2010 FINANCIAL S The Hampton Roads Community Foundation is
committed to being a good steward of the assets entrusted to it by generous donors over the past 61 years. We invest our resources wisely so they grow to meet future needs while allowing us to provide grants and scholarships today. Oversight of our investment portfolio is handled by our investment committee working in tandem with our investment consultant. The committee sets policy, establishes performance benchmarks, selects managers and monitors performance. The chart below shows the current policy allocation. Our
approach is to emphasize diversification and risk-adjusted returns. We seek to provide downside protection, while also focusing on performance over a full market cycle. Our conservative position during the recent recession
provided great downside protection. However, this approach has been a drag on performance during the 2010 market rally. During the past three years, our portfolio’s annualized
return was -0.7%, which lagged a target index (60% S&P 500/40% Barclay’s Capital) by 1.8%. The illiquid real assets portfolio was the main performance detractor along with domestic and international equity. The positive returns of the fixed income and hedge fund allocations helped bolster the portfolio during this period. Our portfolio’s annualized return was 3.9% over the past five years, roughly in-line with a 60/40 index.
Summarized Financial Statements Y E A R E N D E D D E C E M B E R 3 1, 2010
Assets: Investments
Growth (41.8%)
CURRENT ASSET ALLOCATION Risk Reduction
(44.9%)
U.S. Equities (16.8%)
Hedge Funds (28.4%)
International Equities Fixed Income (16.5%)
Private Equity (8.5%)
(8.5%) Cash
(8.0%)
Revenues: Contributions
PERFORMANCE AS OF 12 - 31- 10
Market Value
master pool portfolio
1 3 5 Year Yrs Yrs
Hampton Roads Community Foundation’s $208,810,500 8.3% -0.7% 3.9%
Benchmark: 60% S&P 500/ 40% Barclays Capital
Inception June 2000
4.1% Since
Net assets received upon VBF merger Changes to future interests Investment income Grant refunds & other
Total revenues
Grants and expenses: Grants and other program services Supporting services
12.1% 1.1% 4.1% 3.2%
Note: The benchmark allocation has similar risk and return characteristics to our master pool portfolio. Returns are net of all fees and are for funds invested in the Hampton Roads Community Foundation’s master pool. Financial perfor- mance is regularly updated on our website.
Total grants and expenses Change in net assets
Net assets beginning of year Net assets end of year
$
10,246,924 12,969,189 1,067,956 14,402,343 41,050
$ 38,727,462 $ $
12,323,358 1,328,398
13,651,756
$ 25,075,706 $ 214,554,711 $ 239,630,417
These summarized statements do not include all disclosures and the format required by generally accepted accounting principles. Complete audited financial statements, which include footnotes, are available upon request and are posted at
hamptonroadscf.org.
19
Operating cash and fixed assets Future interests
Inflation Protection (13.3%)
Real Assets (8.9%)
U.S. Inflation (4.4%)
Total assets
Liabilities and net assets: Funds held for others
Grant and other payables Net assets
Total liabilities and net assets
$ 215,081,629 2,203,622 27,079,871
$ 244,365,122
$ 4,597,609 137,096
239,630,417 $ 244,365,122
Hampton Roads Community Foundation •
hamptonr oadscf.or g
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