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.

 
 
2010
  
2009
  

Total Assets
$2,298,589
$2,244,757

Gifts & Bequests
$56,369
$53,188

Grants & Awards
$164,231
$161,850

Operating Expenses
$39,642
$39,475
     

Summary of Endowment Fund Accounts

    


ACCOUNT: Unrestricted: YE BALANCE: $2,054,389 DISTRIBUTION: Income for grant awards
ACCOUNT:Catherwood: YE BALANCE: $16,218 DISTRIBUTION: Income to United Way of Tompkins County
ACCOUNT:Sciencenter: YE BALANCE: $34,291 DISTRIBUTION: Income to Sciencenter
ACCOUNT:Tompkins Trust Company YE BALANCE: $121,608 DISTRIBUTION: Income to TTC Awards for Excellence
ACCOUNT:Van Houtte: YE BALANCE: $20,889 DISTRIBUTION: Income to Raymond Van Houtte Education Awards

External Trust Income
Jewell: $4,357 to grant awards
Strong: $14,382 to grant awards
Smith: $26,059 to grant awards

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