Foundation History The Sapelo Foundation grew out of Richard J. Reynolds, Jr.'s interest in Sapelo Island, one of the many barrier islands along the Georgia coast. This coastal region, rich in culture, history and natural resources, captured the interest and imagination of the young tobacco heir upon his first visit in the early 1930's. Over his lifetime, Mr. Reynolds developed a deep appreciation for the beauty, history and culture of Sapelo Island. He was especially intrigued by the vast saltmarsh ecosystem separating Sapelo from the mainland. In 1953, he created the Sapelo Island Marine Institute as a research affiliate of the University of Georgia. The Sapelo Foundation served as the vehicle for the development and operation of the institute until 1976 when the University of Georgia took charge and the foundation turned towards funding charitable activities. Over the years, the Sapelo Foundation has become one of the more progressive foundations in Georgia and the greater South. Through its broad grantmaking program, it furthers Mr. Reynolds' philanthropic goals, still dear to the family, of promoting positive social change and natural resources protection for the benefit of all Georgians.

Core Values & Funding Areas The Sapelo Foundation promotes progressive social change affecting, in particular, vulnerable populations, rural communities and the natural environment in the state of Georgia. The Sapelo Foundation: Works to empower people who are powerless or marginalized. Acts as a catalyst in promoting change primarily through affecting public policy. Is strategic and proactive in its funding and leverages financial resources. Convenes potential partners around issues. Encourages collaborative action and networking, particularly among groups with differing racial, cultural, and ethnic backgrounds. Takes risks in grantmaking and encourages other funders to participate. Shares experiences with foundations and other potential partners. To accomplish this purpose, the Foundation currently supports: Environmental Protection and Social Justice For more information on the Foundation's focus area, please visit the What We Fund page. Sapelo Foundation Trustees & Staff Officers Henry H. Carey   President Dr. Annemarie Reynolds   Honorary President Katharine R. Grant   Vice-President Irene Reynolds   Secretary William K. Broker   Treasurer Trustees Nicole Bagley Susan L. Carmichael Bettieanne Hart Russell Long Tirso Moreno The Honorable Nan Grogan Orrock Staff and Counsel Phyllis Bowen Executive Director Barbara S. Bowdry Program Officer/Office Manager Benjamin T. White Alston & Bird, L.L.P. Counsel Reynolds family members continue to play an active role in the foundation Financials The Foundation operates on a June 30 fiscal year. These figures are for the end of each year. 2006 2005 2004 Net Assets $33,068,233 $33,011,704 $34,476,480 Expenditures   Administration $ 285,442 $ 266,600 $ 266,600   Assets Management $ 115,040 $ 87,426 $ 80,483   Taxes $ 22,231 $ 14,737 $ 49,614   Grants & Scholarships $ 1,144,109 $ 1,494,019 $ 1,482,769