Financials & Reports
The Community Foundation is dedicated to fiscal responsibility, transparency and stewardship. As a result of this dedication, the Foundation continues to grow and expand its partnerships and outreach efforts with nonprofits and donors throughout the Brazos Valley.
We are stewards of donor intentions who entrust their charitable endowments with the Foundation as safeguards of these “forever funds.” All funds are efficiently managed to ensure a long-term growth.
The Community Foundation holds a four-star ranking from Charity Navigator and a Gold Ranking Designation by Candid [formerly GuideStar]
Financial Statements
The Community Foundation is a public charity and operates to serve the public interests of the community. In the spirit of transparency, its federal tax returns and audited financial statements are available to the public. The Foundation’s five most recent audits and form 990’s are provided for the public’s information and review.
| Audit Report | Form 990 |
| 2022 Audit Report | 2022 Form 990 |
| 2021 Audit Report | 2021 Form 990 |
| 2020 Audit Report | 2020 Form 990 |
| 2019 Audit Report | 2019 Form 990 |
| 2018 Audit Report | 2018 Form 990 |
Investment Strategy
The Foundation’s investment objective is to generate income to respond to current charitable needs and to support the long-term growth of the Foundation’s endowment. As a respected fiscal steward and manager of charitable endowments, bequests, trusts, and other complex financial instruments, the Foundation takes a thoughtful approach to asset diversification through its investment strategy. The Foundation’s overall objective is to preserve and protect fund principal while achieving a long-term, average return sufficient to cover the Fund Distribution Policy plus an administrative fee and any potential inflation over a complete market and economic cycle. Achieving this objective requires the assumption of a long-term investment horizon and asset diversification. Donors may also establish a customized investment management through a partnership with their advisor and the Foundation.
Philosophy
The Community Foundation stewards an investment portfolio and manages these funds in a manner to support an annual fund distribution amount ranging from three to four percent (4%) of a fund’s average balance over the past twenty (20) preceding quarters (or less in the case of newer funds).
Investment and Fund Distribution Policy Statement, May 2022
Investment Committee Members
Jorge Bermudez, Chair, Investment Committee and Trustee Board Member
Jack Buckley, Trustee Board Member
Casey Oldham, Trustee Board Member
Natalie Briaud Pine, Trustee Board Member
Ben Novosad, Community Volunteer
Nathan Harness, Community Volunteer
Weldon Russell, Trustees Board Member
William Jene Tebeaux, Community Volunteer
Patricia Gerling [Ex Oficio] – President/CEO, Community Foundation of the Brazos Valley
Governance
Since 2003, the Community Foundation has served as a public charitable institution dedicated to advancing philanthropy within the Brazos Valley. In the spirit of transparency and policy of openness, our governance and policy documents – including our Internal Revenue Service Letter of Determination as a 501(c)(3) public charity, articles of incorporation, and bylaws – are available to the public.
Legal Name: Community Foundation of the Brazos Valley
Tax-Exempt # 32-0073943
IRS 501(c)(3) Letter of Determination
