[computerworks]

Originally Posted by clayfoushee

So, what happened to the "explanation letter?" All I see is "Page Not Found."

Them servers cost too much.

July 23, 2007

Dear Friends and Supporters,

I was surprised by Kathy Jackson’s recent misinformed article about the Carroll Shelby Children’s Foundation that appeared in Automotive News and its sister publication AutoWeek. Some who read this article might think that the Foundation is not running on all cylinders. Nothing could be further from the truth.

We’ve throttled back a bit on our giving because we are committed to create a perpetual endowment. It’s routine for non-profit organizations to build an endowment that ensures the group can continue its mission in the future. At 84 years old, you can understand why I’m concerned with this issue. I want the Foundation to do great work years after I’m not around.

Though we’ve experienced a few growing pains, I’d like to point out a few important items:

We’re not “skimping on the giving.” While the Foundation will certainly continue to donate money to deserving kids and groups, everyone on the board is first committed to building the endowment so we don’t run out of money once I can’t sign autographs to raise funds. We won’t toss out our long-term strategic plan for a short-term benefit because of misinterpreted information discussed during an interview with a Shelby executive.
I hired Jenni Shreeves, a very capable Foundation director and very recently expanded the board to help us reach our endowment goals; they are helping me make donation decisions that won’t risk the Foundation’s future financial security.
I’ve been searching for another person from outside the auto industry with expertise in this area to join the board of directors and provide additional expertise, as well as different perspective.
Prior to working with Ford Motor Company beginning in 2006, I personally raised almost all of the funds for the Foundation by donating my personal cars and signing autographs. Sooner or later, I will run out of cars and the ability to sign autographs. Working with Ford has allowed us to take that next step and build a more diverse donor base for the Foundation.
With the sudden inflow of significant money over the past 18 months, we tapped Wells Fargo to analyze our strategic plan and help us manage these funds. It is prudent stewardship to put on the brakes instead of throwing around money like a drunken lottery winner. We expect to announce their findings shortly.
What began as an effort to help kids has become much larger than I ever imagined thanks to many wonderful people, including partners such as Ford. While our fundraising was once confined to small donations, they have dramatically accelerated our efforts. We are much closer to making more substantial and more frequent donations for years to come.

The team is meeting our challenges head-on while building a world class organization. I invite you to talk to Jenni, one of the board members or me anytime. I am sure you will be impressed.

Sincerely,


Carroll Shelby