Foundation Enjoys Record-Setting Year in Donations, Projects
Posted 12/18/07
Photo of Henry Frommer & Mike Leichtling During the Foundation Donor Luncheon at the 2007 ELFA Annual Convention The Foundation has set a record! In 2007, more than $500,000 in donations was raised. Not bad for an organization that, just three years ago, raised $150,000. This last year’s donations are about $100,000 more than anticipated. “The increase in donations just goes to show you how the equipment finance and leasing industry is viewing the Foundation and what it does,” says Henry Frommer, who heads up the Foundation’s national development committee. “Clearly, industry members are viewing their contributions as an investment.” Frommer is Senior Vice President and Managing Director of Wells Fargo Equipment Finance, Inc.
Nothing showed off this appreciation better than the standing-room only Foundation breakout sessions held at ELFA’s Annual Convention in October. Several sessions were dedicated to such projects as the Alternative Energy Study and The Propensity to Finance survey. Additionally, “I am happy to report we had new faces on stage with us at annual donor recognition luncheon held at the Convention,” says Lisa Levine, Executive Director of the Foundation. Twenty-six new companies gave for the first time in 2007, and many long-time donors increased their giving level, which added to the increase in donations. She said, other donors even made three-year pledges when they normally committed to just one year.
The increase in donations “will allow us to plan our research projects with confidence,” Levine says. She also adds that the Foundation has reached a “critical mass, which has created a ‘begetting’ cycle.” She explains that when more money is raised, the Foundation is able to produce more and higher quality research products, which, in turn increases attention and begets more funding. This increased funding then allows the Foundation to again increase the quality and quantity of research.
“Thanks to the generosity of so many companies and individuals, we are moving into 2008 with big plans,” says Levine. “And, regardless of how many donations we receive, we will always be committed to delivering a higher return than donor’s investment to every industry member.” Frommer also pointed out that 2008 is expected to be a big year. “We hope to be giving this same report next year – that industry members kept or increased their annual giving to the Foundation.” Given the uncertain economic picture – and thanks to the strategic value each Foundation study or survey has proven to bring– the Foundation Executive Committee believes industry members will have no trouble seeing the benefits of donating to the Foundation today and tomorrow. In the meantime, the Foundation thanks the companies who contributed in 2007, and looks forward to another successful year in developing and delivering future-forward research to the industry.
Visit our Donor Page for a complete list of our 2007 Donors.
Sites of Reference:
http://www.elfaonline.org/pub/events/2007/AC/Pics/FoundLunch/index.html
