What is Endowment?
When you create a charitable fund through the Watertown Area Community Foundation, you have the opportunity to benefit the community in perpetuity with a permanent endowment. Your gift is invested and the earnings from your fund are used annually to address community needs based upon your wishes.
It is the intention of the Watertown Area Community Foundation Board to employ policies and guidelines with regard to the investment of the principal endowment which will provide a balance of capital appreciation and generate a reasonable net income to fund activities supported by the Foundation.
All decisions regarding placement of the funds for investment shall be made by the Foundation Board, subject to any restrictions imposed by donors or grantors.
The assets of the Foundation shall be invested by the trustees with care, skill and diligence under the circumstances then prevailing that a prudent investor acting in a like capacity and familiar with such matters would use in investment of assets in institutions of like character and kind. The trustee banks shall also make investment decisions within the parameters of the Foundation’s Declaration of Trust and the investment policy guidelines established by the Board.
The Foundation Board shall monitor and review annually the Investment Policy of the Foundation.
A copy of the Watertown Area Community Foundation fee schedule is available upon request.