The Foundation's Finance & Investment Committee professionally manages and invests private gifts for long-term growth.
The committee meets at least once quarterly to review the Foundation portfolio in light of current economic conditions.
Prudent procedures that help the Foundation maintain a high standard of trust, effectiveness and accountability include
- accurate receipts for tax purposes
- written acknowledgement for each gift
- distribution of gifts as directed by donors
- investment of endowed gifts for optimal growth and enduring sources of income for designated programs.
An independent auditing firm reviews the PCC Foundation's financial management annually, and for the past several years has found no deficiencies in accounting methods or fund management.
Investable funds are invested in a manner that produces for the Foundation the optimum return – defined as obtaining the highest return commensurate with an acceptable risk level.
Permanently restricted endowment funds are invested in a strategic allocation designed for long-term growth with moderate risk with an allowable variance of 10 percent.
All short-term temporarily restricted funds are invested in 100 percent fixed-income securities for safety, income and low risk.
The Investment Committee may select professional managers or use pooled funds at its discretion.