Speckhard - Knight Charitable Foundation

Recent News:

SKCF kept a guarded eye on the 2005 stock market and investment climate. Returns were adequate, certainly in the black. The Foundation continues to pare expenses and grant within the IRS and the 5 % payout rule. Our goal is to grow the fund for both its future and to increase our ability to make grants.

For 2006 our advisors are predicting a 6 to 9 % return, with a hearty portion derived from dividends and interest. Hopefully the large caps will burst forth and drive the market. With oil prices, China, the important war in Iraq and 2006 congressional elections this is no guarantee. We will closely monitor our investments and husband our resources.

On the grant making front, we began some positive new relationships with conservationists in Brazil, Adoption experts in Michigan and provided capital to build ICAN low income housing in always expensive Ann Arbor. We continue to be impressed with the passion and expertise of the non profits we fund as well as those we decline.

Lastly, the advice, retreats and online information provided by Council of Michigan Foundations proved vital, useful and pertinent to our operation. CMF is is an important resource in the philanthropic world. We look forward to many interesting grant requests from the non profits in 2006.