|
|
|||||||||||||||||||||||
 |
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
|
|
|||||||||||||||||||||||
|
||||||||||||||||||||||||
