INVESTMENT PHILOSOPHY
The Community Foundation of Orange and Sullivan (CFOS) Board is entrusted with the investment and managements of its charitable funds and with carrying out out the wishes of its donors in the best interest of the Orange County community. The investment philosophy is summarized as follows:
- A. Preserve capital, considering the impact of inflation and market fluctuations.
- B. Strive for consistent annual Total Returns (realized and unrealized, dividends and interest).
- C. Achieve long-term Total Returns which meet or exceed inflation, plus spending for operations and grants.
- D. Earn the highest possible return given the risk tolerance established by the Community Foundation of Orange and Sullivan.
INVESTMENT STRATEGY
Investment management selection will be delegated to professional investment managers by the Finance and Investment Committee. Except for established guidelines and unusual circumstances, no restrictions will be placed on the selection of individual investments by the Foundation’s investment managers.
MANAGEMENT FEE
Each endowment fund will be assessed an asset management fee. The management fee is paid to the CFOS Operating Fund and is calculated based upon the previous month’s fund balance of the respective Endowment Fund and assessed quarterly against each endowment fund’s balance. The management fee constitutes the Foundation’s administrative charge for all services routinely provided by the Foundation based on the current fee schedule. In the event a donor requests services from the Foundation in addition to routine services, the Foundation reserves the right to assess additional reasonable management fees. In addition, the Fund will be charged, on an equitable basis, its share of any investment management fees incurred by the Foundation.
FINANCIAL REPORTING
The Foundation’s financial statements will be prepared in accordance with generally accepted accounting principles. The Foundation’s fiscal year end is June 30. The financial statements are audited annually by a reputable CPA firm. The financial statements are published annually in the Foundation’s annual report. A report of all distributions from component funds is included in the Foundation’s annual report. Additional reports of component funds may be made as directed by the Board.
All fund advisors and established beneficiaries receive semi-annual fund reports, unless requested more frequently. These reports summarize all activity in the fund for the six months ending December 31 and the twelve months ending June 30. A detailed list of all contributors to the fund will also be included in this mailing.
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Financial Statements 2006-2007
Donor Funds
Archived Financial Statements
Types of Funds
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| Form 990: |
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2007
(Not yet available) |
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2006 |
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2005 |
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2004 (Not
yet available) |
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2003 |
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2002 (Not
yet available) |
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