The primary objective for the investments of the Wayne County Community Foundation is the preservation of capital while providing for the long-term growth of principal without undue exposure to risk.

The responsibility of the Wayne County Community Foundation's Trustees through its Investment Committee is to establish broad guidelines for the Foundation's funds, recommend investment managers, determine or approve asset allocation, and to monitor performance of investment managers on a regular basis. The investment managers are responsible for optimizing the return on the assets within the guidelines that have been established.

The Foundation Funds are permanent funds with disciplined investment objectives and consistent management strategies that can accommodate any relevant, reasonable, or probable events.

The purpose of this investment policy statement is to establish a clear understanding of the investment objectives of the Wayne County Community Foundation and will be utilized by the Wayne County Community Foundation in monitoring the investment performance on a continuing basis.

The Wayne County Community Foundation recognizes the importance of sound fiduciary practices in the management of the funds as pertains to this Investment Policy Statement. The generally accepted definition of a fiduciary is defined as anyone acting in a position of trust on behalf of, or for the benefit, of another.

Fiduciaries of the Wayne County Community Foundation have a mandate to manage the investment practices and process, without which other components of the investment plan can be neither defined, implemented or evaluated. Additionally, this policy recognizes a fiduciary demonstrates prudence by the process through which investment decisions are managed, rather than by showing that investment products and techniques are chosen because they are labeled as "prudent".

The Wayne County Community Foundation recognizes the following Uniform Standards of Care:

1. Know standards, laws and trust provisions.
2. Diversify assets to specific risk/return profile for the funds.
3. Prepare a detailed, written investment policy statement.
4. Use "prudent experts" and document due diligence.
5. Control and account for all investment related expenses.
6. Monitor the activities of "prudent experts".
7. Avoid all conflicts of interest and prohibited transactions.

The objectives shall be accomplished by managing a diversified portfolio of assets to include fixed income, equities, alternative investments, and cash equivalents; in a mix which is conducive to participation in a rising market while allowing for adequate protection in a falling market.

A copy of the WCCF Investment Policy Guidelines is available by contacting our office at 330-262-3877.

The Wayne County Community Foundation's targeted asset allocation as of June 2010 is depicted below:

The WCCF retains Legacy Strategic Asset Management to advise us regarding our asset allocation strategy and choice of portfolio managers. Working in collaboration with our custodial bank, FirstMerit Bank, N.A., the trustees are pleased to report the below investment results:

The above investment performance is net of all investment fees.