Statement of Purpose
The Community Foundation of the Northern Alleghenies is a vehicle that will enable citizens of Elk and McKean County and surrounding areas to achieve their philanthropic expectations and in so doing strengthen the quality of life in the region. The Community Foundation of the Northern Alleghenies is prepared to assist those organizations and institutions designed to enhance the social welfare of the area. In carrying out this mission the Foundation provides matching money grants, seed money, and partnership grants to a host of educational, health care, cultural, youth development, social welfare, and community development needs.
The Foundation is a public supported charitable organization under Section 501 (c) (3) of the Internal Revenue Code. Its purpose is to be a vehicle to receive and accept gifts to be administered for charitable purposes primarily in and for the Elk and McKean County region of Pennsylvania.
The purpose of the Statement of Investment Policy and Guidelines is to assist the Trustee of the Community Foundation of Northern Alleghenies (the Trustees) in more effectively supervising and monitoring the investment activities of the Foundation by:
- Stating in writing attitudes, expectations, and goals for the investment of Foundation assets;
- Detailing the spending policy to meet the short-term and long-term objectives of the Foundation;
- Providing a basis for reviewing all investment management organizations;
- Encouraging effective communication between the Trustees and their investment managers; and
- Setting objectives against which the performance results can be measured.
[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_single_image image=”3068″ img_size=”full”][vc_btn title=”Download PDF” style=”custom” custom_background=”#a53e58″ custom_text=”#ffffff” shape=”square” size=”lg” align=”center” link=”url:http%3A%2F%2Felkcountyfoundation.northernalleghenies.org%2Fwp-content%2Fuploads%2F2018%2F07%2FInvestment-Policy-1.jpg|||”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The Trustees will review this Statement of Investment Policy and Guidelines at least annually, and they will approve all material changes to it.
The Foundation assets are to be managed in accordance with the policy guidelines expressed herein, or expressed by separate written instructions when the Investment Committee deems deviation prudent and desirable.[/vc_column_text][/vc_column][/vc_row]