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Transferring Gifts of Stock

Your gift of publicly traded securities, like stocks and bonds, can net you big gains when you establish or add to a charitable fund at the community foundation. And, we make the transaction easy.

Stocks 

The charitable income tax deduction you receive is based on the current market value of the securities – the average of the high and low – on the date we irrevocably receive the shares. 

We have developed a very efficient and timely transfer process with FirstMerit, our custodian bank. We have the ability to value and acknowledge stock contributions under IRS guidelines, usually within 24 hours of receiving the shares. We also have longstanding relationships with most local trust banks and wealth managers.

It's easy to transfer investments to any fund at Akron Community Foundation. Download our stock transfer instructions, or contact Steve Schloenbach, vice president and chief financial officer, for personal assistance. We will need to know your name, the issue being transferred (company name), the number of shares being transferred, and the name of the charitable fund the contribution will benefit or establish. 

Investments

Akron Community Foundation has one primary goal when it comes to investing: maximizing your philanthropy, both today and for years to come.

Investment guidelines

We take great care to invest your funds wisely, transparently and prudently so they will grow over time and be available for grantmaking next year or next decade.

A board-approved independent investment consultant provides the community foundation with investment oversight and policy recommendations, as well as investment performance benchmark evaluations.

Our investment strategy aims for superior long-term returns with minimal risk. We take our responsibility of preserving the endowment for future generations seriously, and our Finance and Investment Committee is committed to maintaining a diverse, balanced portfolio managed by trusted advisors. The portfolio consists of approximately 60 percent equity investments, 25 percent fixed income and cash investments, and 15 percent alternative investments. Read our investment policy.

Fixed Income Investments

The community foundation’s fixed income investments (bonds rated by Moody’s or S&P investment grade, and cash equivalents) provide a deflation hedge, reduce volatility, and produce current income in support of the foundation's administrative expenses and grant payouts. The community foundation’s goal is to perform at or near the Barclays Aggregate Bond Index. Performance is monitored on a quarterly basis and is evaluated over three- and five-year rolling periods. See our current fixed income relationships.

Equity Investments

The community foundation’s equity investments provide long-term capital growth through investments in securities, common stock and, to a smaller extent, foreign equities. The community foundation seeks to outperform the S&P 500 stock index over a full market cycle. The equity investments are compared to the Mobius Universe equity manager means. Performance is monitored on a quarterly basis and is evaluated over three- and five-year rolling periods. The equity portion of the fund strives to exceed the Consumer Price Index plus 6 percent over three-year rolling periods. Foreign investments never exceed 25 percent of the market value of the total fund.

Alternative Investments

Akron Community Foundation prefers to use a fund-of-fund approach when investing in alternative strategies, focusing on transparency, reporting and liquidity. Alternative investments may include real estate, hedge funds, private equity, managed futures, commodities and other strategies approved by the Finance and Investment Committee.

Investment and Administrative Fees

We assess two fees on our funds. The first is a 1.25 percent (125 basis points) administrative fee that helps offset the costs of operating the fund. This fee is based on each fund’s annual market value and covers services such as grantmaking due diligence, annual audit and tax filing, fund accounting, communications and gift management.

The second fee is an annual investment management fee of approximately .74 percent (74 basis points) charged by the community foundation’s various investment managers and independent consultants.

These fees allow us to provide our fundholders with unparalleled service and fund management. Unlike with private foundations, you do not have to worry about administrative details or paperwork; instead, you can focus on growing your fund and making impactful grants in the community. Support from fees also allows the community foundation to respond to community needs and serve as a resource to donors about the nonprofit community. Please note that fees are assessed at the discretion of the community foundation and may change over time.