Financial Information
As stewards we strive to ensure that the charitable objectives of our donors will be met in perpetuity. We do this through prudent investment and spending practices. ARCF welcomed FY 2010 as a year of growth. Total assets reached $121.9 million. Gifts received during 2010 exceeded $10 million, and grant payments totaled $8.8 million. ARCF’s diversified investment allocation returned 11.3 percent, ahead of its composite index. The allocation at June 30, 2010 was comprised of 49.2 percent to equities, 23.6 percent to fixed income, 21.9 percent to alternative investments and 5.3 percent to cash equivalents.
Policy Asset Allocation
| Summarized Financial Information as of, and for the year ending, June 30, 2010 |
| Statement of Financial Position |
| Assets |
| Cash and Cash Equivalents |
$11,202,561 |
| Investments at Market Value |
100,034,913 |
| Receivables and Other Assets |
10,660,627 |
| Total Assets |
$121,898,101 |
| Liabilities and Net Assets |
| Scholarships Payable and Other Liabilities |
$1,030,430 |
| Agency Liabilities* |
13,504,226 |
| Net Assets |
107,363,445 |
| Total Liabilities and Net Assets |
$121,898,101 |
| Statement of Activities |
| Revenue |
| Contributions |
$10,650,834 |
| Other, net |
13,286,691 |
| Less amount for agency liabilities |
(1,731,914) |
| Total Revenue |
$22,205,611 |
| Expenses |
| Grants |
$8,873,936 |
| Other Expenses |
1,760,388 |
| Less amount for agency liabilities |
(771,646) |
| Total Expenses |
$9,862,678 |
| Increase in Net Assets |
$12,342,933 |
*In 2001, ARCF adopted a national standard of the Financial Accounting Standards Board (FASB) Statement 136, which resulted in all agency endowment funds being reclassified to liabilities from net assets.
The complete audited financial statements are available upon request.
| Performance as of June 30,2010 |
| |
01Yr |
03Yrs |
05Yrs |
10Yrs |
14Yrs |
| ARCF Composite Return Net of Investment Fees |
11.30% |
-04.40% |
01.90% |
02.30% |
05.40% |
| Composite Index Based on Actual Allocation |
10.00% |
-07.10% |
00.10% |
00.90% |
04.80% |
| Operating Expense Ratios |
|
2006 |
2007 |
2008 |
2009 |
2010 |
| Total Assets |
$107,805,467 |
$126,388,806 |
$129,131,177 |
$109,592,919 |
$109,592,919 |
| Total Operating Expense |
1,411,199 |
1,597,886 |
1,748,817 |
1,681,630 |
1,742,157 |
| Number of Employees |
| Full Time ARCF Central Office |
10.5 |
11 |
11.5 |
11 |
11 |
| Part Time Local Directors |
23 |
24 |
24 |
25 |
27 |
| Operating Expense as % of Total Assets |
| Central and Local Offices |
1.31% |
1.26% |
1.35% |
1.53% |
1.43% |
Finance Committee
Jim Williamson, Chair
Ted Belden
John Chamberlin
Ted Gammill
George McLeod
Eric Hutchinson
John Steuri
Audit Committee
Glenn Freeman, Chair
Murray Claycomb
Jim Williamson
Margaret Wills
Lane Keeter
Investment Consultant
Hammond Associates, St. Louis, MO
Investment Managers
Colchester Global Investors
Colliers Dickson Flake Partners
Comerica World Asset Management
Corbin Capital Partners – Pinehurst
Dodge & Cox
Goldman, Sachs & Company
ING Clarion Partners
iShares S&P
Luther King Capital Management
Mondrian Investment Partners
Morgan Stanley Smith Barney
Northgate Capital
Neuberger Berman
Park Street Capital
PIMCO
Silver Creek Capital Management
State Street Global Advisors
Stephens Inc.
Stralem and Company
Vanguard Group
Grants by Program Area 2010
Five Year Gifts History
Five Year Grants History
ARCF Asset History 1976-2010
