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As president of the IMSA Fund board of directors, it is my privilege to share with you, our shareholders, a copy of the 1991-92 annual report of the IMSA Fund for Advancement of Education.

This has been a record year for the IMSA Fund—an achievement all the more noteworthy in light of the recessionary economy and uncertain futures for many corporations and individuals. In a time when many people are having to make difficult choices, we are grateful you chose IMSA as a sound investment in the future.

The IMSA Fund raised nearly $1 million in 1991-92. The $963,245 total represents a 10% increase over last year's total with a 21% increase in the number of donors. I believe this growth can be attributed to several factors, including the leadership of the IMSA Fund board of directors; the impressive record of success on the part of the IMSA board of trustees, faculty, staff, students and parents; and the vision and commitment of you, our donors.

Excerpt: From the Fund Board President



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