Finance Committee Mission Statement
The mission of the Finance Committee shall be to maximize safety and financial gain for the endowed assets of the Baraga County Community Foundation so as to provide funds to achieve improvement in the charitable, educational, cultural, recreational, environmental, and social welfare needs of the Baraga County area.
Finance Committee Statement of Investment Objective
The Foundation’s investment priorities are, (1) protection and growth of principal and, (2) maximum income commensurate with safety of principal.
The investment objective of the Foundation is to achieve a maximum rate of return over time, through the investment in fixed income, equity securities and cash equivalents, taking into consideration safety of principal and income, account growth and liquidity needs for distribution requirements.
It is desired that a fiduciary adhere to the “prudent man” rule which requires the exercise of that degree of judgment and care under the circumstances then prevailing which persons of prudence, discretion and intelligence, who are familiar with such matters, exercise in the management of their own affairs not in regard to speculation, but in regard to the permanent disposition of the funds considering the probable income to be derived therefrom as well as the probable safety of their capital.
FORM 990 – 2015
Link: 2015 990 as filed