Dear Friends,

A Springtime of Troubling Ripples…

By everyone’s estimate, the private sector economy is in trouble. Record oil prices with its own residual effects (the price of crude oil in September of 2003 was $25 a barrel), the sub-prime lending calamity, and the overnight disappearance of an iconic $161 billion investment bank, the tumbling dollar and other discouraging signs dominate the news. The debate over whether we are or aren’t in a “recession” seems now largely irrelevant. Forecasts of a turnaround, bottoming out, recovery or directional movement seem to come in an endless variety of colors. Aside from the fact that “things don’t look so good,” there is little precision in the expert opinion that’s available.

If the private sector seems confused, the non-profit picture is even murkier. The ripples of economic slowdown make planning, setting strategies and project development an uncertain endeavor. However, the emotional component of charitable giving sometimes defies the economic environment. Recently, emerging opinions of experts in our field indicate that those who value an organization’s mission will continue to be supportive. We are hoping that “Cabrini family” members will help us stay the course and continue to assist us in pursuing the vision of Mother Cabrini. Cabrini Mission Foundation is fortunate in that we have great “family” members like you, and we have a wonderful story to tell. We are so deeply grateful for the friendship and support so many of you have shown throughout the years.

I believe that with prayer and lots of hard work, we will weather this difficult period. We are also taking steps to make it easier for our friends to support CMF. For example, the Cabrini Open Golf Tournament, which for the last ten years has been operated by Cabrini Medical Center, is now a Cabrini Mission Foundation event. We have restructured the tournament and reduced prices by over 15%. On June 26, 2008, we are looking forward to welcoming friends, old and new, to this wonderful day of golf, tennis and camaraderie at the beautiful North Hills Country Club in Manhasset, NY. I hope you will join us. To learn more about the Cabrini Open, please call 212-995-7003.

Sincerely,

William R. Bell
President & CEO