Foundation Financial Information

Investment Objectives

The financial objectives for the North Georgia Community Foundation's investments are as follows:

  • To create a growing stream of income which will support the charitable purposes of the North Georgia Community Foundation, Inc., its donors and its agency endowments
  • To preserve the purchasing power of the Foundation's assets

These objectives dictate that the Foundation conserves and prudently manages those assets.  The perpetual nature of the Foundation requires a growing asset base and a growing annual return.

The primary investment objective for the total portfolio is to attain an average annual real total return (net of investment management fees) of at least 5% over the long-term (rolling five year periods).  It is recognized that the real return objective may be difficult to attain in every five year period but should be attainable over a series of five year periods.

Every effort is made to minimize portfolio management expense.  Current expense ratios average .68% compared to the industry average of 1.19%.

Investment Oversight

The Board of Directors of the Foundation is responsible for the oversight of the Foundation's investment assets and delegates regular review and management of the Foundation's investments to the Investment Committee of the Board, which meets at least quarterly and reports to the full Board at its next regularly scheduled meeting.

The Investment Committee is responsible for contracting with investment advisors and managers for investing the Foundation's assets and for measuring performance of the Foundation's investments.

The Foundation works with a number of financial managers who provide investment and estate planning advice to their clients.  These advisors follow a set of guidelines that are provided by the Foundation and that are recertified annually.  Significant donors may recommend a money manager provided they follow the general guidelines for managers outlined in the Foundation's Investment Policy.

Investment Strategy

The Foundation's assets are allocated by a schedule that is established by the Investment Committee and approved by the Foundation Board. 

For individually managed accounts, the Foundation prefers selected mutual funds managed by American Funds/Capital Group.  The majority of our investable assets are invested in the NGCF Equity Pool (65%) and the NGCF Fixed Income Pool (35%).  Individual Equity, Fixed Income and Balanced Funds may also be used provided they follow the approved fund mix.

No securities may be purchased on margin and no short selling is permitted.  The Foundation does not invest in Alternatives, Futures or Options.

Audits and IRS Returns

The Foundation is fully audited each year by an independent CPA firm. Audits are available for public inspection at our office and are summarized in our annual reports.  The Foundation's fiscal year is January 1 through December 31.   IRS Form 990 is on file at our office and available for public inspection, and IRS Form 990-T will be made publicly available for inspection for any years in which it is filed. If you would like additional information not listed here, please contact the Foundation at (770) 535-7880.

Investment Performance

The Investment Committee meets quarterly to review the performance of the Foundation's investment assets. At each Board of Director's meeting the Investment Committee chair updates the board on the performance of the portfolios as measured against comparable bench marks and community foundation peers. Each quarter the Investment Committee reports to the board any changes in asset allocation. The following reports reflect the performance of the NGCF Balance Pool:

Year to Date Performance

2016 Performance

Peer Group Comparison Report

Annual Reports

2016 Annual Report (or click for pdf view)
2015 Annual Report

2014 Annual Report
2013 Annual Report
2012 Annual Report

Audited Financial Statements

2016 Audit
2015 Audit
2014 Audit
2013 Audit

2012 Audit
2011 Audit

2010 Audit

IRS Form 990

2016 Form 990 T Return
2016 Form 990 Return
2015 Form 990 T Return
2014 Form 990 Return
2013 Form 990 Return
2013 Form 990 T Return
2012 Form 990 Return
2012 Form 990 T Return
2011 Form 990 Return

2010 Form 990 Return

Policies 

Investment Policy
Gift Acceptance Policy

 
 

 

Impacting Communites in North Georgia & Beyond

The Community Foundation serves our 15 county North Georgia region and beyond, encouraging philanthrophy, supporting nonprofits and giving donors a way to improve the quality of life in our region for this and future generations.

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