COVID-19 INFORMATION FOR FUNDHOLDERS
A Message from Linda Speed, President and CEO
Like you, all of us at the Community Foundation of Southern Indiana are thinking of all of the individuals, families, businesses and communities that have been impacted by COVID-19 (Coronavirus). We are closely monitoring the situation and its effect on our region.
THINGS TO KNOW:
- Working Remotely. On Monday, March 23, Indiana Governor Eric Holcomb announced a mandatory “stay-at-home” order in effect through April 7. During this time the Community Foundation’s in-person office will be closed. However, our staff are continuing to work remotely and maintaining all critical services of the Foundation. We understand this is a difficult time and it is our promise to continue our work for you and our community.
- Meetings. Although for safety’s sake we are not currently hosting face-to-face meetings, welcoming visitors, or traveling, we remain available to provide personalized services to clients and prospects no matter where we are. Every staff member of CFSI has access to voicemail, email and will respond immediately to any issues or concerns. In addition, we will arrange virtual meetings via phone or video conferences, as needed.
- Invested Endowed Funds. I want to assure you that the Community Foundation, along with our board of directors, investment committee and investment consultants (4th Street Performance Partners), are closely monitoring the market and its impact on the Foundation’s portfolio. During times like this it is important to remember that endowed funds are invested permanently, to provide for the causes you care most about in perpetuity. While short-term swings in the market can impact your fund’s balance, the Foundation’s team takes a very long-term approach when thinking about your fund’s performance. Our investment policy requires our endowment funds to be invested in a diverse portfolio of stocks and bonds designed to weather market volatility over the long-term. You will receive your fund statements next month, and while the current market volatility will impact your fund, we want you to know that we are following our investment policy to protect your fund for long-term sustainability.
- Pass-through Funds. Pass-through funds are not included in the endowment investment pool and therefore are not impacted by market volatility. If you hold a pass-through fund at the Foundation the full balance of your fund continues to be available for granting. The grant recommendation form can be found on our website.
- Disaster Relief Fund. The Community Foundation has opened its Disaster Relief Fund to provide for community needs which arise from COVID-19. 100% of the donations will be used to address community needs related to this pandemic. Learn more here. Or, if you want to help you can make a gift to the fund via the giving page on our website or by recommending a grant from your donor advised fund.
There is no higher priority at CFSI than serving you, our fundholders, and this community. It is our promise to serve as this community’s philanthropic partner, resource and steward. That promise continues to apply, especially during times like these. Over the next several weeks, CFSI will continue to monitor the situation and provide updates, when necessary, on our website and social media platforms. This webpage will be updated as more information is available. Stay safe, take care, and call on us if you need anything at all.
If you have any other questions or concerns please call me at 812-948-4662 or you can reach me via email at email@example.com.
Linda S. Speed
President and CEO