Finance & Investment
Serving Middlesex County Communities
Community Foundation of Middlesex County recognizes its fiduciary and stewardship responsibilities and adheres to principles and standards endorsed by the Council on Foundations and followed by other community foundations. The Foundation’s Board of Directors approves all financial policies and activities, and committees of volunteers monitor them monthly and quarterly. The financial statements, accounting policies and controls are audited annually by an independent auditing firm. The Foundation complies with all state and federal reporting requirements. These and other reports are available for viewing at the Foundation offices.

Endowment Management

Community Foundation of Middlesex County endowment is a perpetual fund whose purpose is to provide sufficient funding for current grants, while building the endowment to insure it will meet future community needs. Long term growth is accomplished through new gifts and careful investment stewardship of endowed funds. A committee of volunteers with financial and investment expertise manage the endowed funds under a board-approved investment and distribution policy and report quarterly to the Board of Directors

Administration – Staffing and Budget

Community Foundation of Middlesex County has a small experienced staff and operates with modest administrative budgets. All financial matters are monitored by committees of volunteers with financial knowledge and experience. Budgets are established and reviewed monthly.

Financial Highlights (unaudited)

Fiscal year ending December 31, 2015

Assets

$  10,101,381 Endowed Funds
$  1,970,029 Unendowed and Administrative
$  111,857 Gift Annuities and Trusts
$  18,382,800 Known Planned Gifts

Contributions Received

$  1,300,694 Gifts and Pledges

Grants Awarded

$   721,162  See Below for breakdown of Focus Areas

Grants by Focus Area

Competitive
24%
$170,826
 Animal/Human Welfare & Services 2%
 Arts 2%
At-Risk Boys  2%
Education
4%
Environment
2%
Heritage Enhancement
1%
Human Services
9%
Women & Girls
2%
Designated
29%
$207,454
Donor Advised
38%
$273,313
Field of Interest
2%
$12,150
Unrestricted General
2%
15,450
Agency
6%
$41,969
TOTAL
100%
$721,162

Community Foundation of Middlesex County will make available for public inspection, upon request, the last three years of its Audited Financial Statements, IRS Form 990, IRS Form 990-T (when applicable), and the IRS letter of determination granting nonprofit status.

Requests may be made in person, by U.S. postal mail or by e-mail. Documents are provided in hard copy only. The requestor will be charged a reasonable fee for the cost of copying and postage.

guidestar

GuideStar.org provides additional information including access to IRS Form 990.

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