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.

 
 
2017
 
2018
 

Total Assets

$3,395,957
$3,007,130

Gifts & Bequests

$77,390
$69,965

Grants & Awards

$254,100
$265,573

Operating Expenses

$40,565
$51,286
     

Summary of Endowment Fund Accounts as of 12/31/18

   


ACCOUNT: Unrestricted: YE BALANCE: $3,015,265 DISTRIBUTION: Income for grant awards
ACCOUNT:Catherwood: YE BALANCE: $16,154 DISTRIBUTION: Income to United Way of Tompkins County
ACCOUNT:Sciencenter: YE BALANCE: $34,156 DISTRIBUTION: Income to Sciencenter
ACCOUNT:Tompkins Trust Company YE BALANCE: $223,543 DISTRIBUTION: Income to James J. Byrnes Awards for Excellence
ACCOUNT:Van Houtte: YE BALANCE: $31,343 DISTRIBUTION: Income to Raymond Van Houtte Education Awards

External Trust Income
Jewell: $10,286 to grant awards
Strong: $11,837 to grant awards
Smith: $46,337 to grant awards


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