Message from the Chair, Jack Hall

Real Estate Foundation Governors and staff can once again look back over the year with pride, both at the projects that have benefitted from our grants, and at the many accomplishments within our organization.

As in the previous year, we continue to find ways to make a difference in BC at a time when funding is constrained. We have been able to ensure that dollars are stretched to achieve maximum benefits through:

• diligent review of applications with an eye to leveraging available funds
• building on initiatives already complete
• focusing on strategic priorities, and
• assisting applicants to both streamline and focus project objectives.

Staff members’ efforts to work with applicants, and to ensure that their knowledge and the Foundation’s extensive inventory of information are widely shared, are key ingredients to our continuing success. A responsible approach to managing our financial resources, building on the foresight of previous Boards, has also enabled us to continue an active granting program.

The Board of Governors is proud of a new strategic plan developed early in the year. It represents a significant step for the Foundation and provides guidance for myriad changes, which are creating a sense of excitement and renewal within our organization. You will no doubt notice our fresh new look — hopefully you’ll read through this report and get a better sense of what’s happening behind the scenes.

All five Governors demonstrate a genuine commitment to the Foundation and continue to work collaboratively in pursuing our mandate and goals. On March 31st Stephen Mullock ended his term as Chair, having led us through a very busy year. Barry Brown-John, who completes his sixth year with the Foundation and Cheryl Kathler, who completes three years, are both leaving in 2010. They leave a record of accomplishment and will be missed.

As with many dynamic organizations, the Foundation has seen some staff changes during the year and continues to have a strong team under the able leadership of Executive Director Karin Kirkpatrick. The Board of Governors is both appreciative and proud of our staff.
We anticipate another year ahead where we will be challenged by revenues significantly below those realized during the mid-decade passed. With the hard work done in the past and the exciting work plan for this year, we have good reason to be optimistic and enthusiastic about what we can achieve with our many partners.

Message from the CEO, Karin Kirkpatrick

2009 was certainly a roller coaster year. We started the year with a significant loss in the market value of our investments along with a grim prediction of our trust income.

Through a combination of sound planning from the Board of Governors, the renegotiation of interest agreements with many of BC’s financial institutions, and pure market luck, we ended the year in a much better financial position than we had entered it.

2009 did see a significant decrease in the Foundation’s granting budget from the previous several years. In order to preserve capital and make the Foundation itself sustainable, we modified our granting budget formula to more closely align with the influences of the market.

With current predictions of an increasing prime rate combined with a still healthy BC real estate market, we are cautiously optimistic that 2010 will see the Foundation moving back to a healthier income.

The Board met in May to review the Foundation’s priorities, particularly in light of its restricted funds. At that time a new emphasis was placed on promoting innovation in the work we fund, as well as our ability to act as a convener of organizations doing good work in sustainable land use. From this focus came our new guiding principle: Leading Learning, Aligning Resources.

At the September 2009 Board meeting, a new logo and visual identity was approved which more accurately reflects the work and values of the Foundation. A new website, which will act as an information resource on sustainable land use practices, will launch in April.

2009 was my first full year as Executive Director of the Foundation. I would, personally, like to thank the Foundation for allowing me the honour of leading an exceptional staff and organization. And, on behalf of the Foundation, I would like to thank all the non-profits — municipalities, First Nations, professional associations, and more — doing exceptional work in the area of responsible land stewardship in BC and beyond.

The messages from the Chair and CEO are published in the 2009 annual report, [click here] to view.