Our Financial Picture
The Community Foundation maintains well-diversified portfolios that are invested with the goal to preserve and enhance the real value of these assets over time. The Community Foundation engages Fund Evaluation Group (FEG), Mason Investment Advisory Services, and Commonfund, to manage the portfolios and advise the Investment Committee on asset allocation strategy and investment policy.
A Socially Responsible Investment Portfolio is available for donors who prefer that option.
Community Foundation Investment Policy
Spending policy, the amount calculated each year that is available to grant from a fund, is determined by averaging the previous 12 quarters of the fund's investment balance (ending June 30th of each year), then applying a percentage that is available for grantmaking. The Community Foundation's current spending rate is 4.5% of the fund's average value. Investment return in excess of the spending policy is retained in the fund to provide growth of principal.
As long-term investors, we anticipate that there will be periods of both significant market increase and decline. Accordingly, our spending policy may fluctuate with extreme market movements.
Building the Community Foundation's endowment is key to the success of future generations' ability to create a vibrant York County. Our goal is to preserve and enhance the purchasing power of the endowment by careful stewardship and through a prudent long-term investment strategy. An Endowment Fund is not only a permanent legacy for the donor, but the best way to provide a perpetual source of revenue for the continued betterment of York County.
The Community Foundation is directed by an Audit Committee, which assists the Board in fulfilling its oversight responsibilities relating to the Community Foundation's financial, operational and compliance information. They are responsible to oversee the financial reporting process and annual independent audit on behalf of the Board and report results of their activities to the Board.
The Community Foundation is audited by Reinsel Kuntz Lesher, LLP.