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January 24, 2011

Dear Grantees, Investees, Colleagues and Friends
of the F.B. Heron Foundation,

On behalf of the Board of Directors of the F.B. Heron Foundation, I am delighted to announce the appointment of Clara Miller as the Foundation's next president. Ms. Miller founded and, for the last 30 years, has led the Nonprofit Finance Fund, a national leader in nonprofit, philanthropic, and social enterprise finance.

The Heron Foundation has known Clara and followed her innovative work for many years. The evolution of our own work and thinking has benefited significantly from her example and thoughtful writing about the nonprofit sector.

Since 1995, the Foundation has been pleased to provide grant and program-related investment support to Nonprofit Finance Fund as it has developed, under Clara's leadership, into one of the country's premier community development financial institutions. NFF provides loans and financial consulting services to nonprofits and advocates smart financial practices to the entire sector. It is a valuable resource for organizations that are pursuing the Heron Foundation's mission of helping people and communities to help themselves.

Clara will bring to the Foundation a wealth of knowledge and relationships, as well as a national reputation for being a tireless innovator and advocate for institutions effecting social change and progress. Her broad engagement with the nonprofit sector includes service on the boards of Grantmakers for Effective Organizations (GEO), PopTech, GuideStar, Enterprise Community Loan Fund, and the Robert Sterling Clark Foundation. Clara is also a member of Bank of America's National Community Advisory Council, the Nonprofit Advisory Council of the Financial Accounting Standards Board, and Independent Sector's Nonprofit Programs and Practice Committee.

Clara is uniquely qualified to lead the Heron Foundation. We look forward to benefiting from her vision and creativity and are confident of being able to provide even greater service and support to the Foundation's grantees and investees under her direction.

Clara will begin at the Foundation on March 1. She succeeds Bill McCalpin, a Heron Foundation director, who has served as interim president since May 2010. The board is grateful to Bill and to all of the members of the staff for their dedication to serving the Foundation's grantees and investees through an extended period of transition and uncertainty. Their commitment has enabled this outstanding result.

Sincerely,

Buzz Schmidt
Chairman
Board of Directors

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