We make sure the charitable dollars entrusted to us by our donors benefit our community today and forever. In addition to our board of directors, our investments are overseen by our investment committee and our investment manager Spider Management Company LLC, a wholly-owned subsidiary of the University of Richmond.
After analyzing different endowment investment models, on July 1, 2011 we entered into a partnership established by Spider Management to hold and invest the endowments of nonprofit organizations. We joined with more than 20 other nonprofits that co-invest their assets as partners with Spider Management.
The University of Richmond's endowment investment return has historically ranked in the top quartile of its peers, according to the National Association of College and University Business Officers. Spider manages approximately $2.8 billion in assets as on June 30, 2011. Investing with Spider provides us access to a mature, well-diversified investment portfolio managed by a professional staff with an excellent performance record. See Frequently Asked Questions about our investment management.
for the 2010 audited financial statements from the Hampton Roads Community Foundationfor the 2010 Return of Organization Exempt From Income Tax (990) form for the Hampton Roads Community FoundationEfficiency of Operations Maintaining a low-cost structure is a goal of the Foundation. For 2010 the ratio of supporting expenses to average net assets was .76%. Information on our investment program is available by calling (757) 622-7951 or writing Hampton Roads Community Foundation, 101 W. Main Street, Suite 4500, Norfolk, VA 23510. |