A RESPONSIBLE APPROACH TO FISCAL STEWARDSHIP
Investment Policy Statement
The Community Foundation’s Investment Committee recommends investment policy to the board of directors, monitors our investment managers and their performance, and periodically reviews Foundation spending policy.
Grants: 4 percent of the trailing 20-quarter average as of September 30 of each year. The 20-quarter average is used to minimize the impact of market value volatility on grantmaking from the fund. This smoothing process provides a steady and predictable stream of grantmaking to the community.
The Community Foundation processes, acknowledges and records all gifts, investment returns and grants or scholarships awarded from each of our endowed funds. To support this service, the Foundation collects 1.65 percent for Discretionary and Field of Interest funds; 1.5 percent for Donor Advised and Scholarship funds; and 1 percent for Designated Funds, of the previous 20 quarters’ average market value as of September 30.
The Community Foundation’s corporate portfolio is invested with institutional mutual funds, GMO and TIFF. GMO fees total approximately .7 percent, while TIFF fees vary based primarily on the degree of out-performance achieved by its external managers. TIFF is a taxable, non-stock investment company.
Our Trust portfolio is managed by TD Wealth management. Investment fees total .67 percent.