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Community Foundation Counts on Finance and Investment Expertise

In our Accounting Department, everybody counts. (Pun intended.)  The Community Foundation runs a highly professional accounting operation.  One of the great compliments we receive from time to time is that we operate as a business. The mission is paramount, but at the Community Foundation, as at other types of financial institutions, accounting is the language of our business. I commend our financial staff’s ability to meet tight timelines on transactions from gift receipting to processing grant checks, scholarships, monthly reconciliations, and reporting.  Management depends on accurate, timely information and our Board, led in this area by the Finance Committee, uses this information for budgeting, oversight, and planning.  The Board Audit Committee includes accountants who are not members of the Community Foundation Board nor do they have funds at the Community Foundation. This practice assures the highest level of review and reporting. Speaking of the audit, this year our staff and auditor team is working toward completing the audit in record time.  The Community Foundation of Western Nevada audit is mostly an annual financial check-up. It helps keep us on the top of our game, and we do well.  The community and fundholders care about our financial practices, so in the interest of transparency, we post our audit results and tax return on our website.  You can check it out. An expert committee of investment professionals, none of whom manage our charitable assets, comprise the Board Investment Committee.  Along with staff, they work with professionals who manage component accounts holding Community Foundation assets.  We check peer comparisons to be sure our investment performance measures up to that of other community foundations and private foundations. I believe that our greatest asset is the trust of the community, donors, and fundholders who establish charitable funds at the Community Foundation, now, or through their estate plans.  We know that as a business that stewards charitable giving and legacies, The Community Foundation must set the bar high for effective operation and reporting.  Please join me in applauding the essential work of our CFO Melissa Tschanz, Accountant Gay Brown, and the volunteers on our Finance, Investment, and Audit Committees.  Chris Askin, President, and CEO  775-333-5499 Connecting people who care with causes that matter