Annual Report - 2003
To Our Friends...

2003 was a landmark year for Permian Basin Area Foundation – remarkable in growth in our grantmaking capacity through new gifts and investment performance, and exemplary of the unique means by which our community foundation serves to advance philanthropy.

Of profound impact during the year was the merger of assets from the Scarborough-Linebery Foundation, which has served many charitable needs in our region for nearly three decades. We are sincerely grateful to the Board of the Scarborough-Linebery Foundation for the confidence they have placed with Permian Basin Area Foundation. Most importantly, we are pleased to honor Tom and Evelyn Linebery by assuming stewardship of their charitable legacy.

Permian Basin Area Foundation operates as a permanent endowment offering customized options through which individuals, families and organizations may create lasting philanthropy for their communities or chosen causes. Our strength lies in the generosity of our donors and the commitment of our Board of Governors, Committees and Foundation staff to support the betterment of life in the communities of the Permian Basin.

The Foundation is a resource for caring and a reservoir for sharing, and we are prepared to flexibly respond to donors of all manner and means by receiving and shepherding a variety of assets:

• Cash or receivable income
• Appreciated securities
• Retirement accounts
• Real estate and oil and gas interests
• Life insurance
• Charitable remainder trusts
• Charitable lead trusts

Gifts to the Foundation are invested in a diverse and risk-averse portfolio of securities with a primary goal of long-term appreciation. Depending on the desires of the donor, grants from individual funds may be directed for chosen worthy causes, for scholarships to students pursuing higher education, or as determined appropriate by an active Grants Committee familiar with community needs.

Establishing a fund with the Foundation is simple. Whether you may be considering a living gift or a planned gift, we are available to explore your wishes with you and your financial advisor. We invite you to call upon Permian Basin Area Foundation if we can assist you in creating your charitable legacy.

On behalf of our Board of Governors,

Jack Swallow President & Chief Executive Officer	Betsy Triplett-Hurt Chairman