Fundy Community Foundation
Serving the Communities of Charlotte County, N.B., Canada - Incorporated in 1993
FINANCIAL INFORMATION

Audited Financial Statements:
FCF Financial reports are audited annually by Cumming, Webber, Francouer, chartered accountants, Saint John. Full audited financial statements are available on request by contacting our office at (506) 529-4896 or E:Mail fundycf@nb.aibn.com

<>Click Here for 2008 Annual Report with excerpt of financial statements
Click Here for 2007Annual Report with excerpt of financial statements
Click Here for 2006 Annual Report with excerpt of financial statements
Click Here for 2005 Annual Report with excerpt of financial statements

Click Here for 2004 Annual Report with excerpt of financial statements

Investment Policy:
All donations to endowment funds are held in perpetuity by FCF and pooled for investment purposes. FCF disburses only from the income earned on investments. The capital is never touched.

The FCF Board of Directors establishes an investment policy which sets objectives on the return of its investments and limits on the level of risk, types of investments, and composition of its portfolio. All investments are handled by an independent investment firm, Scotia Cassells. 

Click Here for a Copy of Fundy Community Foundation's Investment Policy

Spending Policy:
FCF has a spending policy which provides a framework for prioritizing spending of income earned on its funds. This policy allows for the build-up of capital over time to offset the effects of inflation of all funds.

Click Here for a Copy of Fundy Community Foundation's Spending Policy


Administration Fee:
Every dollar of every gift is retained in the capital of the endowment funds in perpetuity. FCF charges an administration fee equal to 1 percent of the average balance of the capital of unrestricted community funds and 1.5 percent of the  balance of the capital of all other fund types. This fee is taken from the earnings, not the capital. 

Disbursements:
Each year disbursements are made from earnings on investments according to the philanthropic wishes of the donors. Disbursements are based on the earnings of the previous fiscal year. In 2006, FCF dsbursed a total of $66,027 in support of charitable causes in Charlotte County. In 2005, FCF disbursed $54,673 in support of charitable causes in Charlotte County. This includes disbursements from all funds including scholarships, designated funds, field of interest funds, and the community funds.

FAQ's Professional Advisors:
Professional advisors often have questions about FCF, its funds and how they can best serve their clients. Click here for answers to frequently asked questions by professional advisors.