Message From the Chair

A Time to Renew and Strengthen Our Program

By Robert N. Mayer
Chair, Nathan Cummings Foundation

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We commenced 1993 by undergoing a process of self-examination and renewal at a 3-day retreat. Not only did we critically review our program directions, illuminated with the assistance of recognized outside expertise, but we also conducted a careful assessment of our own effectiveness as a Board. We held a series of discussions that attempted to deal with some of the most difficult questions in an independent family philanthropy: involvement and participation of both present and future family generations, improving communication and decision-making processes to assure full participation of all Foundation constituencies; strengthening Board and staff working relationships; and institutionalizing a continuing process of Board education and evaluation. These sessions resulted in a set of operating goals and guide lines which we adopted as guideposts for our future endeavors.

While we have several operating strategies at work at the Nathan Cummings Foundation to leverage our efforts, one of the most rewarding is our collaboration with other Foundations. We have found that by joining our efforts with other funders, the symphony of excitement and creativity generated by the whole, is truly far greater than the sum of the separate soloists. Last year in the environment area, for example, we partnered with a number of national foundations to help create a new organization, Environmental Strategies, designed to provide more effective advocacy on issues important for the conservation of natural resources. To create a new center to explore policy issues in the arts and culture area, we collaborated with a group of foundations with shared concerns, including freedom of expression and the economic well-being of cultural organizations. We co-sponsored a meeting to explore ways in which health maintenance organizations might more effectively integrate psycho-social interventions. As a last example, we supported with others a national survey of best practices in Jewish supplementary school education.

Recognizing the need to conserve our asset base while enhancing our ability to fund the important work of our grantees, we continued to diversify our investment portfolio in 1993. We added two international money managers, as well as a risk-adjusted hedge fund to our portfolio. We are generally pleased with the performance of our investments, which have grown our asset base to approximately $300 million, making us the 77th largest foundation in the country. In this time of shrinking community support from so many quarters, we are proud to be in a position to increase the contribution to our world from the Nathan Cummings Foundation.

We are crafting the year ahead to be one of expansion and continuing evaluation. In 1994, we are adding new expertise and experience to our Board from outside of the family, having added from within in 1993. We will also be taking a fresh look at our programmatic direction, in the context of the ever-changing landscape of human needs emerging in our society.

No organization of our complexity can long survive, much less have an appreciable impact on its environment, without the tireless support of a dedicated staff such as ours. The examples above are but a taste of some of the exciting new projects for which our staffis providing leadership. However, on a day-to-day basis, there are the continuing challenges of doing business productively and effectively as a private philanthropy. The number of proposals received by the Foundation has grown significantly since 1990. A typical week saw our staff fielding over one thousand inquiries by mail, fax, and telephone. Thank you one and all.

I hope that this report will serve as far more than an historical document of our 1993 activities. Rather, consider it a catalyst for the future. For in the work of 1993 lies the seeds of new approaches to be nourished, as we deal together with the challenges of tomorrow. We look forward to forging new partnerships with our grantees to meet those challenges.

I close on a personal note of appreciation to all of my colleagues for their unceasing support and caring during my recent illness. I have come away with renewed pride and gratitude for the strong partnerships we have created within our Foundation family, as well as with the work of our grantees in the communities we serve. t work of our grantees, we continued to diversify our investment portfolio in 1993. We added two international money managers, as well as a risk-adjusted hedge fund to our portfolio. We are generally pleased with the performance of our investments, which have grown our asset base to approximately $300 million, making us the 77th largest foundation in the country. In this time of shrinking community support from so many quarters, we are proud to be in a position to increase the contribution to our world from the Nathan Cummings Foundation.