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Treasurer's Message

I AM PLEASED to present the Statement of Activities and Financial Position for the Foundation Fighting Blindness' fiscal year that ended June 30, 2010.

The Foundation realized revenue growth of nearly 13 percent over the 2009 fiscal year, despite the continued slow recovery of our nation's economy from the recent recession. Importantly, the increase in revenue extended across most of our fundraising programs including events, contributions and direct mail. This broad base of revenue growth is a reflection of the overall strength of the Foundation's development program and the sustained, strong commitment from our entire donor base.

In light of the economy, the Foundation budgeted conservatively for research and public health information programs in FY 2010. The Foundation spent 7 percent less on research and public health information in FY 2010, as compared to the prior year, so we could replenish some of the reserves we had to spend on research commitments during 2008 and 2009.

Thanks to our revenue growth in FY 2010, we are able to increase our investment in research and public health information by 10 percent for FY 2011. In addition, we will be funding at least one new clinical trial in FY 2011 through a grant from the U.S. Department of Defense.

Looking forward, the advent of more clinical trials in the coming years is wonderful news and significant progress towards fulfilling our purpose. However, each human study will cost several millions of dollars, creating a new level of demand for research funding. The Foundation and our volunteers and donors will need to be as creative and resourceful as ever in our fundraising efforts.

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The Foundation appreciates the tireless commitment of its supporters throughout the past year. Thanks to the passion and persistence of the Foundation's family, the future is bright for saving sight for millions of people in the U.S. and around the world.

Our complete financial statements were audited by Raffa, P.C., independent certified public accountants. A complete copy of our audited financial statements is available upon request from the Foundation Fighting Blindness, 7168 Columbia Gateway Drive, Suite 100, Columbia, MD 21046, or at www.FightBlindness.org.

Sincerely,
Haynes P. Lea
Haynes P. Lea
Vice President and Treasurer

» 2010 Research Grants
» Statement of Activities/Financial Position

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