Financial Information
As a public charity, the Community Foundation of Broward adheres to the highest standards to operate in the public view and the public interest. Our federal tax returns, Internal Revenue Service letters verifying our 501(c)(3) tax-exempt public charity status and our audited financial statements are available below.
Quarterly Investment Update
Investment Update - March 31, 2010
How do we diversify our portfolio and how do we manage such diversification? These are two commonly asked questions. First, let’s take an inside look at our growth asset allocation which includes domestic and international equities. Within this allocation we are further diversified in asset categories, managers and passive vs. actively managed accounts – allowing us to easily track our results, compare returns, make changes and plan for our future in an efficient and timely manner.
Yes, diversification is important but equally important is the process of managing a fully diversified portfolio. Constant monitoring of each investment manager by comparing individual returns to established benchmarks and returns of other similar managers is key to success. Diversification and monitoring combined with the knowledge of our independent Investment Committee, consultant and staff provides our fundholders with the security they deserve. We place a high value with your investment in our community. If you have any questions about your Fund Statement, please contact Anthony Timiraos, Chief Financial Officer at 954.761.9503 x107.
Investment Update - December 30, 2009
A new year and a new decade opens the door for analysts’ predictions ranging from financial doom and gloom to economic miracles. Unfortunately, we cannot predict the future but we can prepare.
Here’s what the experts say as we enter a new year. First, familiarize yourself again with your personal investment policy. It’s important to review and refresh your objective and strategy even if no change is needed. Second, market activity in 2009 may require you to rebalance your portfolio. Analyze your holdings and make the adjustments – don’t time the market. Third, do not overreact to sudden market changes. Follow your investment strategy and maintain sufficient liquidity for those difficult times or buying opportunities.
Our Investment Committee adheres to these recommendations. Sound investment management is an integral part of our financial success and key to our community’s future: For Good, For Ever. If you have any questions about this information, please contact Anthony Timiraos, Chief Financial Officer at 954.761.9503 x107.
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1 Year
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3 Years
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5 Years
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Our Portfolio
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20.0%
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-1.5%
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3.6%
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S&P 500
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26.5%
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-5.6%
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.1%
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60/40 Index
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18.4%
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-0.7%
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2.5%
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2009
This past year we witnessed a monumental financial crisis that included record losses in all global markets, years of real estate value increases lost in what seemed like moments, record oil prices and consumer confidence levels bottom out.
It was in this environment our Investment Committee had to operate. Comprised of Board members with investment acumen, the Committee met frequently to carefully monitor the changing marketplace. They utilized timely data analysis and global perspectives provided by our independent investment consultant on key economic indicators such as housing starts, credit conditions, industrial production, GDP growth and GDP per capita rates and global employment rates, among other indicators.
The Committee worked in tandem with the Foundation’s finance staff to ensure our cash position stayed strong to honor our mission of grantmaking. They vigorously discussed investment decisions in an unprecedented market and carefully weighed each decision.
We learned that having long term investment goals, patience and diversification can well position us to capitalize when the markets rebound. Whether it is our 25th anniversary or our 250th, because of strong investment strategies and internal controls, the Community Foundation of Broward will continue to serve our community…
For Good. For Ever.
Investment Strategies
- a broadly diversified portfolio to help protect our investments in the long term;
- a nationally acclaimed investment consultant who provides us with research, makes recommendations and monitors the individual performance of investment managers selected;
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- an independent investment committee comprised of highly experienced and successful individuals from our community who make the necessary investment decisions; and
- a well defined investment policy.
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