From the President
Nonprofit institutions across the country have faced serious challenges over the past few years as a result of the ongoing economic downturn. Organizations have dealt with the consequences in a variety of ways, ranging from massive budget cuts to attempts to maintain business as usual for as long as possible.
Foreseeing the impact that the downturn would have on the Society's operating budget, in spring 2009 the MHS Board of Trustees and staff moved decisively to reduce expenses while maintaining the quality of core services. At the same time, they quietly leveled a fundraising effort among the Society's closest friends to create a stabilization fund. The resulting Strategic Initiative is a three-year effort to raise a minimum of $900,000 in unrestricted funds to fill the gap in the operating budget in the challenging years ahead and preserve the Society's programs and services.
We are gratified that, to date, we have successfully raised $1 million dollars for the Strategic Initiative from over two dozen Trustees, Overseers, Fellows, Members, and foundations. Fundraising for the Strategic Initiative will continue on a limited basis in order to maintain a consistent, conservative draw on the endowment while avoiding additional, damaging cuts.
The combination of judicious budget cutbacks and focused fundraising assures that the MHS is positioned not only to survive but to take advantage of the eventual economic up-turn. By calling on the Society's dedicated friends to sustain our mission as well as our finances, we expect to build a bright future for the MHS. For more information on how you can support the Strategic Initiative, please contact Director Development Nicole Leonard at firstname.lastname@example.org.