The McPherson County Community Foundation has committed to the following philosophy for investing funds.
The foundation is investing for the long-term.
The foundation does not invade the principal of its endowment.
The foundation pools its permanent endowment gifts for maximum effectiveness and efficiency.
The foundation accounts for each individual donor’s fund separately (as in a mutual fund).
The foundation exercises prudent investment practices and complies with state and federal requirements.
The foundation has a volunteer investment committee that provides broad guidance and reviews and modifies asset allocation.
The foundation may hire professional investment consultants and managers as deemed by the Board of Directors to execute the Foundation’s investment strategies to meet performance expectations using the Foundation’s guidelines and investment goals.
The McPherson County Community Foundation Board of Directors on August 10, 2011 adopted the above philosophy.
The McPherson County Community Foundation Endowment Fund spending rate will be set at a level that can reasonably be expected to allow for real growth of endowment principal over time given the asset allocation policy and long-term performance results. The Finance/Investment Committee will recommend a minimum spending rate subject to board approval regardless of current year fund performance, subject to minimum requirements and donors instruction.
Current Financial Statements and Reports
Updated quarterly, investment performance is calculated and recorded to ensure the asset classes are in accordance with MCCF’s asset allocations.
PUBLIC ACCOUNTABILITY Fund managers will provide quarterly reports to the McPherson County Community Foundation’s President/CEO and the Treasurer. Copies of the Foundation’s annual 990 will be made available for public view upon request. Names of investment managers, administrative fees and individuals responsible for the investments and oversight are available upon request.
The McPherson County Community Foundation is required by IRS regulations to submit Form 990 reflecting all contributions, grants, investments and operating expenses related to the organization. Copies of Form 990 and to the extent the organization may need to file Form 990-T will be available upon request. Copies of the independent, financial audit of the McPherson County Community Foundation will also be made available upon request.
Grant guidelines, gift acceptance policies, and investment policies have been established by the MCCF Board of Directors as guidance for basic operations. Copies of each policy or guidelines are also available upon request.