Our Financial Picture
Learn about our financial picture.
The Community Foundation maintains well-diversified portfolios that are invested with the goal to preserve and enhance the real value of these assets over time. The Community Foundation engages Mason Investment Advisory Services and Commonfund to manage the portfolios and advise the Investment Committee on asset allocation strategy and investment policy. An Environmental, Social, and Governance Portfolio is available for donors who prefer that option.
Click here to read Commonfund’s Mid-Year 2020 Market and Investment Review.
Returns are net of investment fees.
At YCCF, our investment strategy seeks to preserve and enhance the purchasing power of gifts through
careful stewardship over the long-term. YCCF’s diversified investment portfolio is implemented by expert fund
advisors with access to global investment opportunities and deep analysis that may not be available to individual
The YCCF Combined Portfolio ended a turbulent 2020 with a positive net investment return of 9.7 percent, adding approximately $13.4 million to YCCF’s endowment so that can be reinvested into the community. The portfolio trailed its Policy Benchmark by 3.3 percent over this same period as several equity managers underperformed their respective benchmarks. The market environment in 2020 was particularly challenging as portfolio diversification was not rewarded. Market returns were concentrated amongst a small subset of large technology companies – FAANG+M (Facebook, Apple, Amazon, Netflix, Google and Microsoft). YCCF and Commonfund continue to have confidence in the managers due to their proven track record to deliver long-term attractive risk-adjusted returns over market cycles. We also expect that manager diversification will be rewarded as markets become less volatile.
Spending policy, the amount calculated each year that is available to grant from a fund, is determined by averaging the previous 12 quarters of the fund’s investment balance (ending June 30th of each year), then applying a percentage that is available for grantmaking. The Community Foundation’s current spending rate is 4.5% of the fund’s average value. Investment return in excess of the spending policy is retained in the fund to provide growth of principal.
As long-term investors, we anticipate that there will be periods of both significant market increase and decline. Accordingly, our spending policy may fluctuate with extreme market movements.
YCCF also offers fundholders an Environmental, Social, and Governance Portfolio option. The portfolio is designed to offer investors the opportunity to invest in a socially responsible investment vehicle targeting companies with a social and environmental conscious. Companies are selected that demonstrate management’s commitment to positive impact on the environment as well as promoting positive social change.
Building the Community Foundation’s endowment is key to the success of future generations’ ability to create a vibrant York County. Our goal is to preserve and enhance the purchasing power of the endowment by careful stewardship and through a prudent long-term investment strategy. An Endowment Fund is not only a permanent legacy for the donor, but the best way to provide a perpetual source of revenue for the continued betterment of York County.
The Community Foundation is directed by an Audit Committee, which assists the Board in fulfilling its oversight responsibilities relating to the Community Foundation’s financial, operational and compliance information. They are responsible to oversee the financial reporting process and annual independent audit on behalf of the Board and report results of their activities to the Board.
The Community Foundation is audited by RKL, LLP.
- Latest Audited Financial Statement
- 2019 Audited Financial Statement
- 2018 Audited Financial Statement
- 2019 990 YCCF Public Disclosure
- 2018 990 YCCF Public Disclosure
- 2017 990 YCCF Public Disclosure
Security and confidentiality of our donor information is a top priority at YCCF. We employ Treysta Technology Management, a seasoned technology firm, to implement and maintain best-practice security measures across all our platforms. In addition, our full staff engages in professional training throughout the year on mitigating potential security risks. Our donor database is stored on a secure network server and does not use cloud technology.