The Eyesight Foundation Of Alabama

Programs: An increase in collaborations has been an approach this year as the desire for effective outcomes remains paramount in our strategy. While continuing ongoing collaborations with such organizations as prevent blindness, our partner with the alabama vision coalition, new partnerships were forged with the alabama department of public health and others. At the same time, protection was the approach for the investment strategy that supports our grantmaking activities, while seeking ways to maximize our earnings in a volatile era of what highland associates refers to the current triple-l environment: low growth and low yields for a long time. As investment challenges make it difficult to fulfill all of our grant aspirations, we continue to seek creative approaches toward that end. At the top of our successes are the uab callahan eye hospital and department of ophthalmology, both of which are enjoying and sustaining great success in our ongoing leveraged funding partnership with uab. Asset protection and growth: we began the calendar year with roughly $45. 97 million and an understanding with investment advising company highland associates that we should expect lower returns for a longer period of time. That theme has remained consistent and played out much as predicted, with fiscal year end assets at $46. 75 million (6-30-16) and calendar year end assets at $46. 13 million. The budget proposed for 2016-2017 reflected a reduction in grant payout target to 4. 0%. The budget also reflected a reduction in operating expenses. Stewardship of esfa funds after the grant awardsnot only do we work to protect the assets we hold, but much care is given to the stewardship of esfa funds once they have been distributed as grants and gifts. Due diligence activities after grant awards are made continue to be a staff priority, to monitor whether projects are carried out as proposed and ensure that any restrictions, contingencies or reporting requirements are met. Site visits, progress reports, and open communication with the grantees are hallmarks of the foundation's stewardship activities. Sometimes, though rarely, these site visits result in a budget modification or cancellation of a grant due to changes on the grantee side that affect the ability to complete the funded project. That is the point of good stewardship to know the outcomes of our support. There were no issues during 2016 that warranted any grant refunds or cancellations.