| |
Index |
| |
|
Report
of the Chair and President
Board of Directors
Auditors Report
Gifts Received
Operating Fund
Restricted Endowment Funds
Grantable Funds
Unrestricted
Endowment Funds
Restricted
Non-endowment Funds
Grants
Restricted Endowment
Fund
Unrestricted
Endowment Fund
Non-Endowment Fund
Endowment Balances
Restricted Endowment Fund
Unrestricted Endowment
Fund
Operating Fund
Asset Growth Chart
Resource Center Activities
Memorials
|
| |
Report of Chair & President |
| |
|
 |
The year 2001 was a
challenging year for our country and its citizens. The economy,
terrorist attacks, investment market meltdowns and other challenges
presented themselves. The North Dakota Community Foundation faced
these challenges along with everyone else. As the repository of
permanent funds, the fortunes of the Foundation are directly tied to
the performance of equity and investment markets. Anyone who follows
the equity markets knows that 2001 was a year when prices adjusted
downward to more reasonable valuation levels. |
|
NDCF Board Chairman, Frank Keogh, Williston, President, American
State Bank & Trust |
|
| |
|
|
In spite of all this turmoil, the North Dakota Community
Foundation carried on with its work. Those who depend upon our
assistance, from new college students who receive awards from our
scholarship funds, to local community charitable projects that
rely on community fund grants, to agencies whose endowments we
manage and many others continued to receive the support that they
require in order to accomplish their missions. You might also note
that we received nearly $2 million in new gifts for 2001 and made
over $1 million in grants. We all look forward to 2002 with the
hope that the world will be a safer, more stable place. |
 |
|
Kevin Dvorak, President and CEO, NDCF, Bismarck,
North Dakota
|
|
| |
|
One of the secrets of
the nonprofit world is that Foundations alone don’t do the heavy
lifting. What Foundations do is provide resources through grants to
those who actually do the “good works” for the benefit of their
communities. Take some time to review the list of grants in this
report and if you have access to the internet, look at the NDCF
website (www.ndcf.net). In the Newsletter and at our website, you will
find many pictures of grantees receiving our grant checks. You will
see the faces of volunteers and staff from all kinds of nonprofit
organizations. Those faces belong to the people who give of their
time, talent and treasure to get things done in their communities.
This is the real “secret” to the success of any nonprofit
organization; the people with the passion, vision and plain old
gumption to get things done. We, at the North Dakota Community
Foundation are very pleased to provide support in the form of our
grants to help these wonderful volunteers make North Dakota a better
place. |
| |
|
Top of Page |
| |
2001-2002 BOARD OF DIRECTORS |
| |
CHAIRMAN |
| |
|
Frank Keogh, Williston
President, American State Bank & Trust |
| |
VICE CHAIRMAN |
| |
|
Linda Steve, Dickinson, Certified Public Accountant |
| |
SECRETARY-TREASURER |
| |
|
George Cox, Grand Forks |
| |
DIRECTORS |
| |
|
Orlin Backes, Minot,
Attorney
Joe Hauer, Bismarck, Businessman
Tara Holt, Bismarck, Independent Business Woman
Dennis Johnson, Watford City, Attorney at Law
Lynn Nelson, LaMoure, Business Woman/Farmer
Lowell D. Overbo, Ashley, Retired Bank President
Chad Peterson, Fargo, Architect
Marlys Prince, Regent, Independent Business Woman
Russell Stegman, Cavalier, Farmer
David “White Thunder” Trottier, Dunseith, Business Owner
Top of Page |
| |
2001 Auditor's Report |
| |
|
Rodney W. Melby, an
independent certified public accountant, has audited the Foundation’s
financial statements for the year ended December 31, 2001. The auditor
has issued his unqualified opinion dated January 14, 2002, on the
basic financial statements. Copies of the audited financial statements
are on file at the Foundation’s office for inspection. The following
financial statements are excerpts from the audit report. |
| |
|
Donations are listed on a single page
within this website and total $1,729,429 for the year. |
| |
|
Grants |
| |
|
A total of $1,041,127 in Grants
were made during 2001. They are outlined on this website as follows: |
| |
|
Restricted Endowment Fund Grants - $427,879
Unrestricted Fund Grants -
$61,300
Non-Endowment
Fund Grants - $551,948 |
| |
|
Fund Balances |
| |
|
Fund balances totaled $18,099,814
at the end of 2001 as follows: |
| |
|
Operating
Endowment Fund Balance - $756,287
Restricted Endowment Fund Balance -
$11,138,219
Unrestricted Endowment Fund Balance
- $1,705,397
Restricted Endowment Fund Grantable Balances - $274,028
Restricted Non-Endowment Fund Grantable Balances - $3,773,472
Unrestricted Operating Fund Balance - $452,411 |
|
 |
|