Dear Friends of Delta Community Foundation:

Thank you for this opportunity to report to you on the activities of Delta Community Foundation for the fiscal year 2008 – 2009 ended on June 30, 2009.

Formed in 1986 by a group of Ladner Rotarians, Delta Community Foundation has grown from an idea to a community foundation with assets of $1,300,000, a total expected to continue growing in the coming year. Delta Community Foundation continues to provide approximately $35,000 in support annually to charitable organizations providing service and support to the residents of Delta, as well as in the form of scholarships and bursaries to graduating Delta students.

The fiscal year just ended has been extremely challenging for all foundations. Rapidly declining equity markets in late 2008 combined with interest rates paid on savings continuing to fall have affected everyone. With a primary goal of protecting capital our Foundation maintained our capital base. As investments have matured our average rate of interest on investments has continued to fall. This will mean significantly decreased amounts of income available for grants . Our continuing challenge will be to find financial instruments that can provide improved returns without risking capital.

As of the annual meeting being held on September 22, 2009, I will be stepping down as chair. Wayne Connorton, a resident and Rotarian from Tsawwassen, will be stepping into that role. I want to thank all those individuals who have assisted the Foundation through donations of their time, funds, or both during my 5 years as chair. My special thanks go to Ulf and Linda Ottho for their efforts in encouraging potential donors to consider establishing endowments with us. Any organization is only as good as the people who support it and Delta Community Foundation had been blessed with great supporters.

Barry Irvine, P. Eng
Chair