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9GovernanceandAdministrationIn2011weexperiencedasmalldeclineinassetswhichwere2.16billiononDecember312011comparedwith2.23billionthepreviousyear.OntheollowingpagewehaveincludedachartlabeledTotalAssetsatMarketValue2011Dollarswhichtracksourassetperormancesince1963.As2011drewtoacloseIknewthenewyearwouldbeoneochangegiventheannouncedretirementsothreekeystamembersMaureenH.SmythourseniorvicepresidentofprogramsandcommunicationsJackA.LitzenbergseniorprogramofcerandJeanetteR.MansourwhoactuallywasplanninghersecondretirementromtheFoundation.But2012broughtsomeothersadandunanticipatedchangesaswell.InMarchTrusteeRushworthKidderpassedawayfollowedinJunebyTrusteeJohnW.Porter.BothgavetheFoundationmanyyearsoserviceRush22yearsandJohnnearly32years.ItsimpossibletodescribethewiderangeocontributionsthesetwoindividualsmadetoourboardaswellastotheFoundation.Bothwerethoughtulmenwhoroutinelyaskedprobingquestionsandoeredkeenobservationsduringanyandalldiscussions.WithRushsquickjournalistsmindwecouldalwayscountonthepresidentotheRockportMaine-basedInstituteforGlobalEthicstooerareshperspectiveandsummarizecomplexdiscussionssuccinctly.Johnwhohadalonganddistinguishedcareerinthefeldoeducationkeptoureettothefrewhenitcametosettingbenchmarksandassessingbothourgrantmakingprogressandimpact.BothRushandJohnaremissedandtheirlosseswillbeeltoryearstocome.WealsolostthecreativeenergystrategicthinkingandloyaldedicationofMaureenJackandJeanettewiththeirretirements.MaureenjoinedtheFoundationin1984asaprogramassociatetakingonasuccessionoprogressivelymoreresponsiblepositionsthroughtheyearsandretiringasseniorvicepresidentoprogramsandcommunications.MaureenmanagedourprogramstathroughaperiodogrowthandchangehelpedtostreamlinetheFoundationsgrantmakingstructureandinstitutedanumberocriticalpracticesandproceduresthatimprovedourgrantmakingprocesses.Hersharpmindandgraceulmanagementstyleweretrueassetswecametorelyon.JackalsojoinedtheFoundationin1984andservedinvariouscapacitieswithintheFlintAreaandthePathwaysOutoPovertyprogramsincludingprogramofcerprogramdirectorinterimprogramdirectorandseniorprogramofcer.Alwayscompassionatehonestandlaser-ocusedJackdevelopedanationalreputationforhisinnovativegrantmakinginnotonebuttwofeldsmicroenterpriseandaparticulartypeofworkforcetrainingknownassectoralemploymentdevelopment.JackwonseveralawardsorhisworkthroughtheyearsthemostprominentbeingtheRobertW.ScrivnerAwardorCreativityinGrantmakingin1994romtheCouncilonFoundations.JeanettecametoworkforMottin1978andservedinseveralpositionsincludingdirectoroplanningortheFoundationandprogramofcerintheCivilSocietyprogrambeoreretiringin1996.NotonetoallowanymosstogrowunderhereetsheimmediatelyreturnedtotheFoundationtoworkasaprogramconsultant.DuringhertimeonstaffJeanettewasinstrumentalinthedevelopmentoourCivilSocietyprogramsCentralEasternEuropeanandRussiagrantmaking.AsaconsultantshecontinuedtoprovidevaluableadviceandassistancetothatteamwhilealsoservingasakeyadvisertotheCenterorArabAmericanPhilanthropyaroleshecontinuestoplay.AllthreeemployeesmadespecialandimportantcontributionstotheFoundationthatwillbelongremembered.Astheynowmoveintothenextphaseotheirlivesw