| No. 62 | February 23, 2007 |
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Our results are in for 2006Preliminary results for 2006 are now in; we had a good year. There was an increase in both the number of funds and the amount of the endowment, and contributions toward our operating costs also increased. It is rewarding, indeed. Thank you one and all. First the figures. Our portfolio value on December 31, 2005 was $626,376.02. As the figures on the left show, our investment portfolio was valued at $866,866.80, an increase of $240,490.78 The number of funds increased also from 22 to 32, and a new fund has been added already this year. While each Fund is unique, I should mention that the David Mackay Fund is the first in the health field, the Hesta Macdonald Fund purchases books for Island schools, The Cumberland Rocky Point fund arose from the sale of a school owned by the Women.s Institute, The Upson Fund is our first by a US citizen with a summer home on PEI, and the Summer Islanders Legacy Fund was established by Summer Islanders who fell in love with PEI Our audited figures and annual report will not be available until our Annual meeting in May If you have questions, please do not hesitate to contact me. The Foundation News is an informal newsletter edited and published electronically by, and at the whim of, Don Glendenning. Think of it as a letter from a friend. Feel free to send it to a friend or otherwise let me know that you want to be on the mailing list. Address: don@glendenning.net the foundation email address is foundation@cfpei.ca. |
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