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• The Greatest Walk On Earth: New Zealand’s Milford Track
• Bobby’s Blog — Don’t Worry.  Be Happy!
• Endowment—To Be Or Not To Be?
• Putting It All Together
• Bobby’s Blog—India

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Frankly, I never considered walking 35 miles through the wilderness over three days carrying a backpack. And, if the thought had ever crossed my mind, I am certain it would not have rated highly on the “expectation of fun” scale. Yet, on the recommendation of a friend who had worked in New Zealand’s national parks, this is precisely what my wife, Marilyn, and I set out to do.

The Milford Track promised much more than spectacular scenery. Unlike Australia, there are no poisonous snakes in New Zealand. There are no bears or other large animal predators. There is no pollution, and you can drink water from the streams. Finally, Ultimate Hikes offers guides and well stocked huts in which to relax after each day’s adventure. Given that Marilyn was bound and determined to accomplish one of the “great walks,” this one seemed to me like a reasonable risk.

What would you expect in a walk that bills itself as the greatest on earth? Rushing rivers and streams, crystal clear lakes and dramatic waterfalls? Check.  Lush rainforest vegetation? Check. Unique native plant and animal species? Check. Phenomenal vistas? Check. Fascinating history of daring explorers who blazed the trail? Check. More stars than you ever dreamed existed visible in the nighttime sky? Check. Fascinating fellow travelers from other foreign countries (Japan, Malaysia, New Caledonia, Australia, Canada, England in addition to New Zealand and the U.S.)? Double check!!

I am sure that some people reading this blog will reflect on their own adventures in places like the Andes, the Himalayas and Africa. I know that others have “roughed it” more than we did. In fact, many people on our trip mused on their adventures in these and other remote places. However, everyone marveled at this geological, geographical gem. And, despite the end of day comforts, the physical challenge was considerable.

New Zealand is a place where you could teach an entire science curriculum with nature as your classroom. Its land has been pushed out of the ocean due to the movement of tectonic plates, so earthquakes as Christchurch continues to experience are frequent. Active volcanoes, particularly on the North Island, shape much of the landscape.  Glaciation is even more prevalent, particularly on the South Island, where fiords, broad valleys, deep lakes and dramatic cliffs are still being carved. Avalanches of rocks, trees or snow constantly change this rapidly evolving land. Road and trail repair crews are consistently challenged to keep pace.

The entire country is as immaculate as one can imagine. Everyone seems to be an environmentalist. Over 70% of New Zealand’s power is produced by alternative sources, primarily hydroelectric, geothermal and wind. Recycling is a religion. One of our B&B’s offered a recyclable bag behind the door to take when you go shopping. Even in the cities, the air is spectacularly clean.

The highest point of the Milford Track, Mackinnon Pass, stands at 3,786 feet. From this vantage point you can see three glaciers whose retreats have carved the spectacular valleys that stretch in all directions below. You do not see a farm, a residence, a cell tower, an electrical line or any other indication of modern life. This is nature. Pure. Raw. Unplugged.

Our final day of walking covered 13 miles in steady rain, which produced cascades of water at every turn. Rivers and streams became raging torrents. Former thin ribbons of water now gushed over cliffs a thousand feet high. The adrenaline rush exceeded any action film I have ever seen, as we forded swollen streams and wove our way to the trail’s end at Sandfly Point.

As I reflect on this life altering experience, I know that I have only begun to grasp its significance. So I will summarize simply. We intruded gingerly, we took nothing and we returned with riches beyond our imaginations.

New Zealand—One of the Happiest Countries on Earth

I will spare you from having to read yet again about New Zealand’s incredible scenery, clean air and fascinating blend of Maori and British culture. What strikes me as much is how happy the people are. Pick your poll—Gallop, OECD, Yahoo.com, Wikipedia or Forbes—and the results are clear. The Kiwis are a happy lot!

There are a lot of highfalutin explanations, but the best I have found was in our road stop today in Bulls on the North Island.  The welcome sign says, “Bulls: A Town like…NO UDDER.” Every storefront is in the game, and every shopkeeper stands ready to engage visitors in the fun. The municipal parking lot says, “Park-a-Bull.” A restaurant sign says, “Eat-a-bull.” The book store sign says, “Trash and Treasur-a-bull.”

Oh, this town plays the theme to the max. The ATM sign says, “Bank-a-bull.” The public restrooms say, “Reliev-a-bull.” The Bulls Museum, which recounts the remarkable story of the town’s founder, James Bull, has the tag line, “Memor-a-bull.” Municipal waste cans say, “Response-a-bull.” The Medical Center sign says, “Cure-a-bull.” The Pharmacy sign says, “Indispense-a-bull.”  The Fashion Outlet sign says, “Fashion-a-bull.”

So, how many people do you think stop in this town like we did and spend money, rather than whisk by? I am not exaggerating when I say that everyone in town was into the fun, and the cash registers just echoed, “Cha-Ching, Cha-Ching, Cha-Ching!”

So, Richmond. We tout ourselves as a hotbed of creativity. Let’s come up with a historically relevant bovine on which to theme our attractions. Why can’t we just be such a fun place to visit that you can’t pass us by?

And, if this idea is the best there is, then let’s just make it easy and copy it. I mean, we could call Bull’s, New Zealand our “Brother City” down under. And absolutely everyone can get into the theme, even the lawyers and the financial planners. Imagine how happily you will pay your next bill, which accounts for “Bull-a-bull hours.”

I have had five thoughtful conversations in the past week with donors who are struggling with the question, “Should I give for endowment?” Since the year-end is a time we reflect on our values, our goals and our legacy, it is appropriate to devote my year-end blog to the ultimate expression of these values—endowment building. What are the pros and cons of giving for endowment?

Endowment Pro: A well stewarded endowment pays dividends forever, whether its focus is the arts, health, human services, the environment, education or simply to meet the changing needs of the community. Contrast this outcome with gifts for new structures, new exhibits and new programs, all of which provide important present benefits but require future expenditures for maintenance and ultimately replacement. How many capital campaigns renovate distinguished buildings of an earlier era for many times their original cost in an effort to adapt to changing usage? A capital gift meets a present need but imposes a future cost, while giving to a well managed endowment is truly a gift that keeps on giving.

Endowment Con: “This concept is fine in theory, but endowments can be hoarded, mismanaged or expended by boards that simply ignore donor intent. So, I would rather my money be spent on something I can physically see like a campus building that has students passing through its doors daily.”

Observation: Some endowments are unquestionably mismanaged. Most frequently, mismanagement comes in one of two forms. Endowed organizations are constantly tempted to dip into their endowments to meet current needs, even though that wasn’t the donor’s intent. Also, many nonprofits are not expert at managing endowment for long term performance. This is why third party endowment experts like community foundations are needed to ensure that donor intent is honored and to give the donor the highest probability of solid investment management over long periods of time. (In order to maximize long term investment performance, The Community Foundation Serving Richmond and Central Virginia partners with the University of Richmond—one of the best managed university endowments in the country—to invest its endowed funds.)

Endowment Pro: Think of endowment as “retained earnings” for nonprofits. Retained earnings enhance a business’s financial stability and provide it the flexibility to seize new opportunities. Nonprofits generally expend all their resources each year, but they have similar needs for financial stability and for risk capital to respond to changing needs in creative ways.

Endowment Con: “I hear you, Thalhimer, but I earned this money that I am giving away, and I want to see it put to work during my lifetime. I see the problems today, and I want to help solve them now. What happens in the future is somebody else’s problem. If I can fund a promising research project or meet a pressing need, then that’s where I’m going to give my money. ”

Observation: Both arguments have validity. Donors choose to what extent they will give for projects today and whether they will also provide endowment for ongoing support. Philanthropy is a personal choice and is maximized in the aggregate when donors with diverse giving philosophies follow their passion.

Concluding thought: If we fail to endow the contemporary causes we support for their operating, programmatic and capital needs, then the next generation will have to replace our level of giving (and maintain the structures we have built) just to maintain the status quo. Progress and real systematic change can only be made over the long term if we build the financial capacity of the nonprofit sector through endowments so that new money raised can be used to address new needs.

Happy holidays to all of my readers, and best wishes for a year of good fortune and good deeds in 2012! My next blog will be from New Zealand in mid-January. Cheers!

What was your favorite place? This question gets the award for the most frequently asked upon our return from Asia to Richmond. So, you would think that after two weeks I would know the answer, but I don’t. A broad educational experience simply doesn’t lend itself to sound bite responses. However, I will do my best to mimic Richmond Magazine’s “Best and Worst.”

For natural beauty, it is difficult to best Hawaii; although Japan’s mountains, lakes and gardens come very close.  If I had to choose to live in Japan, China, Vietnam, Cambodia or India, then Japan would win hands down. In addition to natural beauty, the people seem gracious and polite, orderly, clean, welcoming and spiritual.

For economic importance, China astounds. Its government operates seemingly with singularity of purpose—to replace the United States as the most powerful economy on earth. By sheer numbers and the seeming ability to maneuver its people however it wishes, this outcome is not only probable but will likely occur sooner than western experts think. The economic engine of the world has shifted eastward, and Asia is anchored by the Chinese. It will be interesting to observe whether an apparently imminent bursting of the real estate bubble and local stories about their usurious underground banking system delay this inevitability in any meaningful way.

For the best food, I would choose Vietnam. Their Asian flavorings are influenced by the historical presence of the French, and fresh vegetables abound. Cleanliness is less of a detractor than it is in China, where we never felt we could lower our guard in restaurants. Japan wins the award for cleanliness, and its sushi is fantastic. But, after a while you just need a break from raw fish. It amused us to see sushi offered in other countries, where one would be taking one’s life in one’s hand eating anything uncooked!

Cambodia was the most exotic locale we visited. Driving through flooded streets and seeing how orderly life continues for most people instructed me not to over-react to everything I read in the newspaper. While this year’s floods were extraordinary, the rivers flood annually during the monsoon season and people are used to it. Cambodia’s poverty is palpable, and it stands in stark contrast to the glorious civilization in the 12th century that its magnificent ancient temples reveal. The killing fields and land mines are a part of their recent past and present reality, respectively, and yet one senses that this country is emerging in the interest it holds for adventuresome travelers.

India was the most important country we visited because of its contrast of richness and poverty, its blending of the world’s major religions and cultures, and the blossoming of its youthful culture within an environment that is steeped in strict tradition and mired in bureaucracy. For millennia the world’s cultures and religions have co-existed at this crossroad between East and West, yet the dominant Hindu culture prevails. The haunting soulfulness of Varanasi and the weightless beauty of the Taj Mahal delight despite the distraction of ever-present filth. Amazingly in India the ground is one’s trashcan, the rivers are open sewers, and close to half the population is locked in poverty. Yet, the future is bright as an emphasis on education, particularly in the south where there has been a strong Catholic influence, is unleashing a technological powerhouse. The mix of old wealth, new wealth and extreme poverty provides a breeding ground for philanthropy, which we did not witness in any significant way in the other countries we visited.

How have my views changed? I am more of a free market economist and more strongly (if that is possible) in favor of free and open trade. The U.S. has to accept that labor is cheaper in other countries and that the economic center of gravity is shifting eastward. Education and technology are leveling the playing field worldwide, but these are areas in which the U.S. has a competitive advantage. We need to embrace that advantage and compete for our share of emerging wealth, rather than construct barriers in what will ultimately be recognized as a fruitless effort to preserve the past world order. I am convinced that education is the only effective solution to poverty over the long term.

I am more of an environmentalist, having witnessed how the Chinese sacrifice the purity of their air and water with abandon in their pursuit of economic growth. Similarly, India’s blatant disregard for “Mother Ganges” and its trashing of the earth’s surface made me long for the relative cleanliness of the James River. If only the land of Gandhi could produce a Ladybird Johnson!

I am more of a pacifist. The juxtaposition of Pearl Harbor and Hiroshima in our travels was saddening in a way that continues to haunt me. The horrors of the Vietnam War were revealed from the other side’s perspective, leaving me torn between my admiration for our heroes who answered the call to duty and my heightened disappointment that our leaders unleashed chemical weapons on the Vietnamese people and their environment. The peace movement, which seemed mostly flighty and irresponsible to me at the time, now seems to have had at least a valid point of view. I return both cognizant of the need for national security and hesitant to support using our power beyond our borders except when absolutely necessary.  Travel makes one more aware of how our actions are perceived from the perspective of others.

I have come to the realization that governing is a messy business EVERYWHERE. Every country we visited is fighting corruption. We heard over and over how inefficient and bureaucratic each governmental system is. In the U.S., our government seems to get it right as much as any, despite the daily acrimony that dominates the press. The one exception is that our travel companions from Canada and Australia seemed universally pleased with the quality and cost of health care in their countries, so that is something to which we should aspire.

I expected to return ready to invest more in emerging markets, but such is not the case. India is the exception, as they have a younger demographic than their Asian peers, a strengthening commitment to education and a system of government that is least oppressive. However, now I more fully recognize the stability and strength of the U.S. economy and its currency. Our challenge is to eschew deficit spending before we forfeit this most important competitive advantage over our worldwide competitors.

Travel breeds humility. After being among half of the 7 billion people on this planet, it becomes obvious that no one point of view will dominate on the world stage for very long. The ability to extend one’s influence over time on a playing field increasingly leveled by education and technology hinges on one’s willingness to engage with others creatively and respectfully. Leadership has to be earned, and it can be forfeited by a single misguided decision.

Nevertheless, it is impressive how resilient we all are. The Japanese have rebuilt Tokyo seven times, most recently from the firebombs of World War II. Today, the Japanese view Americans as their closest allies. The Chinese are flourishing following occupation by the Japanese up to World War II. The Vietnamese welcomed us seemingly without hesitation.

Education is a lifelong endeavor. We need it to enter our chosen professions. We need it to refresh our skills in an ever-changing workplace. We need it to stave off the inevitable narrowing of our experiences and perspectives as we age. As I prepare for the next leg of our travels in New Zealand and Australia, my mind is newly opened to how much I don’t know.

Before me in the synagogue were hundreds of people—classmates, teachers, parents and the Rabbi—politely listening to yet another confirmation speech. Only I spoke not about a customary aspect of the Jewish faith; rather, I compared the Jewish concept of death and the afterlife with the traditions of other faiths. Eyes opened widest as I described the Hindu funeral pyres by the Ganges River, where the ashes are subsequently spread into the very same waters that people bathe, wash clothes and worship the morning sun.

In Varanasi, the images I had described cursorily in black and white 43 years ago burst forth in an array of color, sound, smells and emotions. This is a city where people come to die, and they also daily celebrate life by bathing in and praying beside the Ganges.

In the evening, we reveled with many hundreds of people also floating on boats in the river to view thousands more gathered along the bank to hear the ancient chants of 7 priests as they “put the Ganges to bed” for the night. Before dawn, we boarded rowboats to watch the morning rituals of the local people and Hindus on pilgrimages from various Asian countries. Some people meditated, some prayed in groups and others prayed before shrines. Everything occurs amidst shocking scenes of poverty and sounds of a hectic yet exotic culture.

My thoughts are consumed with the meaning of this place, which is the holiest of holies for Hindus and Buddhists. Buddha gave his first sermon here, so this is the religion’s birthplace. Groups stream in to pray with a monk at the site where he spoke, which is marked by a stupa (large ancient sandstone monument) surrounded by the remains of a temple and other structures. Varanasi is like Jerusalem and Mecca in one location.

I am most struck by the similarities among religions, notably Hinduism and Judaism, which unexpectedly seem to have borrowed from each. One can imagine people from the East and West intermingling here through millennia. During the evening service, priests blew an incredibly long blast on conch shells, which sounds much like a tekiah gedolah blown on a shofar (ram’s horn) during the Jewish High Holy Days. The six pointed star and the swastika are frequently seen Hindu symbols. The Hindu God, Shiva, is the patron of mourning, and in Judaism it is customary to sit shiva while mourning. The entire evening service involves fire, incense and captivating chants, which except for the lack of the Hebrew Language was reminiscent of the Havdullah Service, which closes the day’s prayers.

After leaving Varanasi, we flew to Khujaraho, where we had a very different ancient Hindu temple experience. What a difference the gods Shiva and Krishna make! This turn of the millennium temple is covered with magnificently preserved sandstone carvings, the most dramatic of which demonstrate the positions of Karma Sutra. Sex sells, as our group bought a record 50 souvenirs. We only have 20 people in our group, so we will have some enlightened family and friends! These people had a good time back in the 11th century before they dealt with dying.

This blog would be less than honest if I didn’t describe the filthy conditions here. We saw raw sewage flowing into the Ganges (the treatment plant wasn’t working) just upstream from where people were swimming and washing. The streets, countryside and railroad tracks are littered with trash. People sweep the sidewalks in some places, but leave the dirt and trash in piles, where animals rummage. Nobody seems to care.

Yet, this is the reality of India. Contrasts. Beauty and repugnance. Grandeur and abject poverty. Modern airports and narrow, pitted roads for highways. Serenity and stifling bureaucracy.

Before I left Richmond, a friend told me that India would be the most disturbing and most rewarding part of our journey to Asia. As I anticipate tomorrow morning’s sunrise at the Taj Mahal, I have to say that he was right.