Financial Stewardship
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| Total Assets/Gifts/Grants for the Past Five Fiscal Years |
Generous giving and prudent investing have grown your community foundation to $627.5 million in total assets, and provided approximately $640 million in total grants since our beginning. We understand and take seriously our responsibility to carefully manage and invest these assets to meet your philanthropic goals now and permanently into the future.
The Community Foundation for Northeast Florida is the steward for all Donor Funds. Our Board of Trustees has the ultimate fiduciary responsibility, and entrusts the Investment Committee with ensuring that all assets invested are consistent with the policies and objectives of the Foundation. This Committee works closely with The Community Foundation’s investment advisors and staff to recommend policy, develop and implement strategy, review and evaluate investment results, and continually monitor The Community Foundation’s investment program.
Our Investment Committee
George Egan, Chair
President, CEO, Reinhold Corporation
David Gonino
Chief Investment Officer, Alfred I. duPont Testamentary Trust
Robert Hill, Chair
Former Vice Chairman of the Board, Acosta Sales & Marketing
Susan Remmer Ryzewic
President, CEO, EHR Investments, Inc.
Richard L. Sisisky
President, The Shircliff & Sisisky Company
Dori Walton, CFA
Former Investment Banker, ING
R. Halsey Wise
Chairman, CEO, AfterNext HealthTech
The Honorable Brian J. Davis, Board Chair Ex-Officio
U.S. District Court Judge
Our Investment Philosophy
We invest our assets so that grants can be made to address current community needs, and to preserve and enhance assets available for future generation grantmaking. The Foundation believes the likelihood of achieving these goals is enhanced when we:
- Establish a strategic asset allocation that is expected to achieve an investment pool’s investment objective while maximizing return for the level of risk assumed;
- Avoid market-timing;
- Appropriately diversify by asset class and strategy as this increases the likelihood of achieving return objectives under different economic and market conditions;
- Establish highly disciplined rebalancing strategies between asset classes, with marginal tactical adjustments based on severe market conditions; and
- Apply this approach uniquely based on the nature and level of each investment pool’s investment objective, acceptable levels of risk, and projected liquidity needs.
Investment Options
Depending on their grantmaking time horizon and asset size, Donors may select up to three options for investment of their fund.
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Appropriate for all non-endowed funds, particularly funds with a 1 year or less investment time horizon
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Appropriate for non-endowed funds of $100,000+, with a 3 - 7 years investment time horizon
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Appropriate for all endowed funds, and non-endowed funds of $100,000+, with a 7+ years investment time horizon
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Appropriate for all endowed funds, and non-endowed funds of $100,000+, with a 7+ years investment time horizon
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Net Investment Returns
The Foundation’s Long-Term Pool has the longest investment history, established May 1995. As of December 31, 2022, annualized returns since inception are 6.9%. The Foundation’s disciplined process and focus on its long-term return objective, regardless of market fluctuations, has supported a 5% annual distribution on its endowed funds since inception.
| December 31, 2022 |
Since May 1995 |
10 Years |
| TCF Long-Term Pool: $193.6 Million |
6.9% |
6.1% |
| Long-Term Return Objective: CPI (Inflation) + 5% |
8.3% |
7.8% |