Policies And Fees

The Community Foundation establishes prudent spending policies and collects market-rate fees to perform vital and necessary financial management functions.

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.

Spending Policy

Grants: 4.0 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.

Management Fees

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.

Investment Fees

The Community Foundation’s corporate portfolio is managed by Fiduciary Investment Advisors (FIA) who together with the Finance & Investment Committee apply a conservative approach to investing. Currently, there are 13 funds with a weighted cost of investing of .58 percent.

For more information, please call or e-mail Bob Trojanowski, Vice President and Chief Financial Officer, at 860.229.6018, x314.