From the Chairman and Executive Director

As in the construction of a house, it starts with a concept or vision. In time, the idea finds its way to a blueprint where careful measurements are laid out for the rooms and various aspects of the project. Before any footing is ever laid, the plan is reconsidered and details are fine tuned. Often, these early stages seem to take an inordinate amount of time relative to the entire project.

The sound of construction then takes over the senses. Machinery pours the foundation, saws whir through fresh lumber, hammers bang away to shape the framework.

The utility lines and underpinning structures have begun, wall framing goes up, and roof supports take their place. Suddenly, the progress has quickened with each day offering a clearer perception of what it will look like. A roof goes on, the outer façade enwraps, and interior and finishing work bring final definition to an edifice. A family moves in and the house has become a home. Its purpose is shelter.

For ten years, a dedicated board and professional staff have labored in similar fashion to create and sustain Permian Basin Area Foundation - a shelter of philanthropy. It was created to harbor the charitable resources dedicated by many of you who read this report. You are the individuals, families, businesses, and other entities who seek only to help others.

Indeed, people sharing and working to help others are the builders of our Foundation, and our young history is filled with many examples that demonstrate this truth. In this annual report, we have featured a few stories about the Foundation's work in progress. Some of these stories tell of landmark events that even precede our incorporation in 1989. Others tell of the origins of certain of our component funds and describe the many varied ways in which the Foundation can assist with fulfilling diverse philanthropic goals and serve as a vehicle for doing good work throughout our region.

The Foundation helps give direction to the grantmaking and distributions made available to the many worthwhile endeavors which give value to our area's quality of life. At the conclusion of 1999, the Foundation was approaching $12,000,000 in total assets and had granted almost $850,000. In its brief ten year existence, donors to Permian Basin Area Foundation have helped make possible $3.6 million in support to causes in education, healthcare, human service needs, arts and culture, and community and civic projects.

But unlike the house described above, Permian Basin Area Foundation will always be "under construction." There will always be fertile new minds to educate, needy mouths to help feed, hurts to heal, the beauties of life and art to behold, and opportunities to make our region a better place to live.

We invite you to commit your resources to the work in progress. Your gifts of money, securities, real estate, oil or gas income, or planned gifts and bequests are your hammer and saw. Your gifts are vital to this ongoing endeavor. In this case, the words "Construction Ahead" give hope and promise.

Permian Basin Area Foundation - for good, forever.

Nancy Anguish Chairman, Board of Governors	Jack Swallow Executive Director

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