Through its history, the Legacy Foundation board of directors has managed the foundation endowment expenses to minimize the impact upon investment growth. The expense ratio has consistently been less than 1% of assets. It is responsible for the management of the assets. The board members direct the overall investment policy, monitor performance and safeguard foundation funds. An established independent auditor audits foundation accounts, annually.

 
 
2015
 
2016
 

Total Assets

$2,846,444
$3,218,378

Gifts & Bequests

$122,342
$425,451

Grants & Awards

$191,887
$250,326

Operating Expenses

$41,215
$41,994
     

Summary of Endowment Fund Accounts

   


ACCOUNT: Unrestricted: YE BALANCE: $2,841,667 DISTRIBUTION: Income for grant awards
ACCOUNT:Catherwood: YE BALANCE: $17,267 DISTRIBUTION: Income to United Way of Tompkins County
ACCOUNT:Sciencenter: YE BALANCE: $36,509 DISTRIBUTION: Income to Sciencenter
ACCOUNT:Tompkins Trust Company YE BALANCE: $238,944 DISTRIBUTION: Income to TTC Awards for Excellence
ACCOUNT:Van Houtte: YE BALANCE: $33,503 DISTRIBUTION: Income to Raymond Van Houtte Education Awards

External Trust Income
Jewell: $5,387 to grant awards
Strong: $15,645 to grant awards
Smith: $47,550 to grant awards


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