As chief financial officer of the Community Foundation, I am honored to provide you with some financial and operational updates from this past year:

  • Amid a challenging financial climate, our board’s finance committee worked diligently with our dedicated investment consultant to assess our portfolio performance, strategic asset mix, inflation, and spending policy. All the while, we are focusing on preserving and growing the value of the assets entrusted to us to ensure the long-term sustainability of our impact.
  • Our Sustainable Responsible Impact investment pool has grown steadily over the past 18 months to $14 million as of March 31, 2023. This is thanks to the generosity of our donors and the diligent stewardship of our investments.
  • Our allocation to diverse investment managers, which was already well above national industry averages, increased this past fiscal year from 15.4% to 17.7%, demonstrating our commitment to equity in the asset management industry. Furthermore, we are proud that over 10% of our operating expenses supported minority and women-owned businesses.

As we look ahead, our new strategic plan will take us through our centennial celebration in 2027. The Finance and Administration pillar of this plan is entitled “Stewarding Charitable Resources for Good” and focuses on sustaining our organizational strength, cultivating impact investments, and infusing our commitment to equity through our operations, investments, staff and board governance. Prudent management and investment of our resources will allow us to grow and deepen our existing work while creating new opportunities to impact lives here.

I extend my deepest gratitude for your continued support. Your generosity and trust enable us to be a bold, courageous and enduring partner in philanthropy. Please reach out if you have any questions about our strategic plan, investment management or any of the financial information contained in our annual report.

Kimberly P. Sadowski, CPA
Vice President & Chief Financial Officer


     

   

    

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