Safeguarding the Community’s Endowment

The Community Foundation of Northern Illinois is focused on attracting, growing, and preserving an endowment for the people of Northern Illinois. The Foundation safeguards the principal of the funds entrusted to it by prudently investing for both growth and preservation.  86% of the funds at the Community Foundation are permanently endowed and will provide resources for this region forever.

The Community Foundation creates pooled investment strategies suitable to the purposes for which funds are entrusted to the Foundation. The pools are:

1.  Endowed (86%)

2.  Non-Endowed (14%)

 

View the Community Foundation’s Investment Performance »

 

Stewardship Responsibilities

A.  The Board of Trustees has overall fiduciary responsibility to the Foundation and must act prudently and for the best long-term interest of the Foundation. The Board’s specific duties include approving the investment policy statement, reviewing and approving the Foundation’s spending policy, and appointing and empowering the Finance Committee.

B.  The Finance Committee of the Community Foundation has advisory responsibility to the Board of Trustees. It is charged with recommending the general investment policy for the Foundation, and is responsible for guiding, monitoring and overseeing the investment program.

C.  The Investment Consultant is responsible for making recommendations to the Finance Committee with respect to the Foundation’s investment policy, asset allocation, and investment managers. The consultant is also responsible for investment reporting and compliance monitoring.

For information on the Community Foundation’s investment objectives and policies, the names of the Foundation’s current investment consultant and investment managers, audited financial statements, and IRS form 990 and 990T, please contact Jon Bates, VP of Finance, at 815-962-2110 ext. 13.

 

Finance Committee

Howard Sorenson, Treasurer
Lindstrom, Sorenson & Associates

John J. Morrissey, Assistant Treasurer
The Morrissey Family Businesses

Robert Hammes, CF Board of Trustees Chair
Retired – Textron Fastening Systems

Elise Cadigan, CF Trustee
The Glenwood Center

Stephen Carter, Advisor
Retired – Woodward Governor Co.

Pat Derry, CF Trustee
Rockford Process Control, Inc.

Dan Loescher, Advisor
Loescher and Associates, Ltd.

Phil Turner, Advisor
Retired – Woodward Governor Co.

Jonathan Whitlock, Advisor
Crosby Street Land Company

Gloria Lundin
President – Community Foundation

Jon Bates
VP Finance – Community Foundation