The cost of operating the Charlottesville Area Community Foundation is fully funded by administrative fees and annual proceeds of the administrative endowment (Vision Fund). This translates to an overhead rate in 2017 of 0.84 percent, well below the 1.1 percent median overhead rate nationally for community foundations of comparable size.
In 2017, the Community Foundation provided administrative service to 327 separate funds, including donor-advised funds, scholarships and endowments.
The value of Foundation assets under administration grew 16 percent, from $153,441,506 in 2016 to $178,197,504 in 2017.
Our Investment Approach
The Foundation serves the investment needs of a variety of constituencies, including donor-directed and other funds. We strive to provide outstanding, risk-adjusted returns recognizing an appropriate level of risk, diversification and the long-term nature of the funds under our care. Performance is measured over three- to five-year periods. We are willing to tolerate short-term volatility to achieve this longer-term goal. Asset allocation is flexible within our long-term investment horizon and as guided by policy.
The above is an excerpt from our Investment Belief Statement, which can be viewed in its entirety at cacfonline.org/invest-and-give.
After investment management fees as of December 31, 2017