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.

 
 
2008
  
2007
  

Total Assets
$2,174,803
$3,011,346

Gifts & Bequests
$67,378
$55,984

Grants & Awards
$201,284
$202,018

Operating Expenses
$34,974
$29,744
     

Summary of Endowment Fund Accounts

    


ACCOUNT: Unrestricted: YE BALANCE: $1,983,836 DISTRIBUTION: Income for grant awards
ACCOUNT:Catherwood: YE BALANCE: $16,046 DISTRIBUTION: Income to United Way of Tompkins County
ACCOUNT:Sciencenter: YE BALANCE: $33,929 DISTRIBUTION: Income to Sciencenter
ACCOUNT:Tompkins Trust Company YE BALANCE: $120,323 DISTRIBUTION: Income to TTC Awards for Excellence
ACCOUNT:Van Houtte: YE BALANCE: $20,669 DISTRIBUTION: Income to Raymond Van Houtte Education Awards

External Trust Income
Jewell: $6,300 to grant awards
Strong: $15,386 to grant awards
Smith: $38,340 to grant awards

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