Financial Information

As a public charitable foundation, the Western Colorado Community Foundation adheres to the highest standards for financial accountability and transparency. WCCF’s board of directors elects a Treasurer and four-person Finance Committee who work closely with our Director of Finance and Administration to prepare and review quarterly financial statements.

The annual 990 tax return is prepared each year by Dalby Wendland and Company. The board also appoints an Audit Committee to oversee an independent audit of financial statements each year and to review internal controls.

The Western Colorado Community Foundation manages over $118 million in total assets. Our primary holdings are long-term investments. WCCF also manages several revenue-generating assets including mineral rights and real estate holdings.

Our Community Foundation’s annual operating budget is approximately $1,150,000 – roughly 1% of its total assets. Operations are covered primarily through an administrative fee that is charged on all invested funds. In addition to fees, approximately 20% of the operating budget each year is covered through income from our own operating endowment, individual donations, and grants for special projects.

Investment Management

The long-term stewardship of donations entrusted to WCCF by our many donors is one of our organization’s most important responsibilities. Our investment program pools the assets of all our permanent charitable funds for investment purposes. Each individual fund benefits from the strength of a large, well-diversified portfolio. This results in professional, high-quality investment management at reasonable fees and costs.

WCCF has an Investment Committee comprised of board members and community leaders with investment expertise that develops the investment and spending policies and establishes the target strategic asset allocation, performance goals and benchmarks. The Investment Committee hires and monitors an investment consultant, Mason Investment Advisors. Mason has a strong performance track record and special expertise in working with community foundation clients.

The long-term investment portfolio is well-diversified and includes 16 different asset classes and is regularly re-balanced to stay in compliance with the strategic asset allocation. Our portfolio is invested approximately 78% in growth vehicles and 22% in income vehicles.

Currently our investment policy prohibits more risky alternative investments. The portfolio includes both actively managed and passive funds. The target annualized 10-year return is 6-8% net of investment management and internal fund fees. This return rate allows us to fulfill our goal of paying out 4.5% each year, covering our administrative fee, and reinvesting 2% to 3% each year so that the fund balance grows to keep pace with inflation.

Our assets are invested in a long-term grown portfolio with the following composite returns. These are net of all investment fees.

Annualized returns (performance as of 12/31/21)

1-year annualized: 20.03%
3-year annualized: 17.42%
5-year annualized: 11.44%

Please note that WCCF has been in its current portfolio since November 2013. Past performance is no guarantee of future performance.

In addition to its long-term invested assets, the Western Colorado Community Foundation holds cash reserves and shorter duration project funds and funds for pay-out of grants and scholarships. Millions of dollars with liquidity requirements are held in local banks and financial institutions in western Colorado.

Forms

990 forms

Administrative Fees

Gift Processing Fees