What The Foundation Does
The Foundation invests the principal of each Fund through its trustee banks and investment managers for the continued production of income. This income is distributed in the form of grants and scholarships to a wide variety of organizations and individuals. Under certain circumstances a portion of the invested principal is also allocated for distribution according to the provisions of the document that created each Fund. The purposes to which the Foundation makes these grants include arts & culture, community economic development, education, health, basic needs, land use, and other charitable areas of interest.
How it Works
Responsibility for policy and direction is vested in a volunteer Board of Trustees, some of whom are appointed by civic and public organizations and some of whom are elected by the Board of Trustees. Six Trustee Banks, twelve investment managers and an investment consulting company administer the Funds for the Foundation and carry out the duties assigned to them by the Board of Trustees. Details about the trustee banks, investment managers, investment consulting company, fees charged, and committee members responsible for investment and oversight are available upon request.