<p>
	Dear Friend of Au Sable,</p>
<p>
	I am excited to send you a copy of our&nbsp;<a href="http://library.constantcontact.com/download/get/file/1102930748754-76/AnnualReport-2010.pdf" target="_blank">2010 Annual Report</a>&nbsp;(click on link to view report) and inform you of the various ways in which the Institute&nbsp;continues to be a leader in training the next generation to care for God&rsquo;s Earth. &nbsp;</p>
<p>
	I am delighted to report that Au Sable has made great progress toward financial stability. &nbsp;This financial turn-around has been possible through a combination of new funding sources, reduced expenditures, and careful allocation of resources. &nbsp;Eight new Sustaining Partner colleges and the generosity of Au Sable&rsquo;s supporters have been vital. &nbsp;We received a &ldquo;clean,&rdquo; full audit for the 2010 fiscal year, and our total revenue, including gain on investments, exceeded expenses by a comfortable margin of $137,483. &nbsp;While we continue to be cautious and diligent, we are also optimistic.</p>
<p>
	We have stabilized our programs. &nbsp;At the end of September, Au Sable&rsquo;s Whidbey Island campus and programs incorporated into a separate &ldquo;sister&rdquo; NGO called the Pacific Rim Institute (PRI). &nbsp;This is a critical milestone, and a tribute to the efforts of Dr. Robert Pelant and the entire PRI Board. &nbsp;Au Sable contracts with PRI to continue offering courses for our students. &nbsp;In addition to courses, their program includes research and restoration initiatives on this unique western prairie remnant.&nbsp;</p>
<p>
	Stabilizing our finances and programs allows us to better fulfill our mission and strengthen what we do best: provide an outstanding education and community experience for our students. &nbsp;Our long-standing academic program completed another successful year with 22 courses taught in Michigan and Washington and one course in India. &nbsp;We are also pleased to announce a new international course this spring, Tropical Agriculture and Missions, to be taught in Costa Rica. &nbsp;We continue to work hard to find news ways for our courses to give students knowledge and skills to understand, preserve and restore God&rsquo;s creation.</p>
<p>
	While our financial situation has been improving, we continue to face challenges. &nbsp;In our annual report&rsquo;s financial&nbsp;statement section, you will note an income item of $297,840 labeled &ldquo;royalties.&rdquo; &nbsp;These funds come from the oil and gas well that has funded our endowment. &nbsp;The endowment helps to support our operations, capital improvements, and generous scholarships for the academic and environmental education programs. &nbsp;Unfortunately, these well royalities are declining just as we are beginning long-delayed capital improvements to our Great Lakes Campus. &nbsp;This makes our commitment to securing and strengthening other funding sources all the more vital, and we humbly request your assistance in making this possible.</p>
<p>
	Au Sable is making a concerted effort to ensure our long-term financial stability and growth by enhancing our&nbsp;development program. &nbsp;One vital part of this effort is establishing a significant donor base. &nbsp;We deeply thank those of you who responded to our financial needs by giving this past year. &nbsp;We couldn&rsquo;t do our work without you. &nbsp;If you would like to make a special gift toward specific needs, or if you have a good contact with someone in a foundation that supports&nbsp;programs such as ours, please write, email or phone me or Associate Director Dr. Dave Mahan.</p>
<p>
	Your gift in any amount will be greatly appreciated. &nbsp;You may use the enclosed return envelope or donate on-line at our website (www.ausable.org). &nbsp;</p>
<p>
	Sincerely,</p>
<p>
	Dr. Martin Price, Executive Director</p>
