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Confirmed in Compliance with National Standards
Confirmed in Compliance with National Standards for U.S. Community Foundations.

Stewardship at the Community Foundation

Click here for the Community Foundation's most recent Stewardship Summary

 

Introduction

The Community Foundation of Northern Illinois is a community foundation.  It manages funds entrusted to it in order to support worthwhile endeavors in its four county service area (Boone, Ogle, Stephenson, and Winnebago) by promoting philanthropy, providing leadership to meet charitable needs and acting as a responsible steward of the Foundation's endowment and to the Foundation's donors.

The Community Foundation creates pooled investment strategies suitable to the purposes for which funds are entrusted to the Foundation.  The pools are:

           1.  Endowed

           2.  Non-Endowed

 

Responsibilities

A.  The Board of Trustees has overall fiduciary responsibility to the Foundation and must act prudently and for the best long-term interest of the Foundation.  The Board's specific duties include approving the investment policy statement, reviewing and approving the Foundation's spending policy, and appointing and empowering the Finance Committee.

B.  The Finance Committee of the Community Foundation has advisory responsibility to the Board of Trustees.  It is charged with recommending the general investment policy for the Foundation, and is responsible for guiding, monitoring and overseeing the investment program.

C.  The Investment Consultant is responsible for making recommendations to the Finance Committee with respect to the Foundation's investment policy, asset allocation, and investment managers.  The consultant is also responsible for investment reporting and compliance monitoring.

 

For a complete copy of the Community Foundation's Statement of Investment Objectives and Policies, please contact Jon Bates, VP of Finance, at 815-962-2110 ext. 13.

 

 

Finance Committee

Howard Sorenson, Treasurer
Lindstrom, Sorenson & Associates

John J. Morrissey, Assistant Treasurer
The Morrissey Family Businesses

Robert Hammes, CF Board of Trustees Chair
Retired - Textron Fastening Systems

Larry Bridgeland, CF Trustee
Mid-City Office Products

James Pirages, CF Trustee

Hinshaw and Culbertson

Stephen Carter, Advisor
Retired - Woodward Governor Co.

Dan Loescher, Advisor

Loescher and Associates, Ltd.

Phil Turner, Advisor
Retired - Woodward Governor Co.

Jonathan Whitlock, Advisor
Crosby Street Land Company

Gloria Lundin
President - Community Foundation

Jon Bates

VP Finance - Community Foundation