Thanks to our generous Rotarians, the Bellevue Rotary Legacy Fund is enjoying great progress in building an endowment that will make a meaningful difference in our community.
Here are some key controls that have been established by the Foundation Board to ensure that your legacy is carefully monitored and thoughtfully administered:
· The Bellevue Rotary Foundation Finance Committee (comprised of the Rotary Past President, current President, President-elect, Vice president and Treasurer) review the Legacy Fund investment portfolio at least semi-annually and evaluate its structure and performance relative to targets set by the Foundation Board’s policy document.
· The professional investment advisors (Brighton Jones) closely monitor the portfolio relative to allocation targets and appropriate benchmarks and provide recommendations to the Foundation Board for any adjustments.
The investment portfolio is currently comprised of approximately 30% in investment grade bonds, 20% in higher yielding bonds and 50% in globally diversified stocks. Excluding deposits, Brighton Jones reports that the endowment has grown by nearly $60,000 from November 2018 through mid-April of this year. The return for that period is around 11% annualized. As most investors are aware, stocks experienced a brief but severe bear market in March/April of 2020, but the Fund weathered the storm better than many given the conservative balanced allocation to stocks and bonds.
To ensure that the Legacy Fund follows the desired path, the Foundation has also established several controls:
· The Club Administrator reconciles the investment account to the accounting records monthly.
· The Treasurer reviews the reconciliation monthly.
· The Treasurer reports the investment balance and any earnings and donations to the Foundation board monthly.
· The Legacy Fund Committee Chair tracks activity monthly to compare to the investment account balance.
Giving to The Bellevue Rotary Legacy Fund will provide an ongoing and lasting resource for the Club for projects in our community and internationally for many years to come. Thank you for your generosity and thoughtfulness in including the Bellevue Rotary Legacy Fund in your lifetime and estate planning.