Daniels Fund (CO) Responds to Economic Crisis

From the fund's Web site:

The Daniels Fund will be making cuts in charitable allocations and operating expenses in 2009 in response to a loss of assets and uncertain market conditions, it was announced today by Linda Childears, president and CEO.

While actual losses will not be known until all investment reports are filed after the New Year, the Daniels Fund started 2008 with nearly $1.3 billion in assets and anticipates ending the year below $1 billion for the first time since 2003.

"The impact of the economic downturn is significant and widespread," explained Childears. "Like everyone else, it cannot be business as usual for the Daniels Fund...."