Dear Friends:

We’re pleased to share with you our 2005-06 Annual Report as part of a new stage of growth and change at the East Bay Community Foundation. As the report highlights, our assets under management reached $268 million and total grants awarded topped $27 million. We’ve also been actively engaged with community partners to address critical challenges confronting the East Bay, such as urban school redesign, access to after-school programs, and building strong and sustainable communities.

We are now beginning a search for a new president to succeed Mike Howe, who is returning to academia after 13 years of stellar leadership. Over the past year our Board of Directors has focused on the opportunities and challenges ahead. The most important of these is keeping pace with rapid changes in philanthropy by delivering more focused, effective and competitive services to our donors and the community. We welcome these opportunities. We’re committed to selecting a new president who can make this agenda succeed -- a leader with the firepower to continue our strategic growth, and a person of national stature who will leverage our knowledge of community needs and resources to shape public policy and catalyze action on issues of vital civic importance.

We have the leaders in place to identify the most rewarding opportunities and to drive this transition:

• Karen Stevenson -- long-term EBCF Director, corporate executive and business law specialist, as our interim President;
• Michael Dalby -- experienced business strategist and veteran nonprofit director, as Chair-Elect of our Board of Directors;
• Keith Chreston -- versatile, seasoned executive with financial and technology expertise, as our interim Chief Operating Officer and CFO;

Accomplished and creative senior managers leading our development, community investment, finance and communications efforts.

We’re all working closely together to ensure that the heart of the East Bay Community Foundation beats with precision and compassion. We welcome your comments, suggestions and help.

Kind regards,

James P. King Karen Stevenson
Board Chair Interim President