The Community Foundation Earns Respect as a Fiduciary

People used to wonder just what the role of the Community Foundation of Western Nevada is, what we do, why we’re needed, and whether we would compete with other charities. After eighteen years, $180 million in gifts received, $90 million in grants, and $85 million under stewardship, people don’t wonder anymore. The Community Foundation is a respected fiduciary that you can trust. We have earned that trust by strictly adhering to donor wishes and gift restrictions. We promise, then demonstrate through our actions time after time. For a donor, it is important that a gift is used as they designate, and they know they can make additional, and larger gifts, with confidence that we will honor their wishes. We know that some of our donors have made gifts to charities other than the Community Foundation that were not used in adherence with donor restrictions. Growing trust relationships are the reason the Community Foundation has an increasing number of permanent endowments. Grants from these funds produce the result, or impact, that the donor intends. We apply the same standard when administering charitable trusts and split interest gifts such as charitable gift annuities. The income recipient always receives their payment on-time, the investment is well managed, and when the gift is fulfilled and moved to an endowment fund, the grant distributions exactly follow the donor’s restrictions. We are becoming better known in the community because many bequest arrangements that have been put in place over our short history are now beginning to be realized. Charities that did not know there were arrangements for an income stream from a generous donor celebrate as they learn about the late donor’s legacy of generosity. Most Community Foundation funds are invested long-term under the oversight of the Investment Committee whose members are experienced in finance, portfolio management, wealth management, financial consulting and accounting. No committee member is directly involved as the Advisor or the manager of those monies. We make no exceptions. Decisions are made with a nonbiased approach that enhances portfolio returns and mitigates potential risks. Our credo is to take stewardship, our fiduciary duty, seriously. Read our comprehensive Investment Policy. Over the years, we have seen endowments at organizations come and go, gifts not used as intended, upset donors and concerned professional advisors. The negative effect on current and future gifts from donors has been severe at times. The Community Foundation of Western Nevada offers a sure bet for donors who wish to ensure that their gift is used exactly as they intend, with no possibility of deviation. As we are in the Giving Season, this message bears repeating. If you would like more information about the Community Foundation and our work in the community, or if you would like to join us in our work, I would love to hear from you. Chris Askin, President, and CEO 775-762-1932 Connecting people who care with causes that matter