Message from the President and CEO
Winter 2009

Dear friends:

As we write to request your support of the 2009 Garden Party, we are reminded of the value and great need for trusted leadership from the philanthropic community during the current economic downturn. There is increasing need for the services funded by the Brandywine Health Foundation, and yet we are all shocked by the Madoff scandal, and the recent news of another investment counselor on the Main Line who has possibly absconded with non-profit funds.

I write to reassure you that the Brandywine Health Foundation’s Board of Directors operates at the highest levels of governance and financial oversight standards, believing that your donations are the community’s assets.

• All 990 IRS tax filings and independently conducted audits are available publicly on the foundation’s website.
• An independent Audit Committee is chaired by foundation board member County Commissioner and former County Comptroller Carol Aichele, the other members of which do not serve on the Board of Directors.
• A Finance Committee of community members with expertise in a wide variety of business functions, reviews the financial statements and meets quarterly with our investment advisory firm, PFM Advisors.
• PFM Advisors advises on investment strategy while the funds are held separately at Harleysville National Bank, formerly Willow Financial Bank.
• We have not ever and do not now invest in hedge funds, believing that the foundation’s assets are not sufficient to take such risk or incur the fees involved.
• We comply with the Sarbanes-Oxley Act’s requirement of non-profits that a Conflict of Interest statement be filed annually for each board member, and that whistleblower language is included in our Personnel Policies.
• The foundation has been a member of Delaware Valley Grantmakers (DVG) for the past seven years, looking to this trade association of public, private and corporate philanthropies serving the greater Philadelphia area for guidance and education about best practices in the foundation world. While our board members have significant experience in a variety of business areas, we recognize that philanthropy is its own unique business and that ongoing education is essential if we are to ensure that the Brandywine Health Foundation has the greatest impact for our community.

We will continue to do everything in our power to honor the trust you have placed in the Brandywine Health Foundation, and thank you for your past support and faith in our work. We remain committed to transparency, accountability, and the highest levels of stewardship in managing the community’s foundation assets.

Best wishes in 2009,
Frances M. Sheehan
President and CEO