COMMUNITY FOUNDATION ALLIANCE Providing leadership and support for member Community Foundations in

Daviess, Gibson, Knox, Perry, Pike, Posey, Spencer, Vanderburgh, and Warrick counties as they promote philanthropy and build endowment to serve their communities.

Materials for Board of Directors Meeting Posted October 17, 2013

Minutes – September 19, 2013 Financial Reports – June, July, August and September 2013 (post-audit, no longer draft)

Statement of Financial Position

Statement of Change in Net Assets

Growth & Income Investment Activity (endowment)

Fixed Income Investment Activity (nonpermanent)

FY14 Operating Revenue/Expense

Resolutions

New fund- Ronnie G. Brashear Music Scholarship Fund (DAV)

Grants from Member Community Foundation (DAV, GIB, KNX, PIK)

Grants from Member Community Foundation (GIB)- Women’s Fund preapproval

Distributions from Advised Funds (DAV, KNX, VAN) Ratifications

Distributions from Advised Funds (DAV, PER, VAN, WAR)

Distributions from Advised Funds (POS)

Community Foundation Alliance Board of Directors Meeting

Medical Arts Building Conference Room St. Mary’s Hospital

September 19, 2013 In attendance were Board Chair Chris Harmon and Jean Blanton, Shane Bonaparte, John Dudenhoeffer, Randall Haaff, Bill Gillenwater, Tim Hayden, Dave Osmon, Jim Pearson, Mason Seay, Paul Singleton, Grant Taylor, Wil Teague and Tom Virgin. Directors absent were Jody Giles, Jim Gislason, Bill Goedde, Kim Keene, Carla Kidwell, Pam Lock, Marlene Parsley, and Carolyn Veale. Staff present were Jill Tullar, Becki Alcorn and Jill Swiz. Guests present: Mike Fleetwood and Shannon Borden, Blue & Co. Chair Chris Harmon determined a quorum was present and called the meeting to order. No changes were made to the agenda, and the meeting proceeded. Consent Agenda The consent agenda included the minutes from the August 22, 2013 meeting; financial reports for August 2013, plus:

Resolution from Member Community Foundation (DAV)- amended scholarship criteria

Grants from Member Community Foundation (VAN)- Women’s Fund preapproval

Merging of Board-created Funds (VAN)

Grant from Member Community Foundation Fund (VAN)

Change of Fund Name- Castle High School Dollars for Scholars Funds (WAR)

Distributions from Advised Funds (PER, SPE, VAN) A ratification for grants from a member community foundation (VAN) was also included. No conflicts were declared. Jim Pearson moved to accept the consent agenda. The motion was seconded and unanimously approved. Additional Action Four additional resolutions were presented to the board. First, a resolution to change the designation of a fund whose beneficiary was the now-defunct New Harmony School was presented. Since the fund has no living fund founders, the Posey County service committee recommended the fund be designated to the North Posey High School Science Department, as the school was referenced in the original fund agreement. John Dudenhoeffer moved to change the beneficiary as recommended; the motion was seconded and unanimously approved. Jean Blanton entered the meeting. Next, a grant from a member community foundation (SPE) and distributions from advised funds (VAN) were presented. Tim Hayden moved to approve both resolutions; the motion was seconded and unanimously approved. Finally, a resolution detailing a number of funds whose beneficiaries had requested their distributions be “rolled back” into the funds’ earnings was presented. Tullar noted that the county directors had had the conversations with the organizations, and as far as she knows, the roll back option had been received very favorably. John Dudenhoeffer moved to allow the roll backs as presented in the resolution; the motion was seconded and unanimously approved.

Audit Report Shannon Borden discussed the highlights of the financial report for the year ended June 30, 2013,

including Blue & Co.’s clean opinion for the Community Foundation Alliance. She pointed out the

management letter which contained no adjustments and no operating deficiencies.

Borden commented that the Alliance has one of the strongest administrative endowments of any of the

26 foundations she works with, and that the network structure allows for efficiency and cost savings.

However, she also noted that the Alliance’s investment in hedge funds and private equity

(approximately 20%) is much larger than others (closer to 5%).

Mike Fleetwood then distributed graphs that compared the Alliance to other community foundations in

terms of contributions, grant expense, net operating expenses, personnel costs, sustainability, and

spendable funds. He noted that the Alliance’s contributions were much lower than average when

calculated across all nine counties and that expenses were notably higher. From his personal experience

serving on a community foundation board for 10 years, Fleetwood suggested that these two factors

indicate that the staff and board should consider a correlation between the amount of grant dollars

being distributed and the amount of contributions being received. A discussion about the Alliance’s

current spending policy and general ideas of possible changes was held.

Dave Osmon presented a recommendation from the Investment/Finance Committee to accept the audit report. A vote was taken, and the recommendation was unanimously approved. Executive Director Report Jill Tullar reminded the board that each member must complete Conflict of Interest and Confidentiality Policy forms. The forms will be sent out again electronically. Completed versions should be mailed or scanned to Jill Swiz. Tullar then mentioned the re-messaging project being conducting by Williams Group, noting that she and Jill Swiz had recently conducted a conference call with Wg to view the rough drafts of the initial messages. The Core Messaging Team will be meeting for a half-day in early October to review the entire messaging templates live with Williams Group. She reminded the board that this phase of the project only has text as its outcome; any logo changes, suggested graphics, or other visual would be developed in the next steps of the project. Lastly, Tullar presented a revised version of the Alliance’s Spending Policy. Changes included minor grammatical edits and the insertion of the following paragraph:

In the case of designated or agency funds, the beneficiary may deem it appropriate or the fund

founder may request that the annual distribution be returned to the principal of the fund in

order to encourage the growth of the fund. There may also be instances when it would be

beneficial to pool distributions for multiple years to allow for more impactful grant making. In

such instances, the beneficiary or donor may request the eligible distribution be held in the

available-to-grant portion of the fund rather than returned to principal. In all instances, the

Alliance retains the right to determine the appropriate approach to distributing funds in

accordance with its policies and procedures.

Randall Haaff moved to accept the revised Spending Policy; the motion was seconded and unanimously approved. Executive Session and Adjournment Executive session was held, then the meeting was adjourned. The next meeting of the Alliance Board of Directors will be held on Thursday, October 24, 2013 at 4pm Central via teleconference. For those who wish to attend live, please meet at the Medical Arts Building Conference Room at St. Mary’s Hospital. ___________________________________ Jill Tullar, Secretary

Community Foundation AllianceFinancial CommentaryAs of August 31, 2013

STATEMENT OF FINANCIAL POSITIONAssetsAssets at the end of the month are $61,709,055. This is a decrease of approximately $956,000 from theprevious month and is attributable to the losses in the Growth and Income Pool.

LiabilitiesTotal liabilities decreased by approximately $66,000 from last month to an ending balance of $4,326,840.The change was attributed to the decrease in accounts payable, accrued liabilities and Amounts HeldFor Agencies.

Net AssetsThe balance in net assets has decreased to $57,382,215 and is approximately $890,000 less than theprevious month.

OPERATING REVENUE/EXPENSES

Admin Fee Revenue continues at the fee structure established on 1/1/09. Scholarship funds at 2.0%.All other funds 1.5% with two exceptions in Vanderburgh (Evansville Museum of Arts and ScienceEndowment Fund - Vanderburgh - no fee and Lower Ohio Valley Construction - Vanderbrugh - .5% fee).Approximate gifts of $151,000 have been received for the two month period.

Community Foundation Alliance, Inc.Statement of Financial Position

Year End Mo. To Mo.ASSETS 6-30-13 7/31/13 8/31/13 9/30/13 10/31/13 11/30/13 12/31/13 Inc. (Dec.)

Checking 36,643 101,774 40,845 (60,929)Money Market Pool & CD 562,889 240,418 277,841 37,423Growth and Income Pool 55,498,374 56,806,015 55,902,320 (903,695)Fixed Income Pool 2,136,753 2,139,052 2,146,703 7,651Accounts Receivable 117,502 120,001 120,001 0Pledges Receivable 99,209 98,509 62,715 (35,794)Furniture and Equipment 338,221 338,221 339,791 1,570Accum. Depreciation (182,468) (184,127) (185,815) (1,688)Rent Deposits 4,648 4,999 3,219 (1,780)Prepaids 1,000 1,000Life Insurance 14,853 14,853 14,853 0Charitable Trusts 2,985,582 2,985,582 2,985,582 0Total Assets 61,612,206 62,665,297 61,709,055 0 0 0 0 (956,242)

LIABILITIES / NET ASSETS

Liabilities Scholarships & Grants Payable 253,238 17,186 46,414 29,228Accts Pay and Accrued Liab 98,024 71,150 43,156 (27,994)Amounts Held For Agencies 4,083,352 4,175,709 4,108,113 (67,596)Annuity Payment Liability 129,288 129,222 129,156 (66)Total Liabilities 4,563,902 4,393,267 4,326,839 0 0 0 0 (66,428)

Net AssetsOperating Funds 2,415,379 2,443,999 2,418,860 (25,139)Operating Reserve 137,269 131,584 126,109 (5,475)Admin Endowment 2,969,460 3,040,182 2,991,547 (48,635)Nonperm. Funds for Other Org. 783,659 844,573 870,626 26,053Perm. Funds for the Benefit 0 of Other Organizations 47,683,159 48,772,573 47,939,232 (833,341)Temporarily Restricted 3,059,378 3,039,119 3,035,842 (3,277)Total Net Assets 57,048,304 58,272,030 57,382,216 0 0 0 0 (889,814)

TOTAL LIABILITIES / NET ASSETS 61,612,206 62,665,297 61,709,055 0 0 0 0 (956,242)

Community Foundation Alliance, Inc.Statement of Change in Net Assets

For the Month End Operating Operating Admin NonPerm Permanent Funds for Temporarily Total Change in Amounts August 2013 Funds Reserve Endowment Funds for Others the Benefit of Others Restricted Held for Agencies

Net Assets Beginning of Month 2,443,999 131,584 3,040,182 844,573 48,772,573 3,039,119 58,272,030 4,175,709 Gifts 1,218 130 27,327 28,604 28 57,307 3,875 Grant Revenue 4,680 4,680Returned Grants 2,678 2,678Fundraising 4,325 1,210 5,535Inkind Gift 1,700 1,700Interest/Dividends 1,651 813 749 13,029 46 16,288 1,116Realized Gains/Losses (480) (230) (710)Unrealized Gains/Losses 911 (49,561) 2,174 (794,386) (2,850) (843,712) (68,077)Other Revenue 923 923Grants (5,984) (1,500) (19,538) (27,022)Grants Interfund 5,475 (5,475) 0Admin Fees 68,493 (1,137) (62,869) 4,487 (4,487)Investment Management Fees (505) (17) (212) (268) (1,002) (23)Personal Costs (79,773) (79,773)Administrative Costs (5,780) (33) (591) (6,404)Occupancy Costs (8,540) (8,540)Development Costs (13,453) (2,295) (15,748)Change in value of annuities 0Other Expenses (501) (501)Net Assets Released 0Fund Transfer 0Ending Balance 2,418,860 126,109 2,991,547 870,626 47,939,232 3,035,842 57,382,216 4,108,113

Year To Date as of Operating Operating Admin NonPerm Permanent Funds for Temporarily Total Change in Amounts June 30, 2014 Funds Reserve Endowment Funds for Others the Benefit of Others Restricted Held for Agencies

Net Assets at June 30, 2013 2,415,379 137,269 2,969,460 783,659 47,683,159 3,059,378 57,048,304 4,083,352 Gifts 5,098 380 84,888 58,473 57 148,896 3,875 Grant Revenue 4,680 250 375 5,305Returned Grants 2,678 2,678Fundraising 8,425 6,427 14,852Inkind Gift 3,400 3,400Interest/Dividends 2,120 2,534 843 40,680 143 46,320 3,484Realized Gains/Losses (321) 17,366 (307) 279,683 976 297,397 23,883 Unrealized Gains/Losses 3,882 2,901 3,085 50,514 166 60,548 4,073Other Revenue 3,987 3,987Grants (7,818) (30,826) (38,644)Grants Interfund 12,895 (11,160) (1,500) (235) 0Admin Fees 138,060 (2,239) (126,773) 9,048 (9,048)Investment Management Fees (1,366) (1,094) (417) (17,628) (61) (20,566) (1,506)Personal Costs (154,335) (154,335)Administrative Costs (8,483) (68) (868) (9,419)Occupancy Costs (16,411) (16,411)Development Costs (15,093) (3,995) (19,088)Change in Value of Annuities 0Other Expenses (56) (56)Net Assets Released 0Fund Transfer 24,761 (24,761) 0Ending Balance 2,418,860 126,109 2,991,547 870,626 47,939,232 3,035,842 57,382,216 4,108,113

Community Foundation Alliance Growth & Income Investment Activity Fiscal Year Ending 6-30-14

July Beginning Foreign Invest. Realized Unrealized Transfers End Real Hedge Private Money Mgr.Month Gifts Fees Taxes Income Gain(Loss) Gain(loss) In/Out Month Equities Fixed Income Equity Assets Funds Equity Market Total Target Actual Return

GROWTH ASSETSJENSEN PORTFOLIO CL I 3,297,103 144,549 3,441,652 3,441,652 3,441,652 5% 4.4%STOCK 0 0 0 0VANGUARD 500 INDEX 5,180,755 263,507 5,444,262 5,444,262 5,444,262 10% 5.1%VANGUARD GRWTH INX 1,817,019 96,966 1,913,985 1,913,985 1,913,985 3% 5.3%VANGUARD DIVIDEND 3,189,430 169,766 3,359,196 3,359,196 3,359,196 6% 5.3%

US Equity 23.0% 24.9%AMBERDEEN EMRG MRKTS 1,748,148 40 240,000 1,988,188 1,988,188 1,988,188 3% 0.0%VANGUARD DEV MKTS 3,914,252 206,368 4,120,620 4,120,620 4,120,620 7% 5.3%MFS INTL VALUE CL I 1,802,267 71,068 1,873,335 1,873,335 1,873,335 3% 3.9%MORGAN STANLEY INTL 4,500,569 1,420 120,154 36,871 (615,000) 4,044,014 4,044,014 4,044,014 7% 3.5%VANGUARD EMERG MKT 1,622,640 20,541 375,284 2,018,465 2,018,465 2,018,465 4% 1.3%

Int'l Equity 24.0% 24.7%TEMPLETON GLBL BD 1,380,646 4,566 (3,250) 1,381,962 1,381,962 1,381,962 2.4%

Tot Grwth Fixed 3.0% 2.4%PORTFOLIO ADVISORS PEF 720,496 720,496 720,496 720,496 1.3%MONTAUK TRI-GUARD 414,441 414,441 414,441 414,441 0.7%NEUBERGER BERMAN III 53,630 53,630 53,630 53,630 0.1%

(Private Equity 2% 2% TOTAL GROWTH ASSETS 52.0% 54.2%RISK REDUCTION ASSETSSCHWAB (Sweep-Cash) 839,542 (20,000) 6 (55,631) 763,917 763,917 763,917 1% -2.4%PIMCO TOT RET FD 2,688,896 5,650 7,497 2,702,043 2,702,043 2,702,043 5% 0.5%COLCHESTER 1,249,392 1,249,392 1,249,392 1,249,392 2%PIMCO ALL ASSET INTL 2,602,234 39,131 2,641,365 2,641,365 2,641,365 5% 1.5%VANGUARD INTERN TERM 1,562,081 4,368 7,986 1,574,435 1,574,435 1,574,435 3% 0.8%PINEHURST INST LTD 5,790,389 5,790,389 5,790,389 5,790,389 10% 0.0%HAMMOND ACCESS SPC 5,490,885 71,273 5,562,158 5,562,158 5,562,158 10% 0.0% TOTAL RISK REDUCTION 37.0% 35.7%INFLATION PROTECTIONVAN ECK GLBL HARD 2,507,875 202,080 (86,597) (1,275,000) 1,348,358 1,348,358 1,348,358 2% 4.6%VANGUARD INFLATION 1,921,810 18,324 1,940,134 1,940,134 1,940,134 3%DOW JONES GLOBAL RE 1,010,160 15,926 11,280 (15,926) 1,021,440 1,021,440 1,021,440 2%RS GLOBAL NATURAL 0 (30,577) 1,275,000 1,244,423 1,244,423 1,244,423 2% #DIV/0! TOTAL INFLATION PROT 11% 9.8%

LORD ABBOT 20 20 20 20ALTERNATIVES 193,694 193,694 193,694 193,694 0.3% 0.0%TOTAL G & I 55,498,374 0 (14,350) 0 26,286 322,234 973,470 0 56,806,015 0 6,907,832 28,203,717 5,554,355 14,187,606 1,188,567 763,937 56,806,015 100% 100%

Monthly Return 2.36% 0% 13% 50% 10% 25% 2% 1% 100%

August Beginning Foreign Invest. Realized Unrealized Transfers End Real Hedge Private Money Mgr.

Month Gifts Fees Taxes Income Gain(Loss) Gain(loss) In/Out Month Equities Fixed Income Equity Assets Funds Equity Market Total Target Actual ReturnGROWTH ASSETSJENSEN PORTFOLIO CL I 3,441,652 (102,266) 3,339,386 3,339,386 3,339,386 5% 0.0%STOCK 0 0 0 0VANGUARD 500 INDEX 5,444,262 (157,596) 5,286,666 5,286,666 5,286,666 9% -2.9%VANGUARD GRWTH INX 1,913,985 (32,647) 1,881,338 1,881,338 1,881,338 3% -1.7%VANGUARD DIVIDEND 3,359,196 (116,790) 3,242,406 3,242,406 3,242,406 6% -3.5%

US Equity 23.0% 24.6%AMBERDEEN EMRG MRKTS 1,988,188 (94,411) 1,893,777 1,893,777 1,893,777 3% -4.7%VANGUARD DEV MKTS 4,120,620 (57,998) 4,062,622 4,062,622 4,062,622 7% -1.4%MFS INTL VALUE CL I 1,873,335 (44,915) 1,828,420 1,828,420 1,828,420 3% -2.4%MORGAN STANLEY INTL 4,044,014 (74,937) 3,969,077 3,969,077 3,969,077 7% -1.9%VANGUARD EMERG MKT 2,018,465 (69,246) 1,949,219 1,949,219 1,949,219 3% -3.4%

Int'l Equity 24.0% 24.5%TEMPLETON GLBL BD 1,381,962 4,592 (26,892) 1,359,662 1,359,662 1,359,662 2.4%

Tot Grwth Fixed 3.0% 2.4%PORTFOLIO ADVISORS PEF 720,496 720,496 720,496 720,496 1.3% 0.0%MONTAUK TRI-GUARD 414,441 414,441 414,441 414,441 0.7%NEUBERGER BERMAN III 53,630 53,630 53,630 53,630 0.1% 0.0%

(Private Equity 2% 2% TOTAL GROWTH ASSETS 52.0% 53.7%RISK REDUCTION ASSETSSCHWAB (Sweep) 763,917 7 15,186 779,110 779,110 779,110 1% 0.0%PIMCO TOT RET FD 2,702,043 6,023 (35,059) 2,673,007 2,673,007 2,673,007 5% -1.1%COLCHESTER 1,249,392 11,028 1,260,420 1,260,420 1,260,420 2%PIMCO ALL ASSET INTL 2,641,365 (43,479) 2,597,886 2,597,886 2,597,886 5% -1.6%VANGUARD INTERN TERM 1,574,435 4,442 (19,219) 1,559,658 1,559,658 1,559,658 3%PINEHURST INST LTD 5,790,389 5,790,389 5,790,389 5,790,389 10% 0.0%HAMMOND ACCESS SPC 5,562,158 5,562,158 5,562,158 5,562,158 10% 0.0%

37.0% 36.2% TOTAL RISK REDUCTIONINFLATION PROTECTIONVAN ECK GLBL HARD 1,348,358 26,819 1,375,177 1,375,177 1,375,177 2% 2.0%VANGUARD INFLATION 1,940,134 (32,984) 1,907,150 1,907,150 1,907,150 3%DOW JONES GLOBAL RE 1,021,440 (59,520) 961,920 961,920 961,920 2%RS GLOBAL NATURAL 1,244,423 11,662 1,256,085 1,256,085 1,256,085 2% 0.9% TOTAL INFLATION PROT 11% 9.8%

0LORD ABBOT 20 (160) 160 20 20 20ALTERNATIVES 193,694 (150) 1 (15,346) 178,199 178,199 178,199 0.3% -0.1%TOTAL G & I 56,806,015 0 (310) 0 15,064 0 (918,449) 0 55,902,320 20 6,852,747 27,452,911 5,500,332 14,128,632 1,188,567 779,110 55,902,320 100% 100%

Monthly Return -1.59% 12% 49% 10% 2% 1% 100%

Total for FYE 2013 to Date 55,498,374 0 (14,660) 0 41,350 322,234 55,021 0 55,902,320 403,946 0.73%

Hammond Return History 41,945,198 306,975 (375,180) (809) 4,530,470 3,646,963 7,233,673 (1,384,971) 55,902,320 15,035,118 35.84%Return

Return

Mutual Funds Asset Alloc.

Mutual Funds Asset Alloc.

Community Foundation AllianceONB Fixed Income Investment Activity FYE 2014Non permanent Funds

OtherBegin Interest Realized Unrealized End Monthly Fixed Pools &Month Transfers Fees Income Gain(Loss) Gain(loss) Month Return Govt. Corp. Income CMOS Cash Total

July 2,139,857 (653) 300 (244) (208) 2,139,052 -0.038% 447,986 224,731 912,754 481,962 71,619 2,139,05221% 11% 43% 23% 3%

Aug. 2,139,052 (654) 2,310 (710) 6,705 2,146,703 0.358% 485,245 224,069 812,111 586,963 38,315 2,146,70323% 10% 38% 27% 2%

Sept. 2,146,703 2,146,703 0.000% 0

Oct. 2,146,703 2,146,703 0.000% 0

Nov. 2,146,703 2,146,703 0.000% 0

Dec. 2,146,703 2,146,703 0.000% 0

Jan. 2,146,703 2,146,703 0.000% 0

Feb. 2,146,703 2,146,703 0.000% 0

Mar. 2,146,703 2,146,703 0.000% 0

Apr. 2,146,703 2,146,703 0.000% 0

May 2,146,703 2,146,703 0.000% 0

June 2,146,703 2,146,703 0.000% 0

Total for FYE 2013 to Date (1,307) 2,610 (954) 6,497 6,846 Return 0.32%

Community Foundation Alliance Year to Date Full Year FYE 14 Operating Revenue/Expense Daviess Gibson Knox Perry Pike Posey Spencer Vand Warrick Central Alliance BudgetTwo Months as of August 2013 TotalsREVENUE Grant Revenue - Lilly Scholars 0 0 0 0 0 0 0 0 0 0 0 60,000 Grant Revenue - AIF 0 0 0 0 0 0 0 0 0 0 0 110,000 Grant Revenue - CEEF 0 0 0 0 0 0 0 0 0 0 0 20,000 Grant Revenue - Intern 0 0 0 0 0 0 0 4,680 0 0 4,680 192,864 Grant Revenue - Other 0 0 0 0 0 0 0 0 0 0 0 0 Investment Income 243 153 343 129 99 272 235 369 206 1 2,050 41,592 Administrative Fee Revenue 24,090 11,505 14,168 12,810 4,445 13,457 14,038 34,026 5,499 4,022 138,060 776,604 Distribution from Adm Endowment 0 0 0 0 0 0 0 0 0 0 0 103,859 Interfund Grants and Transfers 0 0 1,300 0 0 700 700 330 700 11,160 14,890 114,992 Contributions to Operating Fund 60 0 200 2,145 0 183 105 0 2,200 205 5,098 66,500 Fundraising Revenue 0 0 0 0 0 1,325 0 7,100 0 0 8,425 117,950 Other Income (Expense) 2,546 0 63 46 0 41 41 38 68 1,145 3,987 17,321 TOTAL REVENUE 26,938 11,658 16,074 15,131 4,544 15,978 15,119 46,543 8,673 16,533 177,191 1,621,682DIRECT EXPENSES PERSONNEL COSTS: Salaries and Wages 10,718 6,913 9,054 9,370 0 6,014 8,036 16,914 9,459 55,473 131,950 819,237 FICA Taxes-Employer 797 531 559 395 0 617 607 1,280 701 4,095 9,583 63,308 W/C Ins., State Unemp. Ins. 0 0 0 0 0 0 0 0 0 214 214 2,800 IRA Contribution-Employer 295 207 57 161 0 379 200 471 256 1,520 3,546 20,160 Health Insurance 1,006 0 611 554 0 633 589 564 1,007 3,114 8,077 53,056 Life, AD&D & LT Disability Insurance 87 58 53 57 0 58 56 122 59 413 964 6,958 State Unemployment Compensation 0 0 0 0 0 0 0 0 0 0 0 0 Total Personnel Costs 12,902 7,709 10,335 10,538 0 7,701 9,489 19,349 11,483 64,829 154,335 965,519 ADMINISTRATIVE COSTS: Office Supplies 57 4 46 335 0 127 0 113 110 119 911 12,003 Software/Software Support 80 0 292 0 0 0 0 0 35 1,260 1,667 40,326 Printing 247 0 21 0 0 45 0 0 0 0 313 7,635 Postage & Shipping 0 0 0 120 0 0 36 230 0 6 391 10,154 Dues, Subscriptions, Ref. Materials 90 138 204 0 0 0 135 0 0 550 1,117 6,300 Technical Assistance 0 0 0 0 0 0 0 0 0 0 0 20,700 Grant for Memberships 0 0 0 0 0 0 0 0 0 0 0 7,300 Audit/Accounting Services 0 0 0 0 0 0 0 0 0 0 0 16,300 Directors & Officers Insurance 0 0 0 0 0 0 0 0 0 0 0 3,100 Legal Services 0 0 0 92 0 0 0 0 0 686 778 5,350 Telephone 262 202 273 117 217 370 282 389 417 426 2,956 18,089 Paypal/Credit Card Fees 0 0 0 1 0 1 0 0 0 0 2 2,037 Payroll Processing Fees 852 Miscellaneous Expense 35 0 0 108 0 0 0 0 0 205 348 4,025 Total Administrative Costs 770 344 837 772 217 543 453 732 562 3,252 8,483 154,171 OCCUPANCY COSTS: Rent 0 700 1,300 0 300 700 700 1,430 700 4,252 10,081 61,961 Housekeeping/Janitorial Service 90 0 300 200 0 0 54 0 0 0 644 4,980 Business Owners Insurance 15 0 0 0 0 0 0 0 0 0 15 4,617 Maintenance and Repairs 85 0 0 0 0 0 316 0 0 60 461 6,995 Equipment Purchase/Lease 0 0 0 0 0 0 0 95 0 142 237 5,460 Parking Expense 0 0 0 0 0 0 0 0 0 0 0 0 Utilities 484 0 0 221 0 0 0 240 0 627 1,571 10,740 Depreciation Expense 440 207 327 444 104 150 198 272 14 1,192 3,348 23,470 Total Occupancy Costs 1,114 907 1,927 864 404 850 1,268 2,037 714 6,273 16,357 118,223 DEVELOPMENT COSTS: Travel Expense 236 86 121 203 0 0 298 0 337 559 1,840 18,889 Meetings Expense 50 116 15 16 0 599 97 3,208 156 150 4,408 13,395 Annual Meeting Expense 0 0 0 0 0 0 (153) 0 0 0 (153) 7,095 Staff Development 0 0 0 19 0 0 128 0 100 415 662 6,395 Strategic Planning/Tech Assist/Board Train 0 0 0 0 79 811 0 0 0 1,230 2,121 8,200 Fundraising Event Expense 0 0 450 126 0 0 0 0 109 0 684 22,550 Marketing/Communications 716 66 1,275 38 0 161 79 1,829 181 0 4,345 48,912 Asset Development 31 0 0 0 0 968 0 100 87 0 1,185 11,860

0 0 0 0 0 0 0 0 0 0 0 Total Development Costs 1,033 267 1,861 402 79 2,540 449 5,137 969 2,355 15,093 137,296TOTAL DIRECT EXPENSES 15,819 9,228 14,960 12,576 700 11,634 11,658 27,255 13,727 76,708 194,267 1,375,209GRANTS AND DISTRIBUTIONS 0 0 0 0 0 0 0 0 0 5,520 5,520 (210,410)GRANTS INTERFUND 22 441 (60,000)CENTRAL OFFICE ALLOCATED EXPENSES 10,383 5,212 7,811 6,984 2,599 7,606 7,811 13,697 4,034 (66,136) 0 331,185

NET REVENUE (EXPENSE) 736 (2,782) (6,697) (4,430) 1,244 (3,261) (4,373) 5,591 (9,089) 0 (22,596) (23,937)

Community Foundation AllianceFinancial CommentaryAs of September 30, 2013

STATEMENT OF FINANCIAL POSITIONAssetsAssets at the end of the month are $63,492,758. This is an increase of approximately $1,784,000 from theprevious month and is attributable to the gains in the Growth and Income Pool.

LiabilitiesTotal liabilities increased by approximately $171,000 from last month to an ending balance of $4,497,959.The change was attributed to the increase in accounts payable, and Amounts Held For Agencies.

Net AssetsThe balance in net assets has increased to $58,994,799 and is approximately $1,612,000 more than theprevious month.

OPERATING REVENUE/EXPENSES

Admin Fee Revenue continues at the fee structure established on 1/1/09. Scholarship funds at 2.0%.All other funds 1.5% with two exceptions in Vanderburgh (Evansville Museum of Arts and ScienceEndowment Fund - Vanderburgh - no fee and Lower Ohio Valley Construction - Vanderbrugh - .5% fee).Approximate gifts of $277,000 have been received for the three month period.

Community Foundation Alliance, Inc.Statement of Financial Position

Year End Mo. To Mo.ASSETS 6-30-13 7/31/13 8/31/13 9/30/13 10/31/13 11/30/13 12/31/13 Inc. (Dec.)

Checking 36,643 101,774 40,845 27,101 (13,744)Money Market Pool & CD 562,889 240,418 277,841 862,098 584,257Growth and Income Pool 55,498,374 56,806,015 55,902,320 57,132,676 1,230,356Fixed Income Pool 2,136,753 2,139,052 2,146,703 2,130,597 (16,106)Accounts Receivable 117,502 120,001 120,001 120,001 0Pledges Receivable 99,209 98,509 62,715 62,965 250Furniture and Equipment 338,221 338,221 339,791 341,011 1,220Accum. Depreciation (182,468) (184,127) (185,815) (187,520) (1,705)Rent Deposits 4,648 4,999 3,219 3,219 0Prepaids 1,000 175 (825)Life Insurance 14,853 14,853 14,853 14,853 0Charitable Trusts 2,985,582 2,985,582 2,985,582 2,985,582 0Total Assets 61,612,206 62,665,297 61,709,055 63,492,758 0 0 0 1,783,703

LIABILITIES / NET ASSETS

Liabilities Scholarships & Grants Payable 253,238 17,186 46,414 18,364 (28,050)Accts Pay and Accrued Liab 98,024 71,150 43,157 100,580 57,423Amounts Held For Agencies 4,083,352 4,175,709 4,108,113 4,251,501 143,388Annuity Payment Liability 129,288 129,222 129,156 127,514 (1,642)Total Liabilities 4,563,902 4,393,267 4,326,840 4,497,959 0 0 0 171,119

Net AssetsOperating Funds 2,415,379 2,443,999 2,418,859 2,363,147 (55,712)Operating Reserve 137,269 131,584 126,109 120,395 (5,714)Admin Endowment 2,969,460 3,040,182 2,991,547 3,096,392 104,845Nonperm. Funds for Other Org. 783,659 844,573 870,626 877,408 6,782Perm. Funds for the Benefit 0 of Other Organizations 47,683,159 48,772,573 47,939,232 49,498,250 1,559,018Temporarily Restricted 3,059,378 3,039,119 3,035,842 3,039,207 3,365Total Net Assets 57,048,304 58,272,030 57,382,215 58,994,799 0 0 0 1,612,584

TOTAL LIABILITIES / NET ASSETS 61,612,206 62,665,297 61,709,055 63,492,758 0 0 0 1,783,703

Community Foundation Alliance, Inc.Statement of Change in Net Assets

For the Month End Operating Operating Admin NonPerm Permanent Funds for Temporarily Total Change in Amounts September 2013 Funds Reserve Endowment Funds for Others the Benefit of Others Restricted Held for Agencies

Net Assets Beginning of Month 2,418,859 126,109 2,991,547 870,626 47,939,232 3,035,842 57,382,215 4,108,113 Gifts 1,530 545 35,780 64,983 28 102,866 21,466 Grant Revenue 4,831 (10,000) (5,169)Returned Grants 2,000 2,000Fundraising 9,150 4,040 1,500 14,690Inkind Gift 1,810 1,810Interest/Dividends 5,362 7,015 2,366 112,379 394 127,516 9,632Realized Gains/Losses 1,470 26,578 (56) 425,754 1,491 455,237 36,492 Unrealized Gains/Losses (11,003) 70,707 (7,331) 1,132,640 3,966 1,188,979 97,080Other Revenue 419 419Grants (116,166) (116,166) (16,631)Grants Interfund 5,714 (5,714) (9,999) 10,000 1Admin Fees 70,723 (1,152) (64,920) 4,651 (4,651)Investment Management Fees (699) (213) 0 (912)Personal Costs (83,942) (83,942)Administrative Costs (46,255) (664) (9,093) (56,012)Occupancy Costs (8,332) (8,332)Development Costs (6,490) (5,989) (59) (12,538)Change in value of annuities (2,514) (2,514)Other Expenses 0 0Net Assets Released 0Fund Transfer 0Ending Balance 2,363,147 120,395 3,096,392 877,408 49,498,250 3,039,207 58,994,799 4,251,501

Year To Date as of Operating Operating Admin NonPerm Permanent Funds for Temporarily Total Change in Amounts June 30, 2014 Funds Reserve Endowment Funds for Others the Benefit of Others Restricted Held for Agencies

Net Assets at June 30, 2013 2,415,379 137,269 2,969,460 783,659 47,683,159 3,059,378 57,048,304 4,083,352 Gifts 6,628 925 120,669 123,455 85 251,762 25,340 Grant Revenue 9,511 (9,750) 375 136Returned Grants 4,678 4,678Fundraising 17,575 10,467 1,500 29,542Inkind Gift 5,210 5,210Interest/Dividends 7,482 9,549 3,209 153,060 536 173,836 13,116Realized Gains/Losses 1,149 43,945 (363) 705,436 2,467 752,634 60,375 Unrealized Gains/Losses (7,122) 73,609 (4,246) 1,183,155 4,133 1,249,529 101,153Other Revenue 4,406 4,406Grants (7,818) (1,500) (146,992) (156,310) (16,631)Grants Interfund 18,609 (16,874) (11,499) 9,764 0Admin Fees 208,783 (3,391) (191,693) 13,699 (13,699)Investment Management Fees (2,065) (1,095) (631) (17,628) (61) (21,480) (1,505)Personal Costs (238,277) (238,277)Administrative Costs (54,738) (1) (732) (9,960) (65,431)Occupancy Costs (24,743) (24,743)Development Costs (21,583) (9,984) (59) (31,626)Change in Value of Annuities (2,514) (2,514)Other Expenses (56) (56)Net Assets Released 0Fund Transfer 24,761 1,500 (24,761) 1,500Ending Balance 2,363,147 120,395 3,096,392 877,408 49,498,250 3,039,207 58,994,799 4,251,501

September Beginning Foreign Invest. Realized Unrealized Transfers End Real Hedge Private Money Mgr.

Month Gifts Fees Taxes Income Gain(Loss) Gain(loss) In/Out Month Equities Fixed Income Equity Assets Funds Equity Market Total Target Actual ReturnGROWTH ASSETSJENSEN PORTFOLIO CL I 3,339,386 9,602 93,812 40,433 (300,000) 3,183,233 3,183,233 3,183,233 5% 4.3%STOCK 0 0 0 0VANGUARD 500 INDEX 5,286,666 27,706 102,199 37,907 (250,000) 5,204,478 5,204,478 5,204,478 9% 3.2%VANGUARD GRWTH INX 1,881,338 6,481 89,547 (4,573) (200,000) 1,772,793 1,772,793 1,772,793 3% 4.9%VANGUARD DIVIDEND 3,242,406 16,375 78,346 31,773 (200,000) 3,168,900 3,168,900 3,168,900 6% 3.9%

US Equity 23.0% 23.3%AMBERDEEN EMRG MRKTS 1,893,777 2,580 148,578 2,044,935 2,044,935 2,044,935 4% 8.0%VANGUARD DEV MKTS 4,062,622 64,086 243,540 (300,000) 4,070,248 4,070,248 4,070,248 7% 7.6%MFS INTL VALUE CL I 1,828,420 26,930 92,107 (150,000) 1,797,457 1,797,457 1,797,457 3% 6.5%MORGAN STANLEY INTL 3,969,077 36,981 219,701 (150,000) 4,075,759 4,075,759 4,075,759 7% 6.5%VANGUARD EMERG MKT 1,949,219 17,828 124,797 (17,828) 2,074,016 2,074,016 2,074,016 4% 7.3%

Int'l Equity 24.0% 24.6%TEMPLETON GLBL BD 1,359,662 4,597 31,212 1,395,471 1,395,471 1,395,471 2.4%

Tot Grwth Fixed 3.0% 2.4%PORTFOLIO ADVISORS PEF 720,496 3,557 724,053 724,053 724,053 1.3% 0.0%MONTAUK TRI-GUARD 414,441 (39,730) 374,711 374,711 374,711 0.7%NEUBERGER BERMAN III 53,630 53,630 53,630 53,630 0.1% 0.0%

Private Equity 2% 2% TOTAL GROWTH ASSETS 52.0% 52.4%RISK REDUCTION ASSETSSCHWAB (Sweep) 779,110 7 904,001 1,683,118 1,683,118 1,683,118 3% 0.0%PIMCO TOT RET FD 2,673,007 4,689 42,668 2,720,364 2,720,364 2,720,364 5% 1.8%COLCHESTER 1,260,420 14,489 1,274,909 1,274,909 1,274,909 2% 1.1%PIMCO ALL ASSET INTL 2,597,886 21,929 58,554 2,678,369 2,678,369 2,678,369 5% 3.1%VANGUARD INTERN TERM 1,559,658 4,266 16,062 1,579,986 1,579,986 1,579,986 3% 1.3%PINEHURST INST LTD 5,790,389 45,778 5,836,167 5,836,167 5,836,167 10% 0.8%HAMMOND ACCESS SPC 5,562,158 (21,396) 5,540,762 5,540,762 5,540,762 10% -0.4%

37.0% 37.3% TOTAL RISK REDUCTIONINFLATION PROTECTION 0%VAN ECK GLBL HARD 1,375,177 61,085 1,436,262 1,436,262 1,436,262 3% 4.4%VANGUARD INFLATION 1,907,150 13,780 18,340 1,939,270 1,939,270 1,939,270 3%DOW JONES GLOBAL RE 961,920 53,280 1,015,200 1,015,200 1,015,200 2%RS GLOBAL NATURAL 1,256,085 54,195 1,310,280 1,310,280 1,310,280 2% 4.3% TOTAL INFLATION PROT 11% 10.0%

0LORD ABBOT 20 20 20 20ALTERNATIVES 178,199 85 178,284 178,284 178,284 0.3% 0.0%TOTAL G & I 55,902,320 0 0 0 129,840 491,901 1,308,615 (700,000) 57,132,676 20 6,970,730 27,391,819 5,701,012 14,233,582 1,152,394 1,683,118 57,132,676 100% 100%

Monthly Return 3.45% 12% 47% 10% 2% 3% 100%

Total for FYE 2013 to Date 55,498,374 0 (14,660) 0 171,190 814,135 1,363,636 (700,000) 57,132,676 2,334,302 4.21%

Hammond Return History 41,945,198 306,975 (375,180) (809) 4,660,310 4,138,864 8,542,288 (2,084,971) 57,132,676 16,965,474 40.45%Return

Mutual Funds Asset Alloc.

Return

Community Foundation Alliance Growth & Income Investment Activity Fiscal Year Ending 6-30-14

July Beginning Foreign Invest. Realized Unrealized Transfers End Real Hedge Private Money Mgr.

Month Gifts Fees Taxes Income Gain(Loss) Gain(loss) In/Out Month Equities Fixed Income Equity Assets Funds Equity Market Total Target Actual ReturnGROWTH ASSETSJENSEN PORTFOLIO CL I 3,297,103 144,549 3,441,652 3,441,652 3,441,652 5% 4.4%STOCK 0 0 0 0VANGUARD 500 INDEX 5,180,755 263,507 5,444,262 5,444,262 5,444,262 10% 5.1%VANGUARD GRWTH INX 1,817,019 96,966 1,913,985 1,913,985 1,913,985 3% 5.3%VANGUARD DIVIDEND 3,189,430 169,766 3,359,196 3,359,196 3,359,196 6% 5.3%

US Equity 23.0% 24.9%AMBERDEEN EMRG MRKTS 1,748,148 40 240,000 1,988,188 1,988,188 1,988,188 3% 0.0%VANGUARD DEV MKTS 3,914,252 206,368 4,120,620 4,120,620 4,120,620 7% 5.3%MFS INTL VALUE CL I 1,802,267 71,068 1,873,335 1,873,335 1,873,335 3% 3.9%MORGAN STANLEY INTL 4,500,569 1,420 120,154 36,871 (615,000) 4,044,014 4,044,014 4,044,014 7% 3.5%VANGUARD EMERG MKT 1,622,640 20,541 375,284 2,018,465 2,018,465 2,018,465 4% 1.3%

Int'l Equity 24.0% 24.7%TEMPLETON GLBL BD 1,380,646 4,566 (3,250) 1,381,962 1,381,962 1,381,962 2.4%

Tot Grwth Fixed 3.0% 2.4%PORTFOLIO ADVISORS PEF 720,496 720,496 720,496 720,496 1.3%MONTAUK TRI-GUARD 414,441 414,441 414,441 414,441 0.7%NEUBERGER BERMAN III 53,630 53,630 53,630 53,630 0.1%

(Private Equity 2% 2% TOTAL GROWTH ASSETS 52.0% 54.2%RISK REDUCTION ASSETSSCHWAB (Sweep-Cash) 839,542 (20,000) 6 (55,631) 763,917 763,917 763,917 1% -2.4%PIMCO TOT RET FD 2,688,896 5,650 7,497 2,702,043 2,702,043 2,702,043 5% 0.5%COLCHESTER 1,249,392 1,249,392 1,249,392 1,249,392 2%PIMCO ALL ASSET INTL 2,602,234 39,131 2,641,365 2,641,365 2,641,365 5% 1.5%VANGUARD INTERN TERM 1,562,081 4,368 7,986 1,574,435 1,574,435 1,574,435 3% 0.8%PINEHURST INST LTD 5,790,389 5,790,389 5,790,389 5,790,389 10% 0.0%HAMMOND ACCESS SPC 5,490,885 71,273 5,562,158 5,562,158 5,562,158 10% 0.0% TOTAL RISK REDUCTION 37.0% 35.7%INFLATION PROTECTIONVAN ECK GLBL HARD 2,507,875 202,080 (86,597) (1,275,000) 1,348,358 1,348,358 1,348,358 2% 4.6%VANGUARD INFLATION 1,921,810 18,324 1,940,134 1,940,134 1,940,134 3%DOW JONES GLOBAL RE 1,010,160 15,926 11,280 (15,926) 1,021,440 1,021,440 1,021,440 2%RS GLOBAL NATURAL 0 (30,577) 1,275,000 1,244,423 1,244,423 1,244,423 2% #DIV/0! TOTAL INFLATION PROT 11% 9.8%

LORD ABBOT 20 20 20 20ALTERNATIVES 193,694 193,694 193,694 193,694 0.3% 0.0%TOTAL G & I 55,498,374 0 (14,350) 0 26,286 322,234 973,470 0 56,806,015 0 6,907,832 28,203,717 5,554,355 14,187,606 1,188,567 763,937 56,806,015 100% 100%

Monthly Return 2.36% 0% 13% 50% 10% 25% 2% 1% 100%

August Beginning Foreign Invest. Realized Unrealized Transfers End Real Hedge Private Money Mgr.

Month Gifts Fees Taxes Income Gain(Loss) Gain(loss) In/Out Month Equities Fixed Income Equity Assets Funds Equity Market Total Target Actual ReturnGROWTH ASSETSJENSEN PORTFOLIO CL I 3,441,652 (102,266) 3,339,386 3,339,386 3,339,386 5% 0.0%STOCK 0 0 0 0VANGUARD 500 INDEX 5,444,262 (157,596) 5,286,666 5,286,666 5,286,666 9% -2.9%VANGUARD GRWTH INX 1,913,985 (32,647) 1,881,338 1,881,338 1,881,338 3% -1.7%VANGUARD DIVIDEND 3,359,196 (116,790) 3,242,406 3,242,406 3,242,406 6% -3.5%

US Equity 23.0% 24.6%AMBERDEEN EMRG MRKTS 1,988,188 (94,411) 1,893,777 1,893,777 1,893,777 3% -4.7%VANGUARD DEV MKTS 4,120,620 (57,998) 4,062,622 4,062,622 4,062,622 7% -1.4%MFS INTL VALUE CL I 1,873,335 (44,915) 1,828,420 1,828,420 1,828,420 3% -2.4%MORGAN STANLEY INTL 4,044,014 (74,937) 3,969,077 3,969,077 3,969,077 7% -1.9%VANGUARD EMERG MKT 2,018,465 (69,246) 1,949,219 1,949,219 1,949,219 3% -3.4%

Int'l Equity 24.0% 24.5%TEMPLETON GLBL BD 1,381,962 4,592 (26,892) 1,359,662 1,359,662 1,359,662 2.4%

Tot Grwth Fixed 3.0% 2.4%PORTFOLIO ADVISORS PEF 720,496 720,496 720,496 720,496 1.3% 0.0%MONTAUK TRI-GUARD 414,441 414,441 414,441 414,441 0.7%NEUBERGER BERMAN III 53,630 53,630 53,630 53,630 0.1% 0.0%

(Private Equity 2% 2% TOTAL GROWTH ASSETS 52.0% 53.7%RISK REDUCTION ASSETSSCHWAB (Sweep) 763,917 7 15,186 779,110 779,110 779,110 1% 0.0%PIMCO TOT RET FD 2,702,043 6,023 (35,059) 2,673,007 2,673,007 2,673,007 5% -1.1%COLCHESTER 1,249,392 11,028 1,260,420 1,260,420 1,260,420 2%PIMCO ALL ASSET INTL 2,641,365 (43,479) 2,597,886 2,597,886 2,597,886 5% -1.6%VANGUARD INTERN TERM 1,574,435 4,442 (19,219) 1,559,658 1,559,658 1,559,658 3%PINEHURST INST LTD 5,790,389 5,790,389 5,790,389 5,790,389 10% 0.0%HAMMOND ACCESS SPC 5,562,158 5,562,158 5,562,158 5,562,158 10% 0.0%

37.0% 36.2% TOTAL RISK REDUCTIONINFLATION PROTECTIONVAN ECK GLBL HARD 1,348,358 26,819 1,375,177 1,375,177 1,375,177 2% 2.0%VANGUARD INFLATION 1,940,134 (32,984) 1,907,150 1,907,150 1,907,150 3%DOW JONES GLOBAL RE 1,021,440 (59,520) 961,920 961,920 961,920 2%RS GLOBAL NATURAL 1,244,423 11,662 1,256,085 1,256,085 1,256,085 2% 0.9% TOTAL INFLATION PROT 11% 9.8%

0LORD ABBOT 20 (160) 160 20 20 20ALTERNATIVES 193,694 (150) 1 (15,346) 178,199 178,199 178,199 0.3% -0.1%TOTAL G & I 56,806,015 0 (310) 0 15,064 0 (918,449) 0 55,902,320 20 6,852,747 27,452,911 5,500,332 14,128,632 1,188,567 779,110 55,902,320 100% 100%

Monthly Return -1.59% 12% 49% 10% 2% 1% 100%

Mutual Funds Asset Alloc.

Mutual Funds Asset Alloc.

Community Foundation AllianceONB Fixed Income Investment Activity FYE 2014Non permanent Funds

OtherBegin Interest Realized Unrealized End Monthly Fixed Pools &Month Transfers Fees Income Gain(Loss) Gain(loss) Month Return Govt. Corp. Income CMOS Cash Total

July 2,139,857 (653) 300 (244) (208) 2,139,052 -0.038% 447,986 224,731 912,754 481,962 71,619 2,139,05221% 11% 43% 23% 3%

Aug. 2,139,052 (654) 2,310 (710) 6,705 2,146,703 0.358% 485,245 224,069 812,111 586,963 38,315 2,146,70323% 10% 38% 27% 2%

Sept. 2,146,703 (656) 7,278 (172) (22,556) 2,130,597 -0.750% 484,979 225,249 572,526 548,741 299,102 2,130,59723% 11% 27% 26% 14%

Oct. 2,130,597 2,130,597 0.000% 0

Nov. 2,130,597 2,130,597 0.000% 0

Dec. 2,130,597 2,130,597 0.000% 0

Jan. 2,130,597 2,130,597 0.000% 0

Feb. 2,130,597 2,130,597 0.000% 0

Mar. 2,130,597 2,130,597 0.000% 0

Apr. 2,130,597 2,130,597 0.000% 0

May 2,130,597 2,130,597 0.000% 0

June 2,130,597 2,130,597 0.000% 0

Total for FYE 2013 to Date (1,963) 9,888 (1,126) (16,059) (9,260) Return -0.43%

Community Foundation Alliance Year to Date Full Year FYE 14 Operating Revenue/Expense Daviess Gibson Knox Perry Pike Posey Spencer Vand Warrick Central Alliance BudgetThree Months as of September 2013 TotalsREVENUE Grant Revenue - Lilly Scholars 0 0 0 0 0 0 0 0 0 0 0 60,000 Grant Revenue - AIF 0 0 0 0 0 0 0 0 0 0 0 110,000 Grant Revenue - CEEF 0 0 0 0 0 0 0 0 0 0 0 20,000 Grant Revenue - Intern 0 0 0 2,438 0 0 2,394 4,680 0 0 9,511 192,864 Grant Revenue - Other 0 0 0 0 0 0 0 0 0 0 0 0 Investment Income 910 569 1,268 478 374 1,012 871 1,379 752 (201) 7,412 41,592 Administrative Fee Revenue 36,463 17,397 21,384 19,371 6,716 20,340 21,226 51,503 8,311 6,071 208,783 776,604 Distribution from Adm Endowment 0 0 0 0 0 0 0 0 0 0 0 103,859 Interfund Grants and Transfers 0 0 1,950 0 0 1,050 1,050 330 1,050 16,874 22,304 114,992 Contributions to Operating Fund 60 0 450 2,220 0 183 155 0 2,700 205 5,973 66,500 Fundraising Revenue 0 0 0 0 0 4,475 0 13,725 0 0 18,200 117,950 Other Income (Expense) 2,546 0 63 46 0 60 41 38 68 1,545 4,406 17,321 TOTAL REVENUE 39,978 17,966 25,115 24,553 7,090 27,120 25,737 71,655 12,882 24,494 276,590 1,621,682DIRECT EXPENSES PERSONNEL COSTS: Salaries and Wages 15,739 10,681 13,530 14,199 0 10,622 12,247 26,091 14,259 86,188 203,557 819,237 FICA Taxes-Employer 1,169 821 830 746 0 964 927 1,974 1,056 6,368 14,855 63,308 W/C Ins., State Unemp. Ins. 0 0 0 0 0 0 0 0 0 671 671 2,800 IRA Contribution-Employer 443 207 88 161 0 492 309 727 384 2,350 5,161 20,160 Health Insurance 1,542 113 925 671 0 949 903 864 1,543 4,762 12,273 53,056 Life, AD&D & LT Disability Insurance 130 87 80 371 0 87 84 183 89 620 1,732 6,958 State Unemployment Compensation 0 0 0 29 0 0 0 0 0 0 29 0 Total Personnel Costs 19,023 11,909 15,453 16,178 0 13,115 14,471 29,839 17,331 100,958 238,277 965,519 ADMINISTRATIVE COSTS: Office Supplies 177 4 86 368 0 127 13 338 8 230 1,350 12,003 Software/Software Support 80 21 292 0 0 0 0 0 85 22,722 23,200 40,326 Printing 787 35 21 0 0 456 0 0 0 0 1,299 7,635 Postage & Shipping 0 0 0 120 0 66 82 690 0 455 1,413 10,154 Dues, Subscriptions, Ref. Materials 90 258 204 256 0 0 135 100 0 1,290 2,333 6,300 Technical Assistance 0 0 0 0 0 0 0 0 0 2,000 2,000 20,700 Grant for Memberships 0 0 0 0 0 0 0 0 0 0 0 7,300 Audit/Accounting Services 0 0 0 0 0 0 0 0 0 16,400 16,400 16,300 Directors & Officers Insurance 0 0 0 0 0 0 0 0 0 0 0 3,100 Legal Services 0 0 76 92 0 0 0 0 0 787 955 5,350 Telephone 391 303 647 208 326 556 422 585 628 986 5,054 18,089 Paypal/Credit Card Fees 0 0 0 1 0 1 0 0 0 0 2 2,037 Payroll Processing Fees 0 0 0 0 0 0 0 0 0 68 68 852 Miscellaneous Expense 35 0 0 343 0 0 0 0 0 205 583 4,025 Total Administrative Costs 1,560 622 1,327 1,387 326 1,206 653 1,713 721 45,144 54,658 154,171 OCCUPANCY COSTS: Rent 0 1,050 1,950 0 450 1,050 1,050 2,144 1,050 6,378 15,122 61,961 Housekeeping/Janitorial Service 130 0 300 200 0 0 126 0 0 60 816 4,980 Business Owners Insurance 15 0 0 0 0 0 0 0 0 0 15 4,617 Maintenance and Repairs 480 0 0 100 0 0 366 0 0 60 1,006 6,995 Equipment Purchase/Lease 0 0 0 13 0 0 0 153 105 213 484 5,460 Parking Expense 0 0 0 0 0 0 0 0 0 0 0 0 Utilities 507 0 0 366 0 0 0 360 0 960 2,193 10,740 Depreciation Expense 667 311 490 666 156 224 297 408 21 1,813 5,052 23,470 Total Occupancy Costs 1,799 1,361 2,740 1,344 606 1,274 1,839 3,065 1,176 9,484 24,688 118,223 DEVELOPMENT COSTS: Travel Expense 329 255 285 302 0 0 298 330 337 910 3,046 18,889 Meetings Expense 110 132 34 16 0 599 201 3,338 204 217 4,851 13,395 Annual Meeting Expense 0 0 0 0 0 0 (153) 0 0 0 (153) 7,095 Staff Development 0 100 100 19 0 0 128 0 100 1,874 2,321 6,395 Strategic Planning/Tech Assist/Board Train 0 0 0 0 79 826 10 0 0 1,280 2,196 8,200 Fundraising Event Expense 0 0 450 292 0 0 0 0 109 0 850 22,550 Marketing/Communications 1,367 171 1,739 38 0 161 214 2,932 354 0 6,976 48,912 Asset Development 128 0 0 0 0 968 102 100 87 0 1,385 11,860

0 0 0 0 0 0 0 0 0 0 0 Total Development Costs 1,934 658 2,608 667 79 2,555 800 6,700 1,190 4,281 21,473 137,296TOTAL DIRECT EXPENSES 24,316 14,550 22,128 19,576 1,011 18,150 17,762 41,317 20,419 159,867 339,096 1,375,209GRANTS AND DISTRIBUTIONS 0 0 0 0 0 0 0 1 0 5,520 5,521 (210,410)GRANTS INTERFUND 23 441 (60,000)CENTRAL OFFICE ALLOCATED EXPENSES 22,190 11,137 16,692 14,925 5,554 16,253 16,692 29,270 8,621 (141,335) 0 331,185

NET REVENUE (EXPENSE) (6,528) (7,720) (13,705) (9,947) 524 (7,283) (8,740) 1,067 (16,158) 0 (68,027) (23,937)

COMMUNITY FOUNDATION ALLIANCE Providing leadership and support for member Community Foundations in

Daviess, Gibson, Knox, Perry, Pike, Posey, Spencer, Vanderburgh, and Warrick counties as they promote philanthropy and build endowment to serve their communities.

Board Resolution New Component Fund

WHEREAS, the Board of Directors of the Community Foundation Alliance has the authority to establish component funds that fulfill the charitable purpose of the Alliance, its affiliate foundations, and their donors,

THEREFORE, in regular session on October 24, 2013, the Board of Directors approved the following component funds:

Ronnie G. Brashear Music Scholarship Fund (DAV), a designated endowment fund created by Montez “Teddi” Brashear to provide support to the Washington Community School Foundation Corporation to provide an annual scholarship to a graduating senior of Washington High School who is pursing post-secondary education leading to a career in the field of music. ___________________________________ ___________________________________ Chair, Board of Directors Secretary, Board of Directors