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OUR FINANCIAL PICTURE

Investment Management
Effective stewardship of philanthropic assets is key to York County Community Foundation's ability to fulfill its mission of building permanent charitable funds to strengthen the York County Community. Our investment goal: to preserve and enhance the real value of these assets over time.

The Community Foundation maintains well-diversified portfolios which are invested for total return. Under the guidance of the Investment Committee, and subject to a Board approved Investment Policy, our funds are prudently invested in diversified portfolios that produce funds for grantmaking, while providing for asset growth and security of principal.

The Foundation engages Fund Evaluation Group (FEG) as independent consultants. FEG advises the Investment Committee on investment policy and asset allocation for the Foundation. FEG also advises on manager selection and performance review of our Core Portfolio, our primary investment pool. M&T Investment Group is custodian for the Core Portfolio. The Foundation also maintains an investment pool managed by Wachovia Wealth Management, which was created in 2005. A pool managed by BNY Mellon Wealth Management was added in December of 2007.

Asset allocation pie chart

Core Portfolio managers

Core Portfolio latest results

Community Foundation Investment Policy

Spending Policy
Spending policy is a formula to determine the annual charitable payout from a fund that is based on a percentage of the average fair market value of the fund's investments. The Foundation's current spending is 4.5% of the fund's value, and is designed to allow grants to be made from the fund during the donor's lifetime as well as in perpetuity. Investment return in excess of the spending policy is retained in the fund to provide growth of principal. Special spending policy rules are in place for our Heritage Funds(annual selection) and for donor advised funds (access to entire fund for balance over $25,000).

Spending Policy Fact Sheet


Fees and Fund Minimums
Support fees and fund minimums are determined by the type of fund. To establish a new named fund at the Community Foundation, the following support fees and minimums apply:

Type of Fund	Minimum to Establish Fund	Support Fee
Donor Advised Funds	$25,000	1.25%
Field of Interest Funds	$25,000	1.25%
Designated Funds	$25,000	1.25%
Scholarship Funds	$25,000	1.25%
Unrestricted Funds	$25,000	1.25%
Heritage Funds	$25,000	0.50%
Acorn Funds	$1,000	*
*Fees are not assessed on Acorn Funds and grant recommendations are not made until the fund reaches the $10,000 level.

Lifetime gifts to establish a life income plan/future fund:

Type of Gift	Minimum to Establish Fund	Support Fee
Community Charitable Gift Annuity	$50,000	1.25%
Community Charitable Gift Annuity into established fund	$10,000	1.25%
Heritage Annuity	$10,000	1.25%
Heritage Annuity with 50-50 option	$20,000	1.25%
Charitable Remainder Trust	$100,000	negotiable
Charitable Lead Trust	$100,000	negotiable

The Foundation accepts gifts of any amount to existing named funds or to our Fund for York County, which is a broad grantmaking fund designed to focus on enhancing the quality of life in our community. From time to time, the Foundation makes exception to the above-named minimums if the new fund is part of a larger initiative or part of a larger fund family.


Audit
The Community Foundation is directed by an Audit Committee, which assists the Board in fulfilling its oversight responsibilities relating to the 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 Philip R. Friedman & Associates, LLP.

Latest audited financial statements