Treasurer’s Report
by Shelly Boeve

The year 2007 was a landmark one for the East Grand Rapids Schools Foundation. For the first time in the history of the Foundation our assets exceeded 2 million dollars! In addition to our very strong financial position, our endowment continues to have strong, double digit investment returns. As our endowment continues to grow, so does our ability to provide support for the EGR school district. This past year the Foundation funded over $62,000 in grants, awards and scholarships which also is a record amount for the Foundation. While this is a significant amount of money, it is still not enough. Every year our grant requests exceed our ability to fund, and many of the requests are for school programs that, in the past, would have been part of the district’s budget. As many of you know these times are challenging but,
as you also know this community rises to a challenge. The Foundation will continue to work hard to be good stewards of your donations and we understand very clearly that none of what we do would be possible without your continued generous support!
Thank you very much.