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There are now more than 500 separate funds managed by the Battle Creek Community Foundation. As stewards of these funds, the Battle Creek Community Foundation converts contributions into community betterment. The Community Foundation uses a sound investment strategy designed to maintain the principal balance — those gifts and contributions received from the public — while maximizing the return on these investments for grant-making and future growth purposes. In this manner, endowment gifts become expressions of caring that keep on giving forever.
All of the endowment funds of the Battle Creek Community Foundation are pooled for investment purposes. They are carefully, expertly, and responsibly managed in a balanced portfolio.
In July 2001, the Battle Creek Community Foundation moved its investment management services to the Frank Russell Company. While some investments are maintained with American Funds, the majority of the Community Foundation investment portfolio is invested with Frank Russell Company. Russell’s investment programs provide a manager-of-mangers approach based on a research-driven evaluation of outside money managers. Russell builds portfolios of complementary money managers similar to the way those managers might assemble their own diversified portfolio of securities, which allow investors to focus on the benefits of the long-term diversification, active management and goal-oriented planning.
The Community Foundation maintains an ongoing review process of the investment portfolio that engages over 35 paid professionals, volunteers and laypersons. Independent auditors evaluate the financial position of the entire endowment on an annual basis. In addition, an audit committee provides guidance and technical review of the independent audit process. This audit committee reports directly to the Battle Creek Community Foundation Board of Trustees.
A consistent and complete review of the management and allocation of the Community Foundation resources is one of the highest priorities of operating the Battle Creek Community Foundation as a public trust on behalf of the donors and citizens of this community – a responsibility that is taken with the greatest sense of seriousness and professionalism.
The names of investment managers, fees charged (including investment and administrative fees), governing body or appointees responsible for investment oversight and investment are available upon request. |
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