The Foundation’s Investment Committee professionally manages and invests Foundation funds long-term growth. In addition, the Foundation’s Audit and Compliance Committee monitors gifts received.
Both committees meet at least once quarterly to review the Foundation portfolio in light of current economic conditions and to ensure prudent procedures that help the Foundation maintain a high standard of trust, effectiveness and accountability, including:
- accurate receipts for tax purposes
- written acknowledgement for each gift
- distribution of gifts as directed by donors
- investment of endowed gifts for optimal growth and sources of income
Investable funds are invested in a manner that produces for the Foundation the optimum return – defined as obtaining the highest return commensurate with an acceptable risk level.
Permanently restricted endowment funds are invested in a strategic allocation designed for long-term growth with moderate risk with an allowable variance of 10 percent.
All temporarily restricted funds are invested in 100 percent fixed-income securities for safety, income and low risk.
The Investment Committee may select professional managers or use pooled funds at its discretion.