Donor News In Depth

Market and Performance Summary for June 2008
From Mike Miller at Colonial Consulting, TSFF’s Investment Consultant
After two months of modest gains, markets declined sharply in June as concerns regarding housing, inflation, oil prices, and the credit crisis returned to the forefront. With the exception of cash, commodities, and short positions in the equity and fixed income markets, losses were broad based. Statistically, June was the worst month for the Dow Jones Industrial Average and the S&P 500 since September 2002. Overseas markets declined alongside those in the U.S., since weak conditions in the credit markets have a global reach, as do the implications of a severe slowdown for the U.S. economy.

While market volatility and significant losses take a significant toll on both the psychology of investors and the size of their portfolios, it is our view that current conditions are similar to those of the past, as significant opportunities have been created. Capitalizing on these opportunities is a difficult task and one that requires patience and the use of highly skilled investment managers. In our view the Foundation is well positioned in this regard. 

The TSFF Long Term assets modestly under-performed the portfolio’s customized market benchmark for the month. This was largely due to modest losses of just over 2% from one segment of the Foundation’s hedge fund portfolio and was consistent with our expectations given the magnitude of losses in the equity and credit markets.

Professional Advisor Seminar on Thursday, June 5th - The Changing Role of Alternatives in a Volatile Economy: Current Trends and Recent Developments in Alternative Investing
The turbulence in the credit markets has had a dramatic effect on the economy. Join The San Francisco Foundation and the Institute for Private Investors for a panel discussion as we examine the impact that this recent economic instability has had on the commercial real estate, hedge fund, private equity, and venture capital fields. The panelists, all experts in the field of alternative investing, will discuss current trends and recent developments in these areas. Continuing education credit for attorneys and CPAs; credit pending for CFPs and CTFAs. To RSVP please contact Chris Nicholson at 415.733.8521 or cmn@sff.org.

Donor Appreciation Cocktail Party on Wednesday, June 11th
Tatwina Lee, Chair, Board of Trustees, and Sandra R. Hernández, M.D., Chief Executive Officer, cordially invite our donors to attend our Annual Donor Appreciation Cocktail Party. Join us to meet the Foundation’s Trustees and receive updates from several of our Program staff. Responding to the current mortgage crisis, Director of Programs James Head will speak about the collaborative California Home Ownership Preservation Initiative. Refreshments & hors d’oeuvres will be served. Please contact Courtney King at 415.733.8571 or crk@sff.org to RSVP.

Donor Site Visit to Alonzo King's LINES Ballet - Through our Donors' Eyes
"On March 5, we had the unique privilege of joining other San Francisco Foundation donor advisors, members of the Foundation's Board of Trustees, and Foundation staff in going behind the scenes at Alonzo King's LINES Ballet. This cultural jewel is in the very heart of our city.  After meeting the company's founder, choreographer, and artistic director Alonzo King in an informal setting over refreshments, he escorted us into one of the company's rehearsal spaces for nearly an hour of intense rehearsal of individual and pair step combinations, as well as large portions of ensemble repertory selections. 

We often attend dance concerts in a typical theater setting, which made our visit to the rehearsal - in its intimate space - a very special and far different experience. We could see not only the sheer intensity of the dancers' efforts, but also their sweat, strength, stamina, and total immersion in their art. We also saw first hand their humanity as they explored different ways to execute their movement, discovering for themselves and for each other which methods were more successful than others. We came away with a deeper appreciation of what a modern dancer must give to succeed in this medium and what it takes to support a company of international renown. 

Following the rehearsal, John Killacky, the Foundation's Arts and Culture program officer, led a conversation with Alonzo King about his vision in creating works for the company. Our fellow donors engaged Alonzo with their questions, and our appreciation of the company's vision and success grew tremendously. We learned, for example, that the company's international performance calendar is but one of its achievements. It is justly proud of its school and outreach programs, which involve hundreds of young people in the art of dance.

Site visits such as this one are invaluable - we strongly encourage donor advisors to attend one to see firsthand how a potential grantee relates to its clients and the community."

-The San Francisco Foundation Donor Advisors

Watch a short video of the rehearsal:

Join the Impact Campaign: the Power of Giving Together
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Change in Stock Donation Information
When making your next stock donation, please note that as of December 1, 2007, our Morgan Stanley account number and contact information has changed. Please be sure to download the latest information from our Donor Resources page.

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