Financials
Although funds of $250,000 or more can be managed on a segregated basis to accommodate our donors’ range of preferences, our commingled investments continue to be governed prudently using roughly a 35-40% cash or fixed, 60-65% equity asset allocation. This consistent and conservative approach is fundamental to The Community Foundation of Middle Tennessee’s appreciation for its unique role as a steward of our “community’s charitable savings account.”
We understand fully that our commitment is both to the current generation and to those that will follow.
Summary of Operations
| Support and Revenue | |
| Contributions and Income | $104,648,992 |
| Net Realized/Unrealized Gain on Investment | $139,427,674 |
| TOTAL | $34,778,682 |
Expenses |
|
| In-Kind Services | $17,034 |
| Investment Management and Custodial Fees | $253,842 |
| Management and General | $2,683,001 |
| Depreciation | $95,708 |
| TOTAL | $3,049,585 |
| Grants | $79,825,120 |
| Assets | $316,286,340 |
| Planned Gifts* | $72,040,000 |
*These are future gifts of which The Foundation has been informed. They are not current assets of The Foundation. |
|
Audit
The financial statements of The Foundation for the year ended 12/31/08 have been audited by Kraft Bros., CPAs, PLLC. Copies of their unqualified opinion and the complete financial report area available at no charge by calling (615) 321-4939 or toll free (888) 540-5200. The condensed financial information presented here was prepared by The Foundation and does not reflect The Financial Accounting Standards Board issued Statement Number 136, transfers of assets to a not-for-profit organization or charitable trust that raises or holds contributions for the benefit of others (FAS 136).
Figures do not include expenses incurred as a result of special services specifically requested by donors. Mutual Fund expenses are not included in the Investment Management Custodial Fee.
