Report of Appreciation 2008-09

The mission of the Western State College Foundation is to be

an enthusiastic advocate and funding partner of Western State College.

By encouraging philanthropy and ensuring wise stewardship of gifts

and endowments, the Foundation aspires to enhance

the educational environment at the College for the benefit of its students,

faculty and community.

Dear Western Alumni and Friends:Thank you for being a part of the solution to a daunting challenge. You have given

generously to strengthen Western and advance our mission at a critical time. You give

me great hope for the future of Western.

For some time I have been following trends in public higher education throughout the

Country. We are at a significant transitional moment in American history for public

higher education and we must find creative and innovative ways to manage our way

through these difficult economic times.

Something is fundamentally wrong with our longstanding method of public funding

higher education. The public higher education “social compact” created by the 1862

Morrill Land Grant Act was that state governments would subsidize public institutions at

a level sufficient to provide quality education and opportunities while holding down tuition costs at levels affordable across

socio-economic classes. This was a landmark time for American education, making “higher learning” accessible to many who could

not otherwise afford tuition at the private colleges and universities where higher education originated in the United States.

Of course, in the mid-nineteenth century state governments did not have vast transportation infrastructures to fund, correctional

systems or Medicaid caseloads, and only minimal obligations to K-12 education. The 21st century has presented a much different set

of challenges for our state governments and it may just be that our states can no longer fund public higher education as they once

did. The evidence of this difficulty can be seen well beyond the challenges we face in Colorado. Substantial reductions to state

support for higher education has occurred in California, Ohio, Pennsylvania, North Carolina, Illinois, Florida, Michigan, and Virginia,

to name a few.

As Western works diligently at developing new and creative approaches to our partnership with the state of Colorado, our family of

loyal donors gives us strength and momentum that few peer institutions have.

While the “new normal” of public higher education funding presents unprecedented challenges, our collective commitment to higher

education provides all of us confidence in a bright future for Western.

You have provided investment when resources were scarce. You have provided

momentum when momentum was rare. And you have moved Western forward while

many others have been forced to turn to temporary solutions and hopes to weather the

storm. Philanthropy will play an increasing role in reimagining the future of public higher

education. Thanks to you, Western is well positioned to thrive in this respect.

The new College Center stands as a monument to your commitment and to Western’s

ever-advancing mission to serve students in rare and transforming ways. Thanks to you

and to the scores of generous alumni and friends who believe in Western, the best is yet

to come. Again, thank you.

Sincerely,

Jay Helman, President

1

Dear Friends – It is often said that a gift reflects the character of the giver. I believe there is much wis-

dom in that.

Consider the gifts Western has received in the past year:

• Gifts to create a stunning new College Center that will serve the Western fam-

ily and Gunnison community in remarkable ways

• Gifts to provide more than $500,000 in scholarships to Western’s best and

brightest students and those with great financial need

• Gifts to enhance and elevate academic and athletic programs to new levels

of excellence

What your gifts tell us about you, the giver, is that:

• You live a life beyond yourself, considering how to use your blessings to bless the lives of others

• You believe that college students have the potential to change our world for the better, and represent a vibrant hope for the

future

• You believe higher education unleashes latent potential in students which transforms their lives and destinies

• You believe Western is the place where those life-transforming, future-changing breakthroughs take place in a mentor-rich,

relationship-based, experiential, extraordinary way

• You sacrifice for the things and for the people you believe in, whom you may never meet, so that they may have a better

life, and create a better world

You are remarkable. You are cherished. Your gifts are treasured. Their impact is maximized. You transform Western and change

lives. The future is brighter. You are a hero. Our gratitude is unbounded.

Thank you for choosing to change the world through Western. We are so grateful.

Warmly,

Thomas F. Burggraf, Jr. Vice President of Institutional Advancement

Executive Director of the WSC Foundation

“I am so thrilled with the addition of the new College Center, and the progression of Western. Alumni and friends are making an impact on Western’s students of today and tomorrow, and I am excited to be a part of it.” Don Prosser (’73, ’75)

President, WSC Foundation Board of Directors

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Naming OpportunitiesCollege Center

Benefactor Gifts ($200,000 - $1,500,000)

Space Floor Gift Level

Ballroom 2 $1,000,000

Lobby 1 $850,000

Bookstore 1 $750,000

Concourse/Retail Dining Area 1 $500,000

North/South Concourse 1 $500,000

Engagement Mall $500,000

East/West Concourse 2 $400,000

Recreation Area 1 $300,000

Career Services/Learning Assistance Suite 1 $250,000

Residence Life Suite 1 $250,000

Multi-Cultural Center Suite 1 $250,000

North Entrance 1 $200,000

Meeting Room 2 $200,000

“I am happy to contribute to another project that will benefit the students at Western. The Borick Business Building was the first. The College Center will provide a place for students to ‘hang out’ and meet new friends. Many of these friendships will continue through-out their lives after they have finished their college careers. Under the leadership of President Helman and Tom Burggraf, I am anticipating another opportunity to support the funding of a project for the College and Gunnison communities.”

Bob Little (’50) Community Leader

“When the WSC Foundation agreed to back this initiative, no one could have foreseen that we would be running smack into the teeth of the worst economic downturn since the Great Depression. Nevertheless, we’ve made it to the finish line; and I’m confident that, in time, we will successfully complete the fund raising effort in support of the beautiful new and exciting College Center.” Malte and Pam vonMatthiessen

Chairman and former CEO, YSI, Inc. Director, WSC Foundation Board

“One of the best things my late husband, Jim (’67) and I did a number of years ago was to make an estate gift to the WSC Foundation. Recently, I found there was an ability to reposition assets and redirect our Planned Gift so that a portion will now go the College Center. You may find that a Planned Gift with the WSC Foundation is a way to participate now.” CarolGreenlee

CommunityLeader

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Leadership Gifts ($75,000 - $199,000) Space Floor Gift Level CampusReceptionLounge 1 $150,000 CampusLifeConferenceRoom 1 $100,000 SouthPlazaEast Patio $100,000 SouthPlazaWest Patio $100,000 Amphitheater 1 $75,000

“The crowning achievement of the WSC

Foundation is the opening of the new College

Center. You simply won’t believe it when you

see it! I’m proud and amazed to be part of it

all. Please generously invest in the new

College Center. All the best in 2010.”

Chip Creager (’85)President, Creager Mercantile Immediate Past-President, WSC Foundation Board

“The new College Center promises

to further strengthen the bonds that

make us all proud to be associated with

Western. High quality campus life is

crucial to learning and development for

our students and faculty members.

The facility that we construct will

create a nucleus that every member

of the Western family will want to

enjoy for years to come – that’s why

I’ve personally pledged my support and

am asking others to join me in

this campaign.”

Ty Petway (’96)CEO, Zurich Insurance Services, Inc. Director, WSC Foundation Board

“Our family has been blessed by our connections to Western State College for more than 35 years. We realized the importance of a new College Center in enhancing the quality of the student and faculty experience. The scale, design, and progressive features of the project inspired us to be a part of this new cornerstone facility.”Jyl Voss (’76) Secretary, WSC Foundation Board of Directors OB/GYN

pictured left to right: Jyl, Paula & Mark, and Milt Voss

Major Gifts ($20,000 - $74,999) Space Floor Gift Level Elevator $50,000 DiningStaircase $50,000 StudentLifeOffices 1 $50,000ea. WildernessPursuitsOffice 1 $50,000 SouthExteriorPlaza 1 $40,000 ThemedDiningAreas(twoavailable) 2 $40,000ea. LoungegroupingsLobbyEast(2areas) 1 $35,000ea. FoodServicePavilions(fiveavailable) 2 $30,000ea. TheaterBallroomRestArea 2 $30,000 Loungegroupingsoffconcourse(2areas) 1 $25,000ea. Loungegroupingsoffconcourse(2areas) 2 $25,000ea. Overlookloungeatopdiningstairs 2 $25,000 CurvedBenchWindow–DiningWallEntry 2 $20,000 DiningReception 2 $20,000

“The new College Center will become the centerpiece of our spectacular campus providing a tremendous asset to the entire Gunnison Valley. The College Center helps position WSC for the 21st century by providing a vibrant and valuable forum for students, teachers, parents, the community and guests to gather, converse and share new ideas on a variety of topics to enhance the economy, stewardship and future of the West and beyond.” Peter (’76) and Cathy Dea

President and CEO, Cirque Resources LP Trustee, Western State College

“When I first heard about the new

College Center I knew I wanted to

support it. I realized how many fond

memories I had that centered around

the Student Union. This was the heart

of student life on campus. With the

upgrades and additions the new College

Center will offer Western students I’m

glad I can be a small part in making

it happen.” Maxine Pierce (‘74) Community Leader

“As residents of Western Colorado, and

a member of the business community,

we recognize the value Western brings

to all of Western Colorado...We’re

honored to be associated with Western

State College.” GlenJammaron(’84)

PresidentandViceChairman,AlpineBanksofColorado

“I deeply believe the new College Center will play a vital role in the future of Western State College, tremendously enhancing the qual-ity of campus life and additionally providing a wonderful resource for the Gunnison Valley. I am so impressed that WSC has continued with its commitment to this amaz-ing project in this difficult economic time and I am proud to be a small part of this accomplishment.” Donna Faulkner (’68)Owner and CFO, Faulkner Exploration Director, WSC Foundation Board

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supportinG Gifts ($5,000 - $19,999) Space Floor Gift Level Loading Dock (Outdoor) 1 $15,000 Fireplace (two available) 1 and 2 $15,000 ea. Beverage Stations (two available) 2 $15,000 ea. Wilderness Pursuits East Plaza (Outdoor) 1 $15,000 Art Gallery Walls (two available): Stair/Board Room Area 2 $15,000 Dining Area 1 $10,000 Landscape Gardens (three available, Outdoor) 1 $10,000 ea. Computer Station Kiosk 1 $10,000 Entry Canopies (three available, Outdoor) 1 $10,000 ea. Mailbox Coves 1 $10,000 ea. Movie Theater Ticket Kiosk 2 $10,000 Large Screen Plasma TV’s (three available) $5,000 ea

“The importance of the new

College Center can be measured by

the position it will hold on the

campus: that is, the center. This is the

place where the college community,

made up of people from all over the

world, will interact with one another. We

chose to invest in the new Western State

College Center because the Center will

provide this very special and unique

educational opportunity for our students.” Stu Kaplan (’70)

President, Makuta Technics, Inc. Director, WSC Foundation Board

“I provided financial support for the new

College Center because I viewed it essential

for our students to have a high quality site to

enjoy and where they can benefit from

multiple services.” Roy Hood (’66)

Treasurer, WSC Foundation Board of Directors Chairman and CEO, RIMCO Roy-alty Management Company, L.L.P.

“The old Student Union had always

been the main social gathering point

at WSC. Paula and I have been

supporters of the new College Center

project since its inception and are now

overwhelmed by what it has become.

That the College Center will also act

as a conference center and will be an

asset to all of Gunnison County has

given us great delight to be a part of

its construction.”

Steve Reynolds (’78)Co-Owner and Vice President, Infinity Oil & Gas, Inc. Director, WSC Foundation Board

“As students at WSC in the 70’s the

MoHAB’s often gathered around a fire for warmth

and camaraderie. Many lasting relationships grew from those times. In our decision to

support the College Center we are continuing a tradition of bringing people together,

building friendships, and strengthening our bonds to Western State College. A gift from

the members of the MoHAB to name the outdoor firepit means that students will be able

to enjoy it for years to come.” Jim Peay (’78)MakJEnergy Trustee, MOHAB Foundation

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Don Prosser (’73, ’75) President, WSC Foundation

Owner, Donald W. Prosser PC

Roy Hood (’66) Vice President, WSC Foundation

Chairman and CEO, RIMCO Royalty Management Company, L.L.P.

Jyl Voss (’76) Secretary, WSC Foundation

OB/GYN

Jim Musgrave (’64) Treasurer, WSC Foundation

Community Leader

Chip Creager (’85) Immediate Past-President,

WSC Foundation President, Creager Mercantile

Donna Faulkner (’68) Owner and CFO, Faulkner Exploration

Front Row, left to right: Jim Musgrave, Ty Petway, Jyl Voss, Don Prosser, Roy Hood, Valerie Hastings, Donna Faulkner, Kathy Lutito.

Back Row, left to right: Art Harter, David McEntire, Kip Tindell, Steve Reynolds, Hank Windmoeller, Chip Creager.

Craig Haase Retired Senior Executive and Director,

Newmont Mining Corporation

Art Harter (’78) Senior Vice President, Investments, Smith

Barney

Valerie Hastings (’83) Owner, Specialty Plating, Inc.

Owner, Valerie J. Hastings, P.C.

Stu Kaplan (’70) President, Makuta Technics, Inc.

Kathy Lutito (’85) President and CIO, Qwest Asset

Management Company

David McEntire (’80) President, AmStar Homes, Inc.

Ken Moffitt Retired Vice President and General Manager,

Rotary Drill Division of Ingersoll-Rand Company

Steve Trippe (’77) Vice President, Cima Energy

Ty Petway (’96) CEO, Zurich Insurance Services, Inc.

Malte vonMatthiessen Chairman and former CEO,

YSI, Inc.

Steve Reynolds (’78) Co-Owner and Vice President,

Infinity Oil & Gas, Inc.

Kip Tindell Owner, The Container Store

Hank Windmoeller (’73) Chief Operating Officer, Connolly

Bove Lodge & Hutz, LLP

7

Jim Garrison photo

$3,767,838 Charitable Gift RevenueWestern alumni, parents and friends gave $3,767,838 during the 2008-2009 Fiscal Year.

Gift receipts are a tabulation of annual fund gifts, endowment gifts, realized planned

gifts, and gifts made in support of the Mountaineer Athletic Association and other College-

related programs.

The importance of continued annual support cannot be over-emphasized. Gifts to

the Foundation provide funds for both the immediate and future needs of Western

State College.

The Western State College Foundation

$2,412,471 Distribution to WSCThe Foundation provided $2,412,471 to Western State College

during the Fiscal Year 08-09. Every department on campus

benefited from Foundation support in forms such as academic

and athletic programs and special projects.

$578,848From the distribution total of $2.4 million, $578,848 was

distributed to the College for exceptional or financially needy

students in the form of scholarships.

$24,147,169Total Assets

In 2008-2009, the assets of the Foundation

reached $24,147,169. Total assets include

endowments, non-endowed funds, and

Foundation-owned property.

2,386Number of gifts received in 2008-2009

Fiscal Year.

34Years the Foundation has been Incorporated.

360Number of funds the Foundation manages.

153Number of endowed funds at

the Foundation.

8

Leona E. Antholz*Robert Barr*Roberta BarrRobert L. BeitlerElsie A. Bennett*Ruth Berg*Edmund L. Bevens*J. Howard Blackburn*John BrachNancy Spann Braswell*James A. Brewer*Joe BrimusMartha A. Carr*Hugh R. Christenson*Janet S. ChristensonJames H. CoxJeanette M. Dalton*George Davidson*Marguerite DavidsonA. Joseph DeGrazioTony Delmas*Donald S. Eastman*Harry W. Endner*Mary E. Erickson*Jeane D. Fair*Robert D. FosterAgnes D. Giles*Cecil Giles*Paul GillisWilliam H. Gould*Carol GreenleeJim Greenlee*William GreerRobert C. Haas*

Evelyn HaleyLarry Heesch Linda HeeschKenneth E. HeuerClarence T. Hurst*Jean Race JohnsonMay Dye Kearney*Bruce A. KolisekRobert W. Lowe, Jr.Jim MahaffeyMary E. McDaniel MarquardtRichard E. MarquardtMitchell W. Mateik*Wayne MilheimChristopher M. MinardBarbara J. Minard*Marvin Newby*Reva Sapp O’Connor*Ralph E. Porter*Marjorie Porter*Fletcher Y. Rainer, III*Sandy ReadEdwyl Redding*Lois T. ReedFred A. Reichle*Olivia L. Reichle*Ethel M. RiceRachel W. Rice*James R. Richards*Freda T. Roof*Joseph A. Ruggerio*Mary A. Scherer*Stephen T. SemegenAlma L. Sheff

George R. SheffAnne ShrakeTom ShrakeDeborah ShoopKirkton ShoopBurton Smith*Elnora Smith*Bill SmithJanet SmithWilliam H. Stobaugh*Ida LaDean StobaughMarion A. StoerkerMollie G. StoerkerDavid StremmeJan StremmeDan Thornton*Jesse Thornton*James T. TullyEric Vanden BrinkC. E. Veirs*Francis T. ViscontiJohn P. Vloyantes*Malte vonMatthiessenPam vonMatthiessenMary F. Wright*Paul W. Wright*Hazel Wright*Mickey Zahradka*Nona ZahradkaGeorge Zavislan*Selma ZavislanAnn Zugelder*

Anonymous (8 individuals)

*Deceased

The Heritage Society formally recognizes all planned gift donors who have committed their support to ensure Western’s future:

9

William T. HamiltonWilliam T. Hamilton, who served as President of Western

State College from 1987 to 1990, passed away on

July 6th, 2009 from a heart attack.

Dr. Hamilton joined Western in 1986 as the Vice President of

Academic Affairs. At the time of his death, he was a Professor

Emeritus of English at Metropolitan State College in Denver,

where he had served as the Chair of the English Department. He

retired from Metro State in 2005 after 14 years with the college.

Laura Elizabeth “Beth” CallawayLaura Elizabeth “Beth” Callaway, the wife of

Howard “Bo” Callaway and sister of Ralph Walton – the former

co-owners of Crested Butte Mountain Resort – died in her

native state of Georgia December 8th, 2009. She was 83.

The Callaways owned CBMR from 1970 to 2004 and lived in

Colorado from 1976 until 1997, based primarily in Denver for

many of those years. For generations the family has owned, and

continues to operate, a vacation resort called Callaway Gardens

in Pine Mountain, Georgia.

Robb Pennie photo

Dreams Kept Alive Through Foundation

The Chris Mikesell Foundation awarded two grants to the Western State College

Foundation. This first grant, $4,000, was directed to the Wilderness Orientation

Program to establish needs-based scholarships for the 2009-2010 academic year.

The additional $2,000 grant was for the Wilderness Pursuits Program to be used at the

program director’s discretion.

“We are pleased to award these grants to Western’s programs that strive to connect students with the natural environment of the Gunnison Valley,”

said Laura Mikesell, Chris’ sister. “We believe Chris, too, would be pleased.”

Kendall and Sherry Mikesell, along with their daughters Laura and Julie, established

The Chris Mikesell Foundation in December 2007 to honor the memory of their son

and brother.

Christopher Keith Mikesell grew up in Clearwater, Kansas, where his parents still

reside. He developed a sense of wonder that led him around the world, forming

lasting friendships wherever he went. He moved to Gunnison in 2001 to attend WSC,

graduating in 2005, and then chose to make Crested Butte his home. Chris was tragically

killed on January 21, 2007, at the age of 23, in a Sno-Cat accident on the mountain

he loved.

In keeping with the kind of person Chris was, the vision of The Chris Mikesell

Foundation is to help people enjoy the journey in life, to climb the mountain, and see

the view. To honor his adventurous spirit, passion for travel and love of people, The

Chris Mikesell Foundation aims to provide opportunities for young people to experience

nature; assistance to organizations dedicated to preserving and protecting the natural

environment; scholarships at Western State College; and assistance to people in need

around the world.

“We are very excited and honored to be receiving such generous gifts from The Chris

Mikesell Foundation. These grants will provide opportunities for students that would

otherwise not have the means to participate in programming such as this,” said Janna

Hansen, Director of Wilderness Pursuits. “The Mikesells’ generosity will positively

impact the lives of many WSC students.”

Kendall and Sherry gave Chris an old sign at Christmas of 2006 that sums up Chris in one

sentence. It says,

If You don’t Climb the Mountain You can’t See the View.

10

Mountaineer Athletic Association

In the midst of a challenging economic climate, the need for

private funds to supplement the Western State College ath-

letic programs is more important than ever. But thanks to the

contributions and dedication of individuals and businesses

throughout the Gunnison Valley, the Mountaineer Athletic

Association set an all-time record with $285,169 in revenue for

the 2008-09 academic year.

“I think this record and continued growth in our fund-raising

success happens due to a lot of reasons and a lot of good

people,” said Athletic Director Greg Waggoner.

“It is an endorsement of the belief in what we

do and we are very pleased to know so many

feel so strongly and continue to demonstrate that belief

so tangibly.”

The new record includes only the corporate partnership

program and the regular memberships for the MAA. For the

fifth straight year, Western State College raised more than $1

million in revenue last year through special events, capital

campaigns, donations, grants, gate receipts, advertising,

program sales, concessions, athletic camps, sport specific

fund-raising and the MAA.

Western State athletics generate 48 percent of its budget

from private funds, double the average of NCAA Division II

institutions with a football team. Yet the Mountaineers are one

of only two Division II programs to place within the Top 25 of

the Learfield Sports Director’s Cup every year since the

competition began 14 years ago.

The needs for the athletic program continue to be compelling

in an effort to gain on competitive peers, especially in the area

of scholarships.

11

Jacob P. Accola

Shannon Armstrong

Mary Elaine Barbour

Bill Boris

L. Richard Bratton

Clay Campbell

Louie Carleo

Jay Carlile

Claudia M. Carpenter

Chuck Cliggett

Rob Costello

Thom Cox

Peter Dea

Bob Decker

Dan Dennison

Ann Duckett

Jerry Dusa

Gary Garland

Roy Johnson

Nancy Houston

Anne Law

Jim MacAllister

Front row: Pam Johnston, Financial Manager/Annual Fund Officer; Tom Burggraf, Vice President of Institutional Advancement of Western and Executive Director of the WSC Foundation; Deborah Hoskins, Director of Development/Associate Director of the WSC Foundation.

Back row: Jesse Howe, Student Assistant; Debbie Johnson, Staff Assistant/Assistant to the Executive Director.

Sandy Mark

Mike Matthews

Les Mergelman

Howard Morrison

Owen P. O’Fallon

Jack Porter

Paul Rady

Tom Rais

Sandy Read

Ethel Rice

John Roberts

Curtis Robinson

Bud Smock

Ginger Soderlund

Lee Spann

Linda Helken-Squirrell

Richard (Dick) Stephenson

Wesley E. Strain

James Sullivan

Tom Swineford

Lawrence J. Tacker

Jerry Uhrlaub

Edwin Vitt

Pat White

Sven Wiik

12

Jim Garrison photo

13

14

The accompanying notes are an integral part of these statements.

-3-

WESTERN STATE COLLEGE FOUNDATION

STATEMENTS OF FINANCIAL POSITION

June 30, 2009 and 2008

2009 2008

Assets

Cash and cash equivalents ..................................................................................... $ 220,843 $ 359,238 Certificates of deposit............................................................................................ 34,635 74,818

Investments............................................................................................................ 14,242,182 20,518,553

Contributions receivable, net................................................................................. 2,005,796 181,961

Due from Western State College........................................................................... -- 2,639 Other assets............................................................................................................ 85,488 73,368

Debt issuance costs................................................................................................ 67,343 83,505

Property and equipment, net of depreciation......................................................... 7,490,882 7,697,700

Total Assets $ 24,147,169 $ 28,991,782

Liabilities

Accounts payable .................................................................................................. $ 28,596 $ 30,687

Due to Western State College ............................................................................... -- 439,449

Bonds payable ....................................................................................................... 4,060,671 4,857,835 Accrued interest..................................................................................................... 68,524 81,975

Total Liabilities 4,157,791 5,409,946

Net Assets

Unrestricted ........................................................................................................... (3,443,582) 701,236 Temporarily restricted ........................................................................................... 9,372,696 8,917,655

Permanently restricted........................................................................................... 14,060,264 13,962,945

Total Net Assets 19,989,378 23,581,836

Total Liabilities and Net Assets $ 24,147,169 $ 28,991,782

15


-4-


STATEMENTS OF ACTIVITIES

Years Ended June 30, 2009 and 2008

2009 2008

Changes in Unrestricted Net Assets

Revenues, gains and other support: Contributions...................................................................................................... $ 194,227 $ 164,599

Investment income (loss) ................................................................................... (3,931,422) (206,507)

Rental income .................................................................................................... 14,484 14,482

(3,722,711) (27,426)

Net assets released from restrictions:

Satisfaction of program restrictions ................................................................... 2,642,932 3,016,674

(1,079,779) 2,989,248 Expenses:

Programs ............................................................................................................ 2,164,244 2,422,288

Management and general ................................................................................... 652,568 596,771

Fund-raising ....................................................................................................... 248,227 281,464

3,065,039 3,300,523

Transfers................................................................................................................ -- 32,812

Decrease in Unrestricted Net Assets (4,144,818) (278,463)

Changes in Temporarily Restricted Net Assets Revenues and gains:

Contributions...................................................................................................... 3,324,207 2,413,727

Investment income (loss) ................................................................................... (477,106) (497,520)

Royalties............................................................................................................. 98,787 118,828

2,945,888 2,035,035 Net assets released from restrictions:

Satisfaction of program restrictions ................................................................... (2,642,932) (3,016,674)

Transfers................................................................................................................ 152,085 409,681

Increase (Decrease) in Temporarily Restricted Net Assets 455,041 (571,958)

Changes in Permanently Restricted Net Assets

Revenues and gains:

Contributions...................................................................................................... 249,404 3,726,688 Transfers............................................................................................................. (152,085) (442,493)

Increase in Permanently Restricted Net Assets 97,319 3,284,195

Increase (Decrease) in Net Assets (3,592,458) 2,433,774

Net Assets - July 1.................................................................................................... 23,581,836 21,148,062

Net Assets - June 30 ................................................................................................. $ 19,989,378 $ 23,581,836

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-5-


STATEMENTS OF CASH FLOWS

Years Ended June 30, 2009 and 2008

2009 2008

Cash Flows from Operating Activities

Cash received from:

Contributions...................................................................................................... $ 1,531,588 $ 2,674,795

Investment income (loss) ................................................................................... (3,550,090) 498,691 Royalties............................................................................................................. 98,787 118,828

Rent .................................................................................................................... 14,484 14,482

(1,905,231) 3,306,796

Cash paid for:

Programs ............................................................................................................ 2,454,893 2,023,379 Management and general ................................................................................... 438,048 419,505

Fund-raising ....................................................................................................... 248,227 281,464

3,141,168 2,724,348

Net Cash Provided by (Used in) Operating Activities (5,046,399) 582,448

Cash Flows from Financing Activities

Contributions to permanently restricted net assets 249,404 3,726,688 Bond principal payments (797,164) (762,466) Net Cash Provided by (Used in) Financing Activities (547,760) 2,964,222

Cash Flows from Investing Activities

Payment for purchase of investments.................................................................... (5,082,097) (6,577,209) Proceeds from sale of investments ........................................................................ 10,540,213 4,179,098

Payment for purchase of property and equipment ................................................ (4,991) (982,874)

Decrease in deposits with Western State College ................................................. 2,639

Net Cash Provided by (Used in) Investing Activities 5,455,764 (3,380,985)

Net Increase (Decrease) in Cash ............................................................................ (138,395) 165,685

Cash - July 1............................................................................................................. 359,238 193,553

Cash - June 30 .......................................................................................................... $ 220,843 $ 359,238

Reconciliation of Change in Net Assets to

Net Cash Provided by (Used in) Operating Activities

Increase (decreased) in net assets....................................................................... $ (3,592,458) $ 2,433,774

Adjustments: Unrealized (gain) loss on investments ............................................................ 858,438 1,196,130

Contributions to permanently restricted net assets ......................................... (249,404) (3,726,688)

Depreciation.................................................................................................... 211,809 180,560 Decrease (Increase) in contributions receivable and other assets................... (1,819,793) 259,212

Increase (Decrease) in due to Western State College ..................................... (439,449) 439,449

(Decrease) Increase in accounts payable and accrued liabilities .................... (15,542) (199,989)

Net Cash Provided by (Used in) Operating Activities $ (5,046,399) $ 582,448

17

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NOTES TO FINANCIAL STATEMENTS

June 30, 2009 and 2008

Note 1 - Summary of Significant Accounting Policies

A. Organization and Nature of Activities

Western State College Foundation (the Foundation) was incorporated on August 22, 1975 under

the laws of the State of Colorado. The purpose of the Foundation is to aid, directly or indirectly, Western State College (the College) in fulfilling its education purposes. The Foundation is supported primarily through donor contributions.

B. Financial Statement Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in

accordance with generally accepted accounting principles. Net assets and revenues, expenses, gains, and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Foundation and changes therein are classified and reported as follows:

• Unrestricted net assets - Net assets that are not subject to donor-imposed stipulations. • Temporarily restricted net assets - Net assets subject to donor-imposed stipulations that

may or will be met, either by actions of the Foundation and/or the passage of time. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions.

• Permanently restricted net assets - Net assets subject to donor-imposed stipulations that

they be maintained permanently by the Foundation. Generally, the donors of these assets permit the Foundation to use all or part of the income earned on any related investments for general or specific purposes.

C. Contributions Contributions including unconditional promises to give are recorded as made. All contributions

are available for unrestricted use unless specifically restricted by the donor. Conditional promises to give are recognized when the conditions on which they depend are substantially met. Unconditional promises to give due in the next year are recorded at their net realizable value and at fair value if expected to be collected in more than one year.

The Foundation uses the allowance method to determine uncollectible unconditional promises to

give. All unconditional promises to give are deemed collectible by management and accordingly, no allowance has been provided. The allowance is based on prior years’ experience and management’s analysis of specific promises made.

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Note 1 - Summary of Significant Accounting Policies (Continued)

D. Cash Equivalents

For purposes of the statements of cash flows, the Foundation considers all highly liquid

investments available for current use with an initial maturity of three months or less to be cash equivalents.

E. Investment Securities Under SFAS No. 124, Accounting for Certain Investments Held by Not-for-Profit Organizations,

investments in marketable securities with readily determinable fair values and all investments in debt securities are valued at their fair values in the statement of financial position. Fair values are determined by quoted markets. Unrealized gains and losses are included in the change in net assets.

F. Property and Equipment The Foundation’s capitalization policy requires individual assets to be capitalized if the original

cost or fair value at date of donation exceeds $1,000 and has a useful life greater than one year. Donations of property and equipment are recorded as support at their estimated fair value. Such donations are reported as unrestricted support unless the donor has restricted the donated asset to a specific purpose. Assets donated with explicit restrictions regarding their use and contributions of cash that must be used to acquire property and equipment are reported as restricted support. Absent donor stipulations regarding how long those donated assets must be maintained, the Foundation reports expirations of donor restrictions when the donated or acquired assets are placed in service as instructed by the donor. The Foundation reclassifies temporarily restricted net assets to unrestricted net assets at that time. Property and equipment are depreciated using the straight-line method over their estimated useful lives. Depreciation is calculated using the straight-line method as follows:

Asset Useful life Buildings ..................................... 40-45 years Furniture & equipment................ 5-10 years G. Income Taxes The Foundation is a not-for-profit organization that is exempt from income taxes under Section

501(c)(3) of the Internal Revenue Code and classified by the Internal Revenue Service as other than a private foundation.

H. Estimates The preparation of financial statements in conformity with accounting principles generally

accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

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Note 2 - Concentration of Credit Risk

Financial instruments that potentially subject the Foundation to concentrations of credit risk consist

principally of cash balances at financial institutions in excess of federally insured limits. The Foundation maintains cash balances at a financial institution located in Western Colorado. Accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000 in 2008 and up to $250,000 in 2009. At June 30, 2009 and 2008, the Foundation had uninsured deposits of approximately $0 and $105,950, respectively. The Foundation periodically assesses the financial condition of the institutions and believes that the risk of any loss is minimal.

Note 3 - Contributions Receivable

The Foundation has unconditional promises to give (contributions receivable) of $2,005,796 and

$118,961 as of June 30, 2009 and 2008, respectively. Of these amounts, $1,200 and $116,800 relate to the Borick Business Building as of June 30, 2009 and 2008, respectively. As of June 30, 2009 the undiscounted unconditional promises of $2,089,667 relate to the College Center project.

Estimated annual collections on contributions receivable are as follows: Less than one year $ 37,750 One to five years 1,968,046 More than five years --

$ 2,005,796 Contributions receivable are net of unamortized discount of $203,345 and $0 at June 30, 2009 and

2008, respectively. This discount is calculated using a risk-free interest rate of 4%.

Note 4 - Investments

Short-term investments are recorded at fair market value and are comprised of the following:

June 30, 2009

Unrealized

Cost Market (Losses)

Investment securities................................................... $ 14,966,282 $ 14,242,182 $ (724,100)

June 30, 2008 Unrealized

Cost Market Gains

Investment securities................................................... $ 20,384,215 $ 20,518,553 $ 134,338

Investment securities of the individual net asset classes, consisting of money market funds, equity

securities, bonds and investments in limited partnerships, are combined to form a pool of investments. Income earned on investments is allocated, based on cost, to the individual net asset classes with earnings of the endowment investments being included as an increase of temporarily restricted net assets or unrestricted net assets. Investment fees are offset against investment income.

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Note 4 - Investments (Continued)

Investments are as follows for the years ended June 30:

2009 2008

Cash and cash equivalents .................................................................... $ 1,397,492 $ 5,092,791

Fixed income......................................................................................... 2,607,180 1,888,554

Equities ................................................................................................. 10,237,510 13,537,208

Investments ........................................................................................... $ 14,242,182 $ 20,518,553

Investment returns are as follows for the years ended June 30:

2009 2008

Interest income...................................................................................... $ 390,082 $ 648,865

Net realized gains (losses) .................................................................... (3,770,618) 15,793 Net unrealized gains (losses) ................................................................ (858,438) (1,199,680)

Fees ....................................................................................................... (169,554) (169,005)

Investment earnings (loss) .................................................................... $ (4,408,528) $ (704,027)

Investment earnings (loss) are reported as follows in the Statements of Activities:

Unrestricted .................................................................................... $ (3,931,422) $ (206,507)

Temporarily restricted .................................................................... (477,106) (497,520)

$ (4,408,528) $ (704,027)

Note 5 - Property and Equipment

Property and equipment consist of the following as of June 30:

2009 2008

Land ......................................................................................................... $ 38,225 $ 38,225

Buildings and improvements ................................................................... 8,379,170 8,379,170

Furniture and equipment .......................................................................... 100,848 94,223

8,518,243 8,511,618 Less accumulated depreciation.................................................................... (1,027,361) (813,918)

$ 7,490,882 $ 7,697,700

The total depreciation expense for the years ended June 30, 2009 and 2008 was $211,809 and

$180,560, respectively.

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Note 6 - Other Assets

Other assets consist of the following as of June 30:

2009 2008

Art ......................................................................................................... $ 5,620 $ 5,680

Lithographs ........................................................................................... 3,000 3,000

Life insurance policy ............................................................................ 70,868 58,688

Property................................................................................................. 6,000 6,000

$ 85,488 $ 73,368

Other assets are recorded at their estimated value on the date of contribution where market value is not

available.

Note 7 - Restrictions on Net Assets

Temporarily restricted net assets are to be used for various programs and departments of the College. Permanently restricted net assets are endowment funds restricted in perpetuity to continue the tradition

of the Foundation. Income generated by these assets is generally used for scholarships and awards.

Note 8 - Western State College

The Foundation rents part of its facilities to the College. The lease was extended and now expires

June 30, 2010 with annual rentals of $14,482. The rental income for the years ended June 30, 2009 and 2008 was $14,482 and $14,482, respectively. Effective August 1, 2007, the Foundation is renting the Borick Business Building to the College for 10 years for $10. The building was built on College property which is subject to a 50 year ground lease to the Foundation.

The Foundation’s Executive Director and the Director of Annual and Special Gifts are employed by

the College. A portion of their compensation is paid by the Foundation.

Note 9 - Conditional Promises to Give

Conditional promises to give consist of the following at June 30:

2009 2008

Will designation (estimated amounts), restricted for

Western State College Savage Library ................................................. $ 1,000,000 $ 1,000,000

Art Chair ............................................................................................... 1,000,000 1,000,000 History .................................................................................................. 1,000,000 1,000,000

Other ........................................................................................................ $ 2,033,198 $ 2,062,465

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Note 10 - Pension Plan

The Foundation has a 401(k) plan (the Plan) covering all employees working at least 20 hours per

week. Covered employees are fully vested after two years of service. The Foundation contributes 3% of each participant’s compensation to the Plan each year. Total expense for the years ended June 30, 2009 and 2008 was $9,154 and $2,670, respectively.

Note 11 - In-Kind Donations

The Foundation received non-cash contributions of services and materials totaling $150,891 and

$146,581 for the years ended June 30, 2009 and 2008, respectively. The non-cash contributions are included in total contributions and program expenses in the Statements of Activities.

Note 12 – Bonds Payable

On August 30, 2006, the City of Gunnison issued its Revenue Bond (Western State College Foundation Project) Series 2006 to finance the construction of the Borick Business Building to be owned and operated by the Foundation and utilized by Western State College. The proceeds of the bond will be loaned by the city to the Foundation. Under the terms of the agreement with the city, the Foundation is obligated to repay the loan by paying to the registered owner of the bond, on behalf of the city, moneys sufficient to pay the principal of and interest on the bond. The bond was issued in the aggregate principal amount of $6,000,000 at a 4.50% annual interest rate. The future maturities of the bonds are as follows: June 30, 2010 $ 833,439

2011 871,366 2012 911,019

2013 952,476

2014 492,371

Note 14 – Fair Value Measurements

Financial Accounting Standards Board Statement No. 157, Fair Value Measurements (FASB Statement

No. 157), establishes a framework for measuring fair value. That framework provides a fair value

hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy

gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities

(level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three

levels of the fair value hierarchy under FASB Statement No. 157 are described below:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or

liabilities in active markets that the Foundation has the ability to access.

Level 2: Inputs to the valuation methodology include:

• Quoted prices for similar assets or liabilities in active markets;

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• Quoted prices for identical or similar assets or liabilities in inactive markets;

• Inputs other than quoted prices that are observable for the asset or liability;

• Inputs that are derived principally from or corroborated by observable market data by

correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be

observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value

measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the

lowest level of any input that is significant to the fair value measurement. Valuation techniques used

need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Following is a description of the valuation methodologies used for assets measured at fair value.

There have been no changes in the methodologies used at June 30, 2009 and 2008.

Investments in registered investment companies (mutual funds): Valued at quoted market prices

which represent the net asset value (‘NAV”) of shares held by the Plan at year end.

Common stocks, corporate bonds and U.S. government securities: Valued at the closing price

reported on the active market on which the individual securities are traded.

The methods described above may produce a fair value calculation that may not be indicative of net

realizable value or reflective of future fair values. Furthermore, while the Foundation believes its

valuation methods are appropriate and consistent with other market participants, the use of different

methodologies or assumptions to determine the fair value of certain financial instruments could

result in a different fair value measurement at the reporting date.

The following table sets forth by level, within the fair value hierarchy, the Foundation’s assets at fair

value as of June 30, 2009:

Assets at fair value as of June 30, 2009

Level 1 Level 2 Level 3 Total

Cash & Cash Equivalents $ 1,397,492 $ -- $ -- $ 1,397,492

Mutual Funds 1,436,701 -- -- 1,436,701

Foreign Debt 113,794 -- -- 113,794

Common Stocks 8,587,681 -- -- 8,587,681

Preferred Stocks 240,483 -- -- 240,483

Private Debt Funds -- -- 626,325 626,325

Bonds 976,839 -- -- 976,839

U.S. Treasuries 862,867 -- -- 862,867

Total $ 13,615,857 $ -- $ 626,325 $ 14,242,182

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The table below sets forth a summary of changes in the fair value of the Foundation’s level 3 assets

for the year ended June 30, 2009:

Level 3

Private

Debt Funds

Balance, June 30, 2008 $ 891,145

Unrealized losses related to instruments still held at June 30, 2009 (173,924)

Purchases, sales, issuances, and settlements (net) (90,897)

Balances, June 30, 2009 $ 626,324

Note 15 – Endowments

The Foundation’s endowment consists of approximately 155 individual funds established for a variety of purposes

for donor-restricted endowment funds. Net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions.

Interpretation of Relevant Law:

The Board of Trustees of the Foundation has interpreted the Colorado Uniform Prudent Management of

Institutional Funds Act (UPMIFA) of 2008 as requiring the assets of an endowment fund be donor restricted until allocated for spending, unless otherwise specifically stated in the gift instrument.

The Board believes this interpretation is consistent with long established Board approved investment and

spending policy which is specifically referenced in the Foundation’s endowed gift instrument. In accordance with the investment policy and UPMIFA, with the exception of certain restricted assets that are separately invested, all

restricted endowment assets are invested in the investment pool on a pooled basis until allocated for spending.

As a result of this interpretation, the Foundation classifies permanently restricted net assets as assets that, under

the terms of the gift instrument, are permanent endowments not wholly expendable by the Foundation on a

current basis until a portion is allocated for spending. Permanently restricted assets are invested in perpetuity in the investment pool subject to periodic spending allocations where a portion of the donor-restricted endowment

fund in permanently restricted nets assets is allocated and classified as temporarily restricted net assets available

for spending.

The investment pool also includes donor-restricted funds and board designated funds classified as temporarily

restricted net assets, not specifically designated as permanently restricted endowment funds but they are restricted

and designated for a particular purpose of Western State College. The Foundation classifies these funds as temporarily restricted net assets and the related investment return as unrestricted assets. There are certain

unrestricted net assets invested in the investment pool also.

Based on the interpretation of the investment policy and UPMIFA, the total return of the endowment investment pool including appreciation, depreciation, income, expenses and fees shall be included as part of the temporarily

restricted net asset classification.

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Endowment Spending Policy:

In accordance with UPMIFA the Foundation considers the following factors in making a determination to

appropriate and allocate assets for spending or accumulate assets of an endowment funds:

1. The duration and preservation of the fund

2. The purposes of the Foundation and the endowment fund

3. General economic conditions 4. The possible effect of inflation and deflation

5. The expected total return from income and the appreciation of investments

6. Other resources of the Foundation 7. The investment policies of the Foundation

According to the spending policy, the Foundation is not obliged to allocate for spending a stated percentage of its

endowment assets in any given year. However, in order to achieve both reasonable stability in budgeting and a reasonable balance between near-term and distance programmatic priorities, the board has adopted the following

spending policy:

The allocation for spending in any given fiscal year shall equal:

• 70% of the inflation rate (three year trailing average), plus,

• 30% of the endowment’s investment returns (three year trailing average).

This rate shall be applied to the market value of the endowed account (three year trailing average) not including

gifts made in the current fiscal year (to allow those new gifts to accrue interest). The corridor (or parameters) of

the distribution from year to year will be between 3.5% and 6.5%, with the caveat that the Foundation Board’s distribution committee may, with all available information, have the discretion to adjust slightly the distribution

rate for a given year depending on short/long term needs of the College and the anticipated near-term trends in

anticipated inflation and investment returns, consistent with the Foundation’s Investment/Distribution Goal Statement. The only exception to this policy shall be for endowment distributions tied directly to a faculty

member’s salary, such as an endowed chair. In this case, every effort will be made to hold these distributions

already at 5% annually. The spending allocation rate was 3.67% for the year ended June 30, 2009.

The total endowment spending allocation distributed for the years ended June 30, 2009 and 2008 was $506,283

and $398,287 respectively.

Return Objectives and Risk Parameters:

The Foundation’s return objective is to preserve and if possible enhance the purchasing power of its endowment, net of cost and board-approved withdrawal, over the long-term. The goal is the pursuit of a time-weighted net

return on endowment assets that equals, and if possible exceeds, 6% over the long-term.

The Foundation stands prepared to incur risks consistent with its pursuit of the return objective set forth above. Its endowment investment pool should be deployed monthly in common stocks, exchange traded funds that invest

in common stocks, and bonds. Investments in a single issuer, with the exception of the U.S. Government and its

agencies (including GNMA, ENMA, and FHLMC), may not exceed 5% of the total market value of the endowment funds. No more than 5% of the total endowment assets may be rated below investment grade.

Venture capital, private equity partnerships or other illiquid investments are limited to 5% total endowment fund

assets.

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The following table is the changes in endowed net assets for the fiscal year ended June 30, 2009:

Temporarily Permanently

Unrestricted Restricted Restricted

Endowment net assets, June 30, 2008 $ -- $ (303,517) $ 13,962,945

Investment return (2,647,633) -- -- Contributions -- -- 249,404

Transfers -- (2,737) (152,085)

Appropriation of endowment assets for expenditure

--

(725,057)

--

Endowment net assets, June 30, 2009 $ (2,647,633) $ (1,031,311) $ 14,060,264

The following table is the changes in endowed net assets for the fiscal year ended June 30, 2008: Temporarily Permanently

Unrestricted Restricted Restricted Endowment net assets, June 30, 2007 $ -- $ 873,517 $ 10,678,750

Investment return -- (731,823) --

Contributions -- -- 3,726,688

Transfers -- 231,132 (422,493)

Appropriation of endowment assets

for expenditure

--

(676,343)

--

Endowment net assets, June 30, 2008 $ -- $ (303,517) $ 13,962,945

Funds with Deficiencies

From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor or UPMIFA requires the Foundation to retain as a fund of perpetual duration. In accordance with GAAP, deficiencies of this nature that are reported in unrestricted net assets were $2,647,633 as of June 30, 2009. These deficiencies resulted from unfavorable market fluctuations that occurred after the investment of permanently restricted contributions. There were no such deficiencies as of June 30, 2009. The continued appropriations for certain programs that were deemed prudent by the Board of Trustees and in accordance with UPMIFA, caused deficiencies in temporarily restricted assets of $1,031,311 and $303,517 as of June 30, 2009 and 2008, respectively.

Note 16 – Subsequent Events

College Center Project

In September 2008 the Board of Directors of the Foundation voted to participate in the funding of a new dining hall, student union and theater for the campus. The Foundation’s share of the project is a commitment of $6,000,000 and a future potential commitment up to additional $13,900,000. The entire project is funded by a $19,535,000 bond issue and the balance of the $28,034,130 project will be funded by the College. The Foundation closed on a $6,000,000 bond issue on October 15, 2009 (relating to its share of the project) which is due October 15, 2014. Construction has begun and the project is expected to be completed in November 2010. The Foundation entered into a Memorandum of Agreement that allows the Foundation to purchase approximately 18,000 sq feet of the center under the terms of a condo

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agreement that was executed on October 15, 2009. The Foundation under the terms of the Memorandum of Agreement has the right to purchase additional condo space up to the $13,900,000 or approximately 40,000 sq feet. The foundation has to October 15, 2014 to complete its additional commitment. If the Foundation fails to pay its debt service on the bonds the condo units will not be deeded to the foundation in relation to the amount not paid.

Subsequent events have been evaluated to the date the financial statements were available for issuance.

3028

The Benefactor’s Club($100,000 to $999,000)

*Robert Little Phoenix, AZ*Luftseben Gunnison, CO

The Platinum Club($50,000 to $99,000)

Anonymous - 1Daniels Fund Denver, COCraig and Charlotte Haase Gunnison, CO

The Summit Society – Gold($25,000 to $49,999)

Louie and Dorsey Carleo Pueblo, COGunnison County Colorado Gunnison, COThe MacAllister Foundation Crested Butte, COMartin Maslonka Stateline, NVTy Petway Jacksonville, FLSt. Mary Land & Exploration Company Denver, COStephen and Sarah Trippe Traverse City, MI*Malte and Pam vonMatthiessen Almont, CO

The Summit Society - Silver($10,000 to $24,999)

Boettcher Foundation Denver, COSteven Borick Van Nuys, CACity of Gunnison Gunnison, CO*Chip and Robin Creager Aurora, CODenver Foundation Denver, COThe Energy Cup Greenwood Village, CO*Donna Faulkner Crawford, COEvelyn Haley Grand Junction, CO*Roy and Doris Hood Seabrook, TXJ & W Catering Gunnison, COKEJJ FM 98.3 Gunnison, COKUBC-AM/KKXK-FM Radio Montrose, COLIATIS Foundation Houston, TXMDU Resources Foundation Bismarck, NDGreg and Monica Mikesell Wichita, KSMabel Musgrave Centennial, COPepsi-Cola Company Montrose, CO*David and Maxine Pierce Farmington, NMQuestar Corporation Salt Lake City, UTJohn and Lois Roberts Grand Junction, COEd and Marguerite Rule Walnut Creek, CA

Wells Fargo Bank, N. A. Minneapolis, MNWestern State Dining Services by Sodexo Gunnison, CO

The “W” Mountain Society($2,500 to $4,999)

The 1% Club*(These donors gave 1% of the Annual Fund

goal of $400,000)Jake and Mary Accola Colorado Springs, COAlpine Lumber Company Crested Butte, COAlpine Orthopaedics & Sports Medicine Gunnison, COBank of the West Gunnison, CORick Bettger Steamboat Springs, COThe Bilby Foundation Ardmore, OKThomas and Rosalind Buffaloe Escodido, CAComfort Inn Gunnison, CODAPL Scholarship Fund, Inc. Denver, COBob and Media Dawson Horseshoe Bay, TXPeter and Cathy Dea Golden, CODelta Implement Montrose, CODenver Association of Petroleum Landmen Denver, COFCI Constructors, Inc. Grand Junction, COGunnison Arts Center Gunnison, COGunnison Country Guide Service Gunnison, COGunnison Country Times Gunnison, COHansen Weather Port Delta, COHoliday Inn Express Gunnison, COThe Insurance Center Montrose, COIR Charitable Foundation Montvale, NJKPKE Radio Gunnison, COAndy and Heidi Keck Gunnison, COPeter and Julie Kirchhof Aurora, COPatti Burritt Locke Englewood, COBob Lowe and Cynthia McNeill Crested Butte, CO*Michael and Kathy Lutito Lakewood, COKirk Martinez Bismarck, NDMcDonald’s of Gunnison Montrose, COMountain Fireplace Specialists, Inc. Gunnison, CORichard and Belva Moyle Ogden, UTOl Miner Steakhouse Gunnison, COPalisades Restaurant & Saloon Gunnison, COThe Paper Clip Gunnison, CO*Don and Donna Prosser Denver, CO

Walter and MaryJane Scherr Kingwood, TXThompson Creek Metals Gunnison, COWhiting Oil & Gas Corporation Denver, CO*Pat and Janet Wiesner Castle Rock, COYellow Book Cedar Rapids, IA

The Summit Society($5,000 to $9,999)

A & E Kaplan Foundation Shelbyville, INDavid and Patricia Balkenbush Fruita, CONathan Bilow Photography Crested Butte, CO*Chicago Vessel Fueling Company Clare, MICrested Butte Printing Crested Butte, COCraig Dolinsky Tulsa, OKGlenn and Eva Dubin New York, NYEl Pomar Foundation Colorado Springs, COElk River Construction Pagosa Springs, CO*Stanley Elmaleh White Plains, NYValerie Hastings and Stephanie Day Golden, CO*Jay and Dawn Helman Gunnison, CO*Jeffrey and Karen Holway Deerfield, ILJeane D. Fair Charitable Trust Denver, COJohn Roberts Motor Works Gunnison, COMain Street Gym Gunnison, COMarius Corp Vail, CORichard and Mary Marquardt Cedar City, UTBill and Monica McKenny Marquette, MIThe Chris Mikesell Foundation Clearwater, KSKen and Barbara Moffitt Crested Butte, COJames Nauman San Diego, CA*New York Community Trust New York, NYNunn Construction, Inc. Colorado Springs, CO*Jim and Sue Oates Gunnison, COPetro-Canada Resources (USA), Inc. Denver, COQuality Inn Gunnison, COSteve and Paula Reynolds Broomfield, COBob and Margo Riggan Wenatchee, WASun West Sports Stockton, CATed and Martha Violett Gunnison, CODan Warner Centennial, COWater Wheel Inn Gunnison, CO

The following individuals, corporations and foundations made gifts in Fiscal Year 2009 (July 1, 2008 to June 30,

2009). Every attempt was made to accurately cite each donor. Please notify the Foundation of any corrections.

Your most recent gift may not be reflected here if made on or after July 1, 2009 (we look forward to recognizing your gift

in our next issue).

Ethel Rice Gunnison, CORoyal Gold, Inc. Denver, COFred and Valerie Schmalz Gunnison, COGeorge and Alma Sheff Colorado Springs, COThe Sign Guys & Gal!, Inc. Gunnison, COJohn and Nancy Sowell Gunnison, COJim and Leigh Terbush Manitou Springs, COThree Rivers Resort Almont, COTreads ‘N’ Threads Gunnison, COFrank and Jo Visconti Trinidad, CO*Jyl Voss Lone Tree, CO

The President’s Club($1,000 to $2,499)

Anonymous - 3AAUW Gunnison, COGary and Dora Alstatt Grand Junction, COBob Arnold Gunnison, COCharles and Tammy Bailey Longmont, COGuy and Connie Barr Carlisle, PABB Services Colorado Springs, COB & B Printers Gunnison, COB & H Sports Grand Junction, COReid and Susan Bicknell Broomfield, COBlue Mesa Lumber Company Gunnison, CODick and Donna Bratton Gunnison, COBratton Hill, LLC Gunnison, COTom and Cherie Burggraf Gunnison, COCliggett & Associates, PC Gunnison, COTom and Carolyn Corbett Ladera Ranch, CADonald Covey Peoria, AZCrested Butte Musical Festival Crested Butte, COJoseph Curtis Del Mar, CADalby, Wendland & Company, PC Grand Junction, COJason and Christy Davis Flushing, MIGlen DeBroder Winston-Salem, NCDesert Schools Federal Credit Union Phoenix, AZPatrick Dougherty Arvada, CODove Graphics Gunnison, CODrake Woods of Gunnison Gunnison, COBob and Cindy Drexel Gunnison, COEmbroidered Sportswear Company Crested Butte, CO

Evelyn Manierre Worcester, MAMario’s Pizza and Restaurante Gunnison, COSandra Mark Gunnison, CODennis McCurry Louisville, TNDavid McEntire Las Vegas, NVJohn McGovern Denver, COMichael and Linda McGrath Cincinnati, OHRichard Meyers Armonk, NYMarshall and Lyria Miller Bremerton, WAMisty Mountain Floral Company Gunnison, COMountain Surfaces Gunnison, COScott and Monica Newman Gunnison, CORobert and Mary Jane Nixon Houston, TXThomas and Nancy O’Hara Malvern, PABen Oneal Leesville, LADaniel and Jeanne O’Shaughnessy Englewood, COBruce Otten Littleton, COPat’s Screen Printing Gunnison, COBoyd and Sharalee Pederson Gunnison, COPhillip and Joan Perkins Pitkin, COCharles and Sherryl Peterson Gunnison, COPiezan’s New York Pizzaria Gunnison, COPete and Janet Pisciotta Glendale, AZRex Industries Golden, COGregg Rippy Glenwood Springs, COMatt and Denai Robbins Gunnison, CO

Encana Oil & Gas (USA), Inc. Denver, CODoug Faulkner Enid, OKRobert Fox Highlands Ranch, COJeff and Laurie Garren Gunnison, COGene Taylors Sporting Goods Gunnison, COGentle Dental Care Gunnison, CODonald and Janet Gerardi Midlothian, VAGlobal Shelters Weatherport Gunnison, COGreatLand Log Homes Gunnison, COCarol Greenlee Gunnison, COLewis and Susan Grover Boulder, CODarrel Hafling Arvada, COChristine Cummings Hall Richmond, VAHalliburton Foundation, Inc. Houston, TXGeorge and Rosemarie Hamblin Golden, CO John Hansen Hendersonville, NCVirginia Harris Gunnison, COFred and Leta Haverly Gunnison, COLarry and Patty Hayes Thousand Oaks, CALarry Heesch Littleton, COKen Heuer Denver, COHigh Mountain Liquor Gunnison, COJames and Karen Hill Castle Rock, COWilliam and Mary Hodges Pueblo, COJan and Katherine Horak Tofte, MNJacob Howes Denver, COJohn and Helen Hudson Pueblo, COIndependence Tube Corporation Chicago, ILIsland Acres Motel, Inc. Gunnison, CODon Jackson Houston, TXMerl and Barbara Jacobsen Littleton, COGlen Jammaron Glenwood Springs, COMichael and Cheryl Johnson Burleson, TXMichael and Mari Johnson Malibu, CARobert and June Just Englewood, COKellogg’s Battle Creek, MIGerald and Lois Kiefer Aurora, COJohn and Georgie Kincaid Gunnison, CO King Soopers/City Market Cincinnati, OHDavid Kirvin Las Vegas, NVPhil and JoAnn Klingsmith Gunnison, COKathy Kregel Fort Collins, COLiquid Investments, Inc. San Diego, CALloyd Appraisal Services Gunnison, COArthur Malovich Tampa, FL

“The language of a loving deed is understood by every heart.” – Josephine Robinson

29

Rocky Mountain Frames & Trophies, Inc. Gunnison, CORSC Equipment Rental Gunnison, COBill and Eleanor Rusler Pueblo, COTJ Sardy Anchorage, AKGeorge and Pam Shaeffer Eagle, COShell Matching Gifts Princeton, NJSpallone Construction Gunnison, COSports World La Junta, COJim and Linda Squirrell Cimarron, COChristopher and Maureen Stenger Crested Butte, CORobert Swain Colorado Springs, COTerry and Judy Sweet Grand Junction, COTimbers Sports Bar Gunnison, CORichard and Joanie Todd Centennial, CORobert and Betty Jo Todd Dickinson, NDDavid and Melinda Tredway Palisade, COThe Trough Gunnison, COTrue Value Gunnison, COUNISA Englewood, COUnited Companies Grand Junction, COTed and Martha Violett Gunnison, COMark Voss Wausau, WIJim and Rachel Wallace La Junta, COWal-Mart Foundation Bentonville, AKJonathan Wente Denver, COWestern Lumber, Inc. Gunnison, COWet Grocer Gunnison, COCary and Debbie Wheeland La Mirada, CATodd and Laura Wheeler Castle Rock, COJeff and Danna Wiepking Englewood, COWilliams Engineering Gunnison, COJames Wilson Lakewood, COLeland and Mary Wines Benicia, CAPeter Winograd Albuquerque, NMWSC Bookstore Gunnison, CODavid Yost La Canada-Flintridge, CANona Zahradka Gunnison, CO

The Partners’ Club($750 to $999)

Cabot Oil & Gas Corporation Houston, TXClay and Keely Campbell Lakewood, COJanie Chermak Albuquerque, NMDenver Mineral Royalty Company, LLC Greenwood Village, COSam Downing Salida, COE & E Enterprises, Inc. Gunnison, COEl Paso Floor, Inc. Colorado Springs, COGunnison Bank and Trust Company Gunnison, COGunnison Vitamin & Health Food Store Gunnison, COHigh Country Garage Doors Gunnison, COMonty’s Auto Parts Gunnison, COMountaineer Electric Gunnison, COFrank Nails Las Vegas, NVParish Oil Company, Inc. Montrose, COShondeck Financial Services Gunnison, CO

Nancy Menan Golden, COJames and Teresa Peay Denver, COGaar Potter Denver, COJoe and Kim Puchek Gunnison, COSamples Carpentry Service Brush, CORay and Dee Schumacher Naperville, ILDaniel Schuster Gunnison, COScitor Corporation Herndon, VABret Shaw Greeley, COAnne Steinbeck Gunnison, COMark Stewart Highlands Ranch, COTomichi Tire – Towing Service Gunnison, CO

Phillip Virden Lake City, COGreg and Gloria Waggoner Gunnison, COJohn and Barbara Walker Tucson, AZChris Wilde Grasonville, MDBlair Woodall Dallas, TX

The Crimson & Slate Club($250 to $499)

Mark Acker Bellevue, IDJon Ake Lakewood, COKristi Akers North Zulch, TXTim and Wendy Albers Gunnison, COGerald Ballard Jackson, CALeslie Barnett Broomfield, COSamuel Barney Aspen, COWilliam Bennett Denver, COBerfield’s Stage Stop Gunnison, COBorah-Borah Petroleum, Inc. Casper, WYVicky Brooks Littleton, CODonald and Sharlene Bruns Marion, INBarbara J. Busey Las Animas, COSteven Bussey Littleton, COGlenn, Leila and Shane Calkins Gunnison, COShane Carwin Greeley, COLucille Caughron Sequim, WAArt Chalmers Louisville, KYHap and Narcissa Channell Gunnison, COCarl Clay Montrose, CO

Wilderson, O’Hayre, Dawson & Frazier Gunnison, COWilson Associates Realty Gunnison, CO

The Collegian’s Club($500 to $749)

Mary Kay Arbuthnot Palm Desert, CARobert and Susan Beeken Stevens Point, WIDavid Beezley Cedaredge, COJeffrey and Lesa Bennett Casper, WYGene Bower Tucson, AZLois Brinton Aurora, CO

Al Caniff Gunnison, COJulie Ann Coleman Durango, COCarol Coon El Cerrito, CALinda Crouse Durango, COO. Kay Dalton Greeley, COGene and Therese Dayton Breckenridge, COGeorge and Peggy Delaney Castle Rock, COBrian and Janice DeMoss Hernando, FLTimothy and Kathleen Dills Potomac Falls, VAFidelty Charitable Gift Fund Cincinnati, OHThomas and Mary Ann Fremgen Golden, COFullmer’s Ace Hardware Gunnison, CORonald Lee Goodrich Pueblo, COJames Grieve Pueblo, COGunnison Excavation and Septic Service Gunnison, COJames Hahn Gunnison, COB. E. and Kaye Haldorson Colorado Springs, COAnn Hunt Hieronymus Colorado Springs, COBruce and Jane Humphries Greenville, DEThe Insurance Center Gunnison, COJenkins & Jenkins Rentals Montrose, COJim and Dee Mahaffey Anchorage, AKMargaret Masias Pueblo, COLeland McGill Denver, COMichael and Mary McVay Hobbs, NM

30

“Never measure your generosity by what you give, but rather by what you have left.” – Fulton J. Sheen

Ken, Tracey and Connor Coleman Gunnison, COPaul and Sharon Crook Mancos, COJoseph and Gwen Danni Gunnison, COJean Decker Gunnison, COJohn Donohue South Strafford, VTFrank and Carol Edlin Wheat Ridge, COLiz Fuller Gunnison, COBernard Gardner Honeoye Falls, NYPeter and Nancy Gauss Gunnison, COJim Giesler Glen Ellyn, ILBen and Kathy Gill Littleton, CORichard Gleason Visalia, CA

Zeta Graham Gunnison, COBradley Groselak Lemont, ILGunnison Family Medical Center Gunnison, COGunnison Savings & Loan Gunnison, COGunsmoke Truck Stop Buena Vista, COMervin Guy Colorado Springs, COHair Repair II Gunnison, COOwen Halton Denver, COHenry R. Hansen Pen Valley, CADennis Hetland Fargo, NDKevin and Caryn Hettler Newcastle, COHigh Mark Electric Gunnison, COTerry Holtzinger Denver, COGina Keenan-Heepke Fort Morgan, COKeith Kicklighter Insurance Company Brunswick, GADavid and Gloria Kittelson South Barrington, ILJeffrey and Linda Krebs Montrose, COJoan Kritzberg San Bernardino, CAEdward Kutzleb Durango, COZach Leigh Englewood, CORobert Long Louisville, KYKeith Longpre Scottsdale, AZGlenn Mallory Aurora, CODavid and Bobbie Marfitano Cherry Hills Village, COSarah Mattern Centennial, CO

The Cornerstone Club($100 to $249)

Anonymous - 4Richard J. Abato Great River, NYJoan Adair Cotopaxi, COSeth Adams Gunnison, CORoger and Kathryn Alexander Cheyenne, WYMary Allen Gunnison, COEugene and Frances Anderson Golden, COSydney and Wilma Andrews Independence, KSGary and Linda Appleton Gunnison, COJoAnn Arai Brown Gunnison, COVictor and Laura Ast Monte Vista, COJerry and Sally Babbitt Lawton, OKRichard Badoian Kingwood, TXA. Wesley Bailey Gunnison, COJohn Bailey Fort Collins, CORebecca Bails Anchorage, AKA. Robert Baker Columbia, NHJames and Bonnie Baril Gunnison, COLuke Barron Littleton, CODavid Baumgarten Gunnison, COWayne and Charmain Bearup Colorado Springs, COPaul Becker Sonora, CACraig Beebe New Orleans, LAJeremy Behling Steamboat Springs, COSkip Bennett and Draxy Buckley Gunnison, COCraig Bere Van Nuys, CAJack Bergey Littleton, COCamille Besse Gunnison, COGeorge and Joy Besse Gunnison, CODouglas Best Vineyard Haven, MABrian Bicknell Cottonwood Heights, UTBlack Canyon Realty Gunnison, COKen and Shirley Blair Gunnison, COBlatt Construction, Inc. Gunnison, CORobert and Nancy Blose Wappingers Falls, NYBlue Iguana Gunnison, COHoward Blunk The Woodlands, TXJacqueline Haines-Bobbitt Colorado Springs, COSteven and Cynthia Bogar Parker, COBryan and Karen Bomberg Steamboat Springs, COLorenzo Bonvicini Denver, COCandi Borah Gunnison, COWalter Borneman Estes Park, COCloyce and Deborah Bradley Nashville, TNBrass Key United Country Realty Almont, COErlon Broomhall Shaftsbury, VTTroy and Cheryl Brost Eugene, ORWalter Brost Colfax, WABRRR Refrigeration & Design, Inc. Denver, COTodd Brubaker Gunnison, COMichael Brubeck Centennial, CO

Debby McGlathery Arvada, COBob and Marjorie McGraw Westminster, COJay McMurren Gunnison, COW. Roger Miller Casper, WYMiller Furniture Gunnison, CODon and Tia Mills Arvada, CORobert Mitton Ridgway, COMMC Matching Gifts Program Princeton, NJCole Moulton Silt, COMountain Windows, Inc. Gunnison, CODale Myers Livermore, CAJack Myers Troy, MIJohn Newman Denver, COBill and Stephanie Niemi Crested Butte, COGilbert Noice Covington, GANathan and Kristin Olson Colorado Springs, COWilliam Pero Hayden, COColette Perusek Gunnison, COJohn and Colette Perusek Gunnison, COJohn Peterson Castle Rock, COPhysiotherapy Corporation Exton, PABonita Ann Pilon Nashville, TNJerry Piquette Gunnison, COPaul and Patricia Rachlin Tarrytown, NYRecreational Equipment, Inc. Sumner, WAEdward and Dorothy Reichle Gunnison, CONorman Reinecker Laramie, WYWalter Reinhardt Greenfield, WIJean Reitze Walnut Creek, CAJarral and Anne Ryter Gunnison, COSteve and Karla Schaefer Craig, COHenry Schoellhorn Denver, COBruce and Lesley Schwenger Burr Ridge, ILLeonard Silence Gunnison, COJim and Debra Smith Golden, CODennis and Joanne Snyder Pueblo, COAlec Solimeo Gunnison, COTrenton Staley Parker, COStation Resource Group Takoma Park, MDMaxine Stegall Leadville, COPatrick Stewart Gunnison, COWard Stone Greenville, SCWilliam and Susan Stuller Newcastle, COKenner and Kaarina Swedburg Omaha, NEAnthony and Patricia Tovatt Muncie, INRodney Troester Erie, PARebecca Turner San Diego, CAJames Violett Denver, COMilton Voss Almont, COMichael Wade Highlands Ranch, COBarbara Wheeler Grand Junction, COWilliam Wilcox Belleville, WIMarilyn Wilgocki Downers Grove, ILWendall and Sharon Williams Littleton, COMike and Barbara Winant Golden, COGerald Wing Parker, COFrank Zanetell Gunnison, CO

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John Brunel Golden, COJohn and Emily Bruno Nashville, TNJohn and Barbara Burritt Hotchkiss, CORobert and Janice Bush Centennial, COCarrie Butchert Fresno, CAKirk and Cathy Buttermore Newport Beach, CAJan and Nancy Bybee Lakewood, COBen and Kristen Bye Craig, COBruce Byrd Fraser, COMike and Becky Cafasso Pueblo, COPatricia Card-Van Beck Fort Collins, COTodd and Erin Carey Omaha, NEShaun and Suzanne Carmody Colorado Springs, COOtto Carricato Gunnison, COWilliam and Nancy Cathey Katy, TXWilliam and Janet Catlin Meridian, IDCentron Realty, Inc. Englewood, COTracy Cerise Lexington, KYWilliam and Linda Chambliss Gunnison, COArthur Chaput Denver, COReuben and Julie Chavez Lake Almanor, CAClair and Mary Jo Chermak Hotchkiss, COChevron Products Company Princeton, NJCimmaron Enterprises Grand Junction, CORitchie Clendenin Boulder, CODavid Clifford Centennial, COJudson and Betty Clifton Beaverton, ORAlvin and Sally Colblentz Gunnison, CORandall Cole Denver, COStephanie Coleman Grand Junction, COMarguerite Collard Grand Junction, COColorado Mining Association Denver, COColorado Specialties Gunnison, COPatricia Coolidge West Dover, VTCostanzo Plumbing Gunnison, COKay Cotton Gunnison, COScott and Barbara Courkamp Littleton, COLinda Cox Colorado Springs, COTammie Knutson Craven Los Alamos, NMRoy Crill Gunnison, COCritter Sitters Gunnison, COPhil and Janet Crossley Gunnison, COJoseph Cunningham Boulder, CODanny and Sharon Custer Hoisington, KSRichard Daerr and Karin Holmen Mt. Crested Butte, COBarry and Patti Daniel Oak Harbor, WAKathryn Danskin Longmont, COSteven Daub, C.A.S.A.C. Galway, NYDonna Dayton Carpinteria, CAH. L. Deschene Aurora, COC. E. Deyhle, Jr. Canyon, TXFranklin and Hazel Dickey Searcy, ARSid and Audrey Dickinson Gunnison, COSam and Lucille Diele Merced, CARussell Dobson Cambridge, NEJames and Robyn Donahue Denver, COScot Donato Denver, CO

H & H Towing and Auto Repair Gunnison, COLucile Hadley Cortez, COMary Alice Hansen Montrose, CODeAnn Hanson Ohio City, COJack Hanson Gunnison, COJohn Happs Broomfield, COBill and Mary Ann Hardy Alexander City, ALSteve and Barbara Harn Woodstock, GARoberta Harper Gunnison, COJames and Theresa Hart Grapevine, TXPaul and Betty Hart Gunnison, COTerry Hartnett Tulsa, OKGinny Hayes Gunnison, CORene Hays Littleton, COHealing Hands Physical Therapy, PLLC Oklahoma City, OKTed H. Heath Ottumwa, IAJames Hensen, Jr. Highlands Ranch, COCarol Herfort Summerland Key, FLGary and Julie Herr Eagle, CODonald Hickman Merrifield, MNHi-Country Laundry West Gunnison, COHigh Country Cowboy Company Gunnison, CODouglas Hill Clayton, CAGene Hill Gunnison, COJeffrey Hill Temecula, CAGary Hirsch Fort Collins, COVallory Hitchcock Canon City, COBari Hite Fairbanks, AKHenry and Carol Hoffman Lawrenceville, NJThomas Hogan Matthews, NCJoe and Carol Holeman Broomfield, COHolloway Welding Gunnison, COKarin Holmen Mt. Crested Butte, COGlenn Hovemann and Muffy Weaver North San Juan, CATimothy Howell Edwards, COP.S. and Judy Hudnall Pahrump, NVJeanne Hull Gunnison, COKay Hunsaker Chino, CASkip and Virginia Hunter Montrose, COJeff and Wendy Huson Parker, COKent and Linda Ingram Littleton, COFred Iozzo Wayne, IL

Russell and Elva Dryer Gunnison, COSally Duck Gunnison, COAnn Duckett Grand Junction, COCynthia Dudden Arvada, CODale Dunbar Meeker, COMarc Duncan Gunnison, COMatthew Dusa Sacramento, CABill Dwyer Minneapolis, KSKevin and Jessica Early Colorado Springs, COEddie’s Barber Shop Gunnison, COWilliam Edelman Sarasota, FLMark and Lisa Ellis Centennial, COJoe and Amy Engleman Gunnison, CODonna Erk Louisville, COCarrie Esquibel Gunnison, CODerek Everett Fayetteville, ARSandra Everett Arvada, COJason and Dawn Eves Sterling, COMartha Faulkner Woodinville, WANick and Gwen Fears Salt Lake City, UTSpencer and Arlene Fickle Gunnison, COMary Esther Field Gunnison, COMike and Stacy Fischer Woodland Park, CODean and Janet Fisher Duxbury, MALarry Fitzsimons Morrison, COFlatiron Sports Crested Butte, CODoug and Eleanor Flynn Gunnison, COPatty Foose Duncanville, TXNicholas A. Forest Centennial, COChad and Megan Fowler Lakewood, COEdward Francese Paradise Valley, AZTheresa Frank Seattle, WAJeremy Franz Chico, CAJohn Franzman Centennial, COPamela French Gunnison, COJean Friedlund Grand Junction, COAlice Fulton Gunnison, CORafael Galindo Coralville, IABarbara Galvin Greeley, COGarlic Mike’s Gunnison, COJames Gazzoli Kenvil, NJRichard and Goldie Gilbert Buena Vista, COLinda Glaxner Hotchkiss, CODan and Doris Gonzales Denver, COWilliam and Melynie Greaser Amarillo, TXClea Greenawalt Gunnison, COScott and Pam Greenly Kersey, COSusan Gressett Burleson, TXBuzz and Sharon Groom Cornell, ILScott Groom Gunnison, COGerald Groswold Winter Park, CONeil Grudzen Denver, COThe Guardian Rainbow Sacramento, CABob Guidry Rockvale, COGunnison Country Shopper Gunnison, COGunnison Muffler Gunnison, COGunnison Trucking, Inc. Gunnison, COGunnison Valley Aviation Gunnison, COGunnison Veterinary Clinic Gunnison, CO

32

Duke Iverson Monmouth, ORJan’s Place Gunnison, COClay Jefferson Fort Lauderdale, FLJohn and Laurie Jensch Orlando, FLWayne and Ann Johnson Montgomery, TXJean Johnson Buena Vista, COJoaquin Johnson Las Vegas, NVRalph and Marilyn Johnson Gunnison, COBeatrice Jones Pueblo, COCharles and Ruby Jones Las Animas, COAsa and Barbara Jones Glenwood Springs, COVirginia Jones Gunnison, COBob and Barbara Kauffman Houston, TXRobert Kautz Sheridan, WYLissa Kelchner Phoenix, AZKevin and Marcia Kelly Hockessin, DEMary Kelly Waterbury, CTCurtis Kennedy Salt Lake City, UTGlenn Kent Alexandria, VABrian and Mary Ketel Blaine, MNRichard and Linda Kieffer Littleton, COJohn Kiesel Arvada, COAli and Victoria Kirtay San Diego, CAKiwanis Club of Gunnison Gunnison, COEd and Cecille Klaus Madison, CTPamela Klessing Reno, NVRobert Konrad Denver, COConnie Knight Golden, CODoug and Marilyn Knuth Salt Lake City, UTErin Boydstun-Kohler Colorado Springs, COStephanie Kopp Steamboat Springs,CORonald Kovanic Randolph,VTKroger Cincinnati,OHThe Kroger Company Foundation Cincinnati,OHSteve and Connie Kruck Boone, IAJohn Lake Carbondale, PAWanda Laurence Ventura, CAFrances Lenox Loveland, CORichard Lent Concord, NHRobert Leonhardt Pine Bush, NYTerri L. Livermore Arvada, COKent and Pamela Long Aurora, CORoger and Pat Long Parker, COKirk and Carolyn Lorimer Gunnison, CO

Thomas and Courtenay Murphy Gunnison, COSamuel and Karen Nelson Colorado Springs, COPhilip Newberry Grand Junction, COCraig Nichols Colorado Springs, CODale and Donna Nielsen Gunnison, CORoy Nolan Gypsum, COPat and Jackie Noonan Middletown, OHBill and Carolyn Noxon Grand Junction, COGary Nuss Galion, OHRonald Oakes Aurora, COJohn and Mikel Obourn Edwards, COGary and Shyrl Ann Olinger Nelsonville, OHNickalaus O’Neill Gunnison, COHeather Orr Gunnison, COChris and Mary Osmundson Crested Butte, COMae Overton Gunnison, COWilliam and Gail Palmer Rangely, CODan and Kimberly Pappas Evergreen, CODan and Linda Pavey Anchorage, AKJames and Barbara Peak Endicott, NYDennis Pearson Canon City, COPekin Animal Hospital Pekin, ILTim and Keri Perrigot Rupert, IDWilliam and Norene Piquette La Junta, COEmile J. Pleau Richmond, CAJames and Toni Pleau Lake Almanor, CAJohn Pounder Monument, COWilliam and Kathie Powell Gunnison, COSteven Powers Portland, ORThomas and Shaunalee Prather Gunnison, COStanley and Patricia Pursley Lakewood, COLouis Putsche Seattle, WAThomas and Kathy Rais Gunnison, CORed Oak Properties, LLC Gunnison, COMary Ann Redd Powderhorn, COBetty Reed Englewood, COMichael and Melanie Reid Denver, COPaul and Dorothy Reid Gunnison, COAlexander Rende Pelham, NYKathryn Richardson Council Bluffs, IAMarvin and Patty Richardson Montrose, COMark and Colleen Richmond Frisco, CO

Mark and Rita Macomber Issaquah, WAMaine Septic & Plumbing Lewiston, MEJohn Malensek Gunnison, COCurtiss and Naomi Mallory Las Vegas, NVRichard Malmgren Boulder, COJeanette Mann Dahlonega, GAHelen Marshall Gunnison, COSteven and Annette Marusich Visalia, CAAlex and Nancy Mathisen Anaheim, CAPatti Matthews Woodbury, MNBerger Mayne Yellow Springs, OHJohn McCarthy and Melanie Torpey Gunnison, COBruce McClintock Englewood, COTodd and Shelly McCoy Ignacio, CONancy McDaniel Denver, COThomas and Margaret McElroy Shreveport, LATom and Michelle McGannon Oklahoma City, OKRoberta Meader San Antonio, TXBob and Shawn Meldrum Gunnison, COWestern Wildflowers Gunnison, COMerrill Lynch & Company Foundation New York, NYRichard and Dorothy Mikkelsen Gunnison, COMile High United Way Denver, COJ. Bart Miller Atlanta, GAMindy Corporation Gunnison, CORobert and Loretta Miner Bennington, KSMochas Drive Thru Gunnison, COJames Montgomery Gunnison, COAllen and Trudy Moores Gunnison, COEllen Morgan Vancouver, WAPaul Morgan Gunnison, COWilson Morris Georgetown, TXBruce Morrison and Joyce Richardson Arvada, COMountain Valley Distributors, Inc. Gunnison, COMountaineer Maintenance Almont, CODon and Sue Mundell Gunnison, COMary Munoz Colorado Springs, COJan Munson and Kelly Trammell Kingston, OKJohn Murphy Erie, CO

33

“How long we live is important to us; how well we live is important to others; how generously we live is important to all eternity.” – William Arthur Ward

Carolyn Rimes Columbia, MDMichael Roark Golden, CORocky Mountain Chocolate Factory Gunnison, CORoger Williams Univeristy Bristol, RILeroy and Sally Romero Gunnison, COJeffrey Ryan Centennial, COCarolyn Sanders Fort Collins, COSteven and Lynne Santala Satanta, KSMatt and Carleen Savoren Salida, COJody Sawdo Gunnison, COSamuel Schein Fort Worth, TXThomas Schirmer Fort Collins, COJames and Karen Schlaich Bend, ORGregory Schlepp Fresno, CATerry Schliesman Gunnison, CORaymond and Nancy C. Scholes Seven Hills, OHKristie Schorr Verona, WIWilliam and Janey Scott Gunnison, COMichael Senter Buena Vista, COShamrock Farm Brush, COSteven Shaver Golden, COBurton Shepherd St. Augustine, FLDavid Sheppard Fernandina Beach, FLGary and Diana Sherman Gunnison, COGeorge Sibley and Maryo Ewell Gunnison, CORebecca Mathis Sickles Highlands Ranch, COPat Smart Arvada, COTimothy Smiley Arvada, COBrian Smith Arlington, TXEric Smith Manzanola, COKenneth Smith Ephrata, PALee Smith Ormond Beach, FLMelanie Smith Denver, CORobert and Lucille Snyder Wheat Ridge, COKelly Soder-Blackman Longmont, COMarty Somero Gunnison, COTodd Southall, D.D.S. Gunnison, COKay Spencer Buena Vista, CODonna Spier Brighton, COTravis Spore Tucson, AZDavid Spritzer, M.D. Twin Falls, IDDennis and Cheelone Spritzer Gunnison, CODonald Spritzer Missoula, MTTodd Sprong Kennewick, WAStarr & Associates, P.C. Crested Butte, COState Farm Insurance Agent Gunnison, COCorey Sterner Denver, CODavid and Barbara Stewart Colorado Springs, COGail Stewart Greeley, COJeffrey Stewart Littleton, CORonald Stoneburner Grand Junction, COAllen Stork Gunnison, COGeorge and Caroline Stowell Gunnison, COThomas and Lynn Strickland Englewood, COGary and Maureen Stull Torrington, WYRichard Sullivan San Rafael, CA

Duane Weisshaar Sioux Falls, SDWelborn and Associates Gunnison, COTodd Wendell Sioux Falls, SDGene West Foxfield, COWestern Slope Fire and Safety Gunnison, CODonald and Gwendolyn Wheatlake Thornton, CODavid White Aurora, COVern and Nell Whiting Gunnison, CORobert Wilcze Grand Junction, COKaran Wilkinson Monte Vista, COWilliam J. Nesbitt Enterprises Gunnison, COCohen and Leah Williams Crested Butte, COJoe and Sheila Winegardner Northfield, MNWinston Law Firm, PC Colorado Springs, CORichard Wojdakowski Gunnison, COLenard Wojnowski Longmont, COJohn Wolkowski Jewett City, CTOliver Woods Denver, COTed Worth Erie, COEd and Ruth Woytek Denver, COPeter Wycoff Denver, COY3K-TRI-MILLENNIUM, INC. Los Angeles, CAYale Commercial Rental Account Gunnison, CO

The Commencement Club($1 to $99)

Anonymous - 25 B’s BBQ Gunnison, CODuane Ahrens West Des Moines, IAMark and Kay Alden Bryn Athyn, PAEdward Ali Los Alamos, NMMichael Allen Davis, CAThomas Allen Meeker, COSheri Archer Upland, CAMark and Tina Aschemeyer Rocklin, CAAnna Ash North Bend, WAPiper Aune Fort Collins, COGregory Austin Gunnison, CODaniel Anthony Bacon Valencia, CARyan Baily Chadron, NEKaren Baird Greeley, COHarold Baker Aurora, COMike Baldino Salida, COJosh and Jennifer Barcher Keystone, COChristopher and Catherine Barnes Denver, COJohn Barolak St. Louis, MORichard and Christina Barusic East Aurora, NYJames and Sharon Beiriger Hooper, CORobert Belknap Winchester, WIJerry Beren Highlands Ranch, COGimo Berry Fort Smith, ARTheodore Billings Aurora, COTed Anderson and Robin Bingham Gunnison, COPhil Bissell Denver, CO

Sunshine Apartments Gunnison, COGary and Muriel Swallow Rifle, COTina Swift Gunnison, COWilliam and Carolyn Swift Amherst, NHTom Swineford Gunnison, COSandra Szadaj Glen Allen, VARay and Loretta Szallar Gunnison, COJohn Talbert Gunnison, COTalk of the Town Crested Butte, COF. Doug Taylor Winnemucca, NVCarl and Jenny Teply Gunnison, COBeverly Tezak Pueblo West, COJames and Erin Thielke Aurora, CO

Lowell and Sonja Thill Bourbonnais, ILW. D. and Paula Thompson Charlottesville, VAWilliam and Doris Thorsen Petaluma, CATimothy and Katherine Throckmorton Kintnersville, PAJohn and Julie Tobin Highlands Ranch, CORichard Tomsick Arvada, COAdam Tormey Edwards, COBob and Edna Trammell Gunnison, COLatricia Trammell Gunnison, COHarry Truitt Franktown, COErnest and Judy Trujillo Hutchinson, KSJames Tully Littleton, COSharon Turner Salida, COJulius Uhrlaub Littleton, COJon Untiedt Denver, COMiles and Tonya Van Hee Gunnison, CORalph Vavak Cortez, CODana Veitch Morrison, COWendy Verdun Lakewood, COStephen Vickstrom Castle Rock, COShirley Vidmar Kingsport, TNJan Visintainer Reston, VAGregory Warneke Denver, CORobert and Joann Watson Littleton, COJames and Carol Weaver Chula Vista, CARichard Weiss and Sally Altman St. Louis, MOWilliam Weisemann Spring, TX

34

“Philanthropy is the utilization of community

resources for win-win situations.”

– Unknown

Stephen Hill Ridgway, CORichard Hime Pueblo, COSister Mary Himens Champaign, ILDonald and Swanda Hinson Paonia, COColleen Hogan Decatur, GACarol Hogsett Santa Fe, NMGlenn Honda Honolulu, HIRonald Hood Tempe, AZAdam and Holly Howard Cambridge, VTJames and Patricia Hunt Wadsworth, OHR. Lavone Hurt Palisade, COInterlink Biotechnologies Princeton, NJBeth Isaacs Superior, COJohn JaakklaJohn Jackson Skagway, AKJanis Jacobs Creede, CODonald and Elizabeth Janney Mt. Crested Butte, COHarvey and Bobbie Jensen Cedar City, UTChristopher Joas Pensacola, FLDennis Johanningmeier and Monica Ames Highlands Ranch, CO

Jason Fincham Colorado Springs, CODianne Ford Centennial, COGail Ford Saratoga, WYJohn Fridrich Estes Park, COTeresa Funke Watauga, TXSamuel Gallinger Walnut Creek, CADavid and Pia Gardner Tacoma, WAMax and Nancy Garner Guernsey, WYMartha Gentry Gunnison, COGeorge George Sunrise, FLRobert and Anne Gerhardt Cincinnati, OHPaul H. Gery Gunnison, COAbigail Gibney Bradford, RIGeorge Gibson Lincoln, NECharlene Reed Eads, COElsa Gipson Colorado Springs, COPeggy Gist Denton, TXDavid Goetzman Alamosa, COJames and Rebecca Gomez Havre, MTMichael and Dianne Gonzer Englewood, CODonald Graham Gunnison, CORuth Granat Palisade, COWilliam Grasmick Lamar, COMatthew and Roxann Greenlee Cheyenne, WYR. A. and Frances Greenlee Cheyenne, WYStephen and Beatrice Gregg Southlake, TXWilliam Griffith Denver, COJan Grudzen Royal Oak, MIJuanita Guilmette Canon City, CORollo and Cynthia Gurss Lubbock, TXDelia Haefeli Greeley, COCharles and Stephanie Haitz Colorado Springs, CODonna Hall Longmont, COJohn H. Hansen, Jr. Oklahoma City, OKGlena Haskin Center, COWilliam and D. Lynn Hatch Windsor, COJay and Kimberly Hawks Parsons, KSChester Heaney, Jr. Federal Heights, COJames Heil Fairplay, COScott Helker Golden, COCeleste Helminski Gunnison, COArleen Hernesmaa Milwaukie, ORBruce Herr Montrose, COPeter Herzberg Corning, NY

Christopher Blakeslee Centennial, COMark and Sandra Bodley Los Banos, CAMary and Lynn Bopp Estes Park, COSusan Boyd Centennial, CODonald Bradshaw Mesa, AZEdmond Bridewell Grand Chain, ILRita Bright Hesperus, COJoseph and Betty Brooks Peoria, AZKenneth and Wanda Brown Morgan Hill, CARobert Brown Dumfries, VAJohn and Kathy Burns Colorado Springs, COKaren Burns Boulder, COMichael and Maggie Burns Somis, CAJack Burrow Nipomo, CARichard Burtis Westminster, CODavid Butler Boulder, COCarolyn Buxton Erie, CODon and Reta Calkins Gunnison, COMelba Card Palo Alto, CAFredi Cary Tampa, FLMichael and Jamee Case Gunnison, COFrank and Jamie Cavalier Goodyear, AZMelvin and Sharon Cave Gunnison, COPaul Chandler Athens, GACharles Rowan Company, LLC Denver, COBruce Chavka Eugene, ORRuth Cheskaty Grand Junction, COKevin Chiaravalle Monte Vista, COMary Clark Cottage Grove, ORClarke Agency, Inc. Gunnison, COLloyd and Karen Claycomb Broomfield, COColorado Gym/Colorado Fitness Gunnison, CORonda Connaway and Martha Gentry Gunnison, COKevin and Christina Contreras Eaton, COScott Cooper Erie, COLawrence and Colleen Cope Fort Collins, COLois Cotton Hotchkiss, COShirley Cotton Crawford, COAugustus and Deborah Craigo Centennial, COHelen Creglow Rhinelander, WIScott Cromwell Arvada, CONatalie Davenport Olympic Valley, CAJoseph Davis Colorado Springs, COKarol Dennis Cottonwood, CAKitty DePetris Dallas, TXDon Dillehay Brush, COJennifer Drew West Falls, NYBob and Cindy Drexel Gunnison, COJim Dryden Fort Collins, COMary Eaton Dubuque, IAJohn Eddy Colorado Springs, COGeorge Eidinger Las Animas, COBarry Erb Ephrata, PAPatricia Eskoz Castle Rock, COJerry Fahey Williamsville, NYFred and Harriette Ferguson East Setauket, NY

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Bonnie Johnson Colorado Springs, COJanet Johnson Grand Junction, CORoger Johnson Leadville, COScott and Melenna Johnson Colorado Springs, COClyde and Carol Jones Denver, COMargaret Keenan Denver, COSusan Kern Boulder Junction, WIDan Keyes Kettering, OHKathleen Kinkema Gunnison, COTheodore Klinka Winnetka, ILKenneth and Diane Knapp Las Cruces, NMJerry Knox Lakewood, CODeborah Krabacher Grand Junction, COScott and Nancie Krankkala Hailey, IDJoseph Kropf Centennial, COSuzanne Larkowski Grand Junction, COGordon and Sylvia Lell Moorhead, MNBarbara Liddy Mission Viejo, CAStuart and Debra Lienemann Parker, CORoberta Lilly Washington, DCBetty Lowe San Rafael, CAGregory and Kerry Lucero Littleton, COEmily Luchetta Denver, COVivian Lutschg Lancaster, CALloyd and Carolyn Lutz Canon City, COBetty Lynch Pueblo, COMacy’s West G.I.F.T. Princeton, NJPatrick Magee Gunnison, COWilliam Mallory Hugo, CODon and Pat Marcouiller Wakefield, MIGeorge Maruyama Dubuque, IARobert Massard Wellesley Hills, MARobert Matarese Vail, COMike McCarthy Gunnison, COMichael and Sheryl McConnell Berthoud, COKeith and Donna McCoy Tyler, TXRobert and Sue McCulloch Montrose, COLarry McDonald Rocklin, CARobert and Arlene McGarvin Austin, COMargie McGrane Fort Collins, CODon and Marian McLaurin Hot Springs Village, ARDolores McLean Ames, IAMark and Anne McMullen Littleton, COVicki McNamara Portland, OR

Megann Powell Gunnison, COLynette Proffitt Las Vegas, NVRobert Pugel Pueblo, COJames Quesenbery Boulder, COL. Willadell Radcliffe Gunnison, COClyde Rader Jacksonville Beach, FLBonnie Ragan Colorado Springs, COKeith Raley Oakland, CAVirginia Rankin Florence, COKathleen Ranney Cypress, TXKathleen and Darrell Ray Sedalia, MORaymond James Financial Services, Inc. Gunnison, COBarbara Reaves Franktown, CORobert Rebro Lafayette, CODavid Reddish Montrose, COParker and Vicky Reed East Aurora, NYRamon G. Regal Alexandria, VAClarence and Vera Reynolds Lamar, COFrank Reynolds Chicago, ILGeorge Riebe Mt. Pleasant, TXConnie Ring Springfield, COSteven Ristorcelli Gardnerville, NVAudrey Robeson Bend, OREdward and Laurie Robinson Fresno, CADavid Roembach Santa Fe, NMMark Rollert Colorado Springs, COJames and Elizabeth Roome Littleton, COJane Ross Gunnison, COBill Rumbach and Beth Finholm Rumbach Louisville, COHilarie Ryals Denver, CODaniel Sager Goodyear, AZDan and Kay Salyer Thompsonville, MIColetta Sanchez Buena Vista, COMarjorie Sandoval Colorado Springs, CORobert Saya Sedgwick, COAshley Schaub Longmont, COGreg Schick Pagosa Springs, CODonald and Nancy Schmidli Sun City, AZSteven and Helene Schmitz Brainbridge Island, WARay Schoch Lakewood, COKevin and Debbie Schreiner Johnstown, COVince Schreivogel Burlington, COLee Seater Ashland, OR

David Meissner Fort Benton, MTJanette Metroz Parlin, CODuane Mikow Colorado Springs, COLeland and Peggy Miles Klamath Falls, ORAlexis Miller Palmer Lake, CODale Miller Colorado Springs, COEdna Hall Miller Grand Junction, CORalph and Marsha Miller Montrose, COGene Minnich Houston, TXRomona Mitchell and Sharon Crook Mancos, COJohn Molello Pueblo West, COLester and Martha Moore Denver, COPatricia Moore Broken Arrow, OKKenneth Mulmat Poulsbo, WAPatricia Mytton Wausau, WIRobert Nelson Morton Grove, ILNelson’s Cattle Company La Junta, CODonna Nicholas-Griesel Coaldale, CORobert and Nancy Nuttelman Colorado Springs, COThe Ohio Valley British Brass Band Springfield, OHBrian O’Neill Littleton, COKenneth and Phyllis Opfer Gunnison, COGerald O’Rourke Grand Junction, CORichard O’Rourke Pueblo West, CODonald Oshel Rancho Cucamonga, CASteven Otopalik Avon, COJack and Mary Ann Ott Mancos, COFrank Oyster Gunnison, COLynn Padgett Montrose, COV. Hope Painter Grand Junction, COBruce Parham Anchorage, AKKathleen Parker La Junta, COSharon Patterson Syracuse, UTJohn Pearson Kimberly, WIWilliam and Jeanne Perry Greeley, COSteven and Margaret Petersen Ashburn, VAJohn and Jan Peterson Mesa, AZPeggy Petty Sacramento, CAVicky Piccola Dallas, TXC. Dan Pierce Colorado Springs, COGary and Shelly Pierson Gunnison, COYvonne Piquette Grand Junction, COSteven and Ann Pollard Oklahoma City, OK

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“The act of philanthropy is a spiritual act, an expression of caring for one’s fellow human beings. It is a belief in the future – that the future can be good. It is investing in that future. It is helping to make the dream come true.” – Arthur C. Frantzreb

Daniel and Susan Semegen Scottsdale, ARDonald and Betty Shearer Glendive, MTLarry and Charlotte Sheldon Raleigh, NCPatrick and Kathleen Shelton Marengo, ILJeff and Mary Sheppard Denver, COClark Shivley Avon, COAdolph Silberman Tempe, AZJeffrey Smith Bethesda, MDMarta Smith Gunnison, CONorman and Susan Smith Paonia, CORodney Smith Monterey, TNMaxinne Soderquist Montrose, COJohn Solanik Gunnison, COBillye Spaar Lamar, COMike and Janet Staples Fort Collins, CORebecca Starr Lakewood, COGary and Cynthia Stefanatz Denver, COThomas Stepleton Louviers, COHomer Stewart Colorado Springs, COStanley Stewart Beaufort, SCMarion Stoerker Lake Placid, FLRobin J. Stolp Boulder, COLuanna Strait Aurora, CODavid Swerdfeger Phoenix, AZ

Charles and Marlene Tate Montrose, COLarry Tate Colorado Springs, COMarlene Tate Meeker, COVernon Tate Huron, SDJames and Sonya Thieme Elbert, CON. C. and M.M. Thomas Cincinnati, OHSally Thomas Broomfield, COTara Thomas Moorpark, CAJames Thompson Grand Junction, CODiana Thurmond Westminster, CORose Tocke Helena, MTRichard Todd Montrose, COBruno and Annette Tomaino Chatham, NJJoseph and Marilee Torpey Pueblo, COTrask Construction, Inc. Hailey, IDDarryl and Susan Traywick Denver, COValerie Trujillo Littleton, COEdith Tuttle-Gutowski Pontiac, MIDale Underwood Gallup, NMPatti Van Beek Fort Collins, CONancy Van Diepen Albuquerque, NMGarth Vaughan Pueblo, CO

Janet Vella Arvada, COJanet Vincent Barkhamsted, CTJames Vosberg Leadville, COMark Walker Scottsdale, AZMike and Joey Wallace Seneca, SCPriscilla Walsh Fripp Island, SCGary Waneka Steamboat Springs, COCharles Watkins Colorado Springs, COBrett and Pam Welker Centennial, CODorene Wendland Colorado Spring, COOliver and Mary Wesley Castle Rock, COJames Whitney Albuquerque, NMTaylor Wieczorek Jones, OKJames Wieger Evergreen, COCarl Winsor Lamar, COJames and Marietta Witt Littlestown, PAMichelle Wood Littleton, COHoward Wunker Loveland, OHIva Jean Young Bryan, OHCarol Zadrozny-Skaer Grand Junction, COAdam Zeidler Colorado Springs, CORobert Zenzic Santa Monica, CAJerry and Diane Zummach Sheboygan, WI

Western state College FoundationPost Office Box 1264 • Gunnison, CO 81230

(970) 641-2237 • (970) 641-2239 [email protected]@western.edu

Also, see our web site: http://www.western.edu/found

The Foundation is the primary depository of private gifts in support of Western State College. It isresponsible for the management, investment and disbursement of charitable gifts according to donor stipulations. The Western State College Foundation, Inc. is

tax-exempt under Sec. 501 (c) (3) of the Internal Revenue Code and gifts to it are deductible under Sec. 170 (b)(1)(A)(iv).

Project Coordinator, Deborah Hoskins, Design by Terri Lennon Murphy, WSC Professor of Art

FOUNDATION

Western State College Foundation, Inc.909 East Escalante DriveP.O. Box 1264Gunnison, Colorado 81230

Documents

Report of Appreciation 2008-09