On behalf of The Dayton Foundation, I would like to thank the Foundation's donors, who have generously continued to give and make charitable commitments to the community, demonstrating their ongoing dedication to philanthropy.

During the fiscal year (July 1, 2008 - June 30, 2009), The Dayton Foundation received contributions of $38.4 million from these generous donors, compared to $37 million in FY08. In addition, donors committed $1.3 million in new planned and deferred (legacy) gifts this past year, for a total of $217 million in committed legacies. This is impressive and disproportionate giving from a community our size.

More than 14,000 grants and distributions, totaling $37.8 million, were made to nonprofit organizations this year from the assets of The Dayton Foundation. In the last decade, the Foundation has distributed more than 141,000 grants totaling $366 million.

The Dayton Foundation's total assets were $286 million as of June 30, 2009.

Fund Evaluation Group, Inc., an independent performance measurement firm hired by The Dayton Foundation, continues to monitor our investment managers' performance results. For the fiscal year ending June 30, 2009, the Foundation's composite time-weighted total expected return of its discretionary assets, after fees, was -17.6 percent.

Finally, I am pleased to report that the independent accounting and auditing firm of Flagel, Huber, Flagel & Co., has completed its fiscal year-end audit of the combined financial statements of The Dayton Foundation and related entities and has issued an unqualified opinion thereon.

A complete copy of the audited financial statements may be obtained by request at 500 Kettering Tower, Dayton, Ohio, 45423, or by calling The Dayton Foundation office at (937) 222-0410 or toll free at (877) 222-0410. My thanks also go to the Foundation's Finance and Audit Committee members, the investment managers, and our Finance and Accounting staff for their effort, support and advice.