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.

 
 
2007
  
2006
  

Total Assets
$3,011,346
$3,043,466

Gifts & Bequests
$55,984
$50,052

Grants & Awards
$202,018
$192,796

Operating Expenses
$29,744
$20,263
     

Summary of Endowment Fund Accounts

    


ACCOUNT: Unrestricted: YE BALANCE: $2,740,065 DISTRIBUTION: Income for grant awards
ACCOUNT:Catherwood: YE BALANCE: $22,795 DISTRIBUTION: Income to United Way of Tompkins County
ACCOUNT:Sciencenter: YE BALANCE: $48,198 DISTRIBUTION: Income to Sciencenter
ACCOUNT:Tompkins Trust Company YE BALANCE: $170,927 DISTRIBUTION: Income to TTC Awards for Excellence
ACCOUNT:Van Houtte: YE BALANCE: $29,361 DISTRIBUTION: Income to Raymond Van Houtte Education Awards

External Trust Income
Jewell: $6,261 to grant awards
Strong: $11,973 to grant awards
Smith: $32,019 to grant awards

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