Who Manages The Funds?

Who manages the Funds?
The Board of Directors of the PineBelt Foundation working in conjunction with its Investment Committee oversees the day to day management of the PineBelt Foundation assets. After much research and consideration Vanguard Asset Management has been chosen to provide cost-effective and efficient management of PineBelt Foundation and its affiliated funds’ assets. These managers are reviewed quarterly to ensure high performance. This allows affiliated funds to fully focus on their mission of cultivating charitable giving for community improvement.

Who owns the Fund?
The PineBelt Foundation owns the fund on your behalf. The PineBelt Foundation holds, manages, invests, and reinvests the assets of endowed funds. Your organization may request that distributions be made from the fund and the PineBelt Foundation will give good faith consideration to those requests.

Advantages of Endowments/Funds

  1. Consolidated investment management provides a better return with lower administrative costs through economies of scale. You increase your income with fewer hassles.
  2. Our trusted, experienced management team inspires confidence with potential donors. You save time and money by not hiring an endowment specialist.
  3. Donors receive assurance that their money will be managed in perpetuity even if your agency ceases to exist. You may gain new donors NOW.
  4. Access to donors who structure all their gifting through one source at the PineBelt  Foundation and who can name your agency as a partial beneficiary of their philanthropy. You may get new prospects.
  5. Access to pro bono professional advisors, attorneys and accountants who have special expertise on recommendations for structuring charitable gifts for prospective donors as well as for the agency staff and board. You don’t have to find or hire these experts.
  6. Access to the legal staff of the Council on Foundations, of which the PineBelt Foundation is a member, for assistance in structuring complex gifts such as property or other lifetime gifts.  These gifts require special consideration and current updates on new tax implications for charitable gifts.  You don’t have to hire legal assistance.
  7. Exemption for the agency from filing a tax return or reporting on this fund since the fund’s financial transactions are consolidated with those of other funds in the PineBelt Foundation’s Form 990.
  8. Fiduciary oversight of the management and reporting of the endowment provided by the Board of Directors in conjunction with its Investment Committee. (The Board’s conflict of interest policy assures that investment decisions are made which are in the best interests of the agency.)
  9. Speed and convenience for the donors. This can be especially important for year-end contributions and situations when stock or real estate is in the process of being sold and time is of the essence.
  10. Regular reporting to your agency and staff of fund performance. You don’t have to write reports.

 

For more information please contact your Professional Advisor or Theresa Erickson, Executive Director at contact@PineBeltFoundation.org or call 601.583.6180