We have witnessed historic developments in national and international affairs over the past two years (July 2007-June 2009). The global financial crisis and ensuing recession, the election of Barack Obama to the presidency of the United States, the continuing rise of Chinese power, and the mounting crises in Afghanistan, Pakistan, and Iran have transformed the world scene.

Throughout this period, The Chicago Council has helped the leaders and citizens of Chicago understand the import of these global shifts while continuing to strengthen its contributions to the national and international discourse on some of the most pressing issues our nation faces. The Council is a vital resource for Chicago in a globalizing world, for the Midwest region in a turbulent economy, and for the nation in an era when global engagement is under challenge.

I am pleased to report that the Chicago Council on Global Affairs has made great progress on many fronts over these two years. In Chicago, for instance, the Council responded rapidly and effectively to the onset of the financial crisis with a series of very well attended programs interpreting the causes and consequences of the crisis. The Chicago Council also launched the Emerging Leaders Program to equip the city’s future leaders to deal with a variety of global challenges. The timeliness and quality of the Council’s events attracted higher attendance.

On the national front, the most noteworthy Council activity was the landmark study of the importance of agricultural development to reducing global hunger and poverty, made possible by a generous grant from the Bill & Melinda Gates Foundation, that became the blueprint for the Obama Administration’s global food security initiative. The Council also launched the Global Midwest Initiative to examine how the region that powered the American economy in the 20th century could renew its competitiveness in the 21st century.

The Chicago Council’s finances have remained strong through this expansion of activity and the extraordinary pressures created by the worst recession in eighty years. The Council’s budget remained in balance even as it increased from $7.1 million in FY07 to $7.4 million in FY08 and $8.0 million in FY09. The Council’s staff moved rapidly in fall 2008 to reduce expenses in the face of the financial turmoil and uncertainty, and the Council’s many members and supporters sustained their generous underwriting for its important work.

The Chicago Council on Global Affairs recognizes that challenges lie ahead. We will remain vigilant about our financial stability in the face of persistent economic uncertainty, adjusting the scale and scope of our activity to our means. But we are also convinced that The Chicago Council serves a vital purpose in the city and in the national discourse about America’s role in the world. We will continue to seek opportunities to enhance our work to those ends.

I want to thank the entire Chicago community, the Council’s thousands of individual and corporate members, and the many people and institutions beyond Chicago, for enabling The Chicago Council on Global Affairs to continue to serve the city and the nation. I am especially grateful to my fellow Board leaders and members for their commitment to the mission of the Council and their contributions of thought, time and financial resources. I am sure that as they examine this record of continued service by the Council, they will deem their confidence and investment to have been well placed.

Lester Crown