2005 Year-End Summary

To Springboard Foundation Members, Contributors and Friends:

It is with great pleasure we report on another successful year for the Springboard Foundation. We are 41 members strong and have grown both in financial and membership terms each and every year. We will distribute approximately $320,000 in grants this year through a combination of direct gifts of cash and subsidy payments to our Springboard service partners on behalf of our agencies. Our cumulative giving now exceeds $1.6 million since our founding in 1997.

As you may know, we support grass roots educational and after school programs in some of the city’s most challenged neighborhoods. Our active members make site visits to each program to interact with the children and measure the leadership capabilities of program directors and board members. We have learned that these leaders represent the most important ingredient of a successful program and we look to fund the most promising individuals. Over the past twelve months, Springboard members visited with 16 previously funded programs and made initial visits to 12 new programs. We dedicate a team of our members to monitor each program, ensure that our funds are well spent, and confirm that the program is progressing according to plan. Analogous to a venture capital fund, Springboard makes multi-year grants to those programs that it believes will succeed long-term and be better positioned for eventual funding from larger pools of capital.

Of the 24 programs Springboard supports this year, 16 were funded previously and 8 are first time awards. Grants range from $5,000 to $20,000. Because our grantees have an average budget of less than $200,000, we believe we are making a meaningful contribution to these programs and, in many cases, we represent their largest award.

Springboard thrives on the support and hard work of its 40 members and many outside givers. Most of our funding comes from our members but we enjoy additional contributions from friends, family members, foundations and corporations who have an affiliation with Springboard or one of its members. This additional support is vital to our growth and we thank all who have contributed. Importantly, all of our administrative expenses are underwritten by our membership so that 100% of contributions from outside supporters can be invested directly into the community.

In addition to funding, an important aspect of the Springboard relationship is our access to outside service providers. Financial aid can only go so far. The programs that Springboard supports are small and many times need help with board development, strategic planning, fundraising, technology implementation, accounting and marketing. As a supporting organization of The Chicago Community Trust, we rely on Trust personnel and resources to assist us and our grantees. We have established a “Springboard Management Suite” that consists of leading non-profit service providers who offer expertise in areas that are vital to our grantee’s development and growth.

Recently, we held our annual Roundtable forum for all the agencies we support. At this event, we heard from representatives of the Executive Service Corps of Chicago, CPA’s for the Public Interest and The Alford Group, all of whom offer vital services to our agencies at a very favorable rate. We were also introduced to The Campaign to Expand Community Schools in Chicago, which is focused on providing high quality programs for children outside the normal school day, but located inside Chicago Public School facilities. Finally, we were pleased to present the 2nd Annual Springboard Award to the JHP Community Center. The award goes to a current or recent past recipient of a Springboard grant that demonstrates a commitment to improving the lives of children in Chicago and the vision and leadership necessary to sustain program viability over the long term.

We also held our annual dinner for members, grantees, outside givers and others interested in Springboard to share our efforts and plans. We were honored this year to have Ron Gidwitz, former CEO of Helene Curtis, current candidate for Governor of Illinois and long time, leading Chicago philanthropist. Mr. Gidwitz offered lively commentary on what it means to get involved and give back to the Chicago community. We are grateful to Mr. Gidwitz for sharing his time and perspectives with our group.

We strive for continuous improvement at Springboard. This past year we introduced a formal Program Evaluation process that assists members and agencies assess programmatic and organizational competencies. With this process, we are in a better position to evaluate the agencies against themselves and compared to others we support.

Springboard in 2006 will be led by Steve Kaiser, President, and Mark Ferguson, Vice President. We thank the ongoing support of our Board of Directors: Prudence Beidler, community leader and Chair of The Chicago Community Trust Board of Directors; David Coolidge, Vice Chairman of William Blair & Company; Richard Driehaus, Founder and Chairman of Driehaus Capital Management and Jim Glasser, Chairman of the Chicago Community Trust. Steve Kaiser, Mark Ferguson and Doug Mabie, Springboard Founder, will also serve on the Board of Directors in 2005.

Finally, we leave you with our new and improved mission statement:

The mission of Springboard Foundation is to provide financial and intellectual capital to selected, “grass roots” charitable programs that are focused on improving the lives of needy children, their families and their communities in the greater Chicago area. In fulfilling this mission, the Foundation also benefits the community by training its members in the workings of successful philanthropy so that they may also provide critical leadership to our society with charitable causes outside the immediate focus of Springboard.

Our most important mission, though, is to assist the thousands of children touched by our grantees each day. Please join us or visit http://www.springboardfoundation.org/.

Many thanks,

Mark Fuller and Steve Kaiser