While 2009 presented serious economic challenges for this nation, and particularly for the low-income communities Teach for America serves, the year also presented new opportunities. The depressed economy forced school districts to cut hiring and struck at each of Teach For America's funding streams, but with the continued enthusiasm for public service, talent--the most precious resource in education reform and historically the greatest constraint on Teach For America's growth--was in greater supply than ever. Moreover, new opportunities in the policy environment produced fresh possibilities for Teach For America, and for education reform in general. As the fourth year of Teach For America's 2010 growth plan is concluded, it is energized by the impact of sustained investments in its four organizational priority areas: growing in scale while increasing the diversity of its corps, maximizing corps members' impact on student achievement, fostering the leadership of alumni as a force for change, and building an enduring institution. This paper presents the 2009 annual report of Teach For America.