Yes, the Foundation has hired a custodian that uses an accounting system that holds separate fund balances and income balances for each sub-account that you designate. For example, you may hold funds for specific missions, or for scholarships. The accounting system keeps track of those funds, and distributions from those funds, so that you can honor the commitment made to the donor establishing that specific purpose. The accounting system used by the custodian generates a separate report showing total distributions, additions, earnings and funds balances. These statements can be mailed on a monthly, quarterly, semi-annual or annual basis.
Normal distribution is quarterly.
The investment committee of the Foudnation worked with The Trust Company to develop five fund models to meet a range of investment objectives from money market funds to highly equity-oriented funds. The investment committee monitors performance of these funds on a regular basis and makes adjustments to the models as market conditions indicate a need for change. You should select a model based on your income needs, the life span of the fund you're investing, and your tolerance for risk. A Foundation employee, or a Trust Company employee, will work with you to assign your various accounts to the appropriate investment model. Yes, you can add funds to existing accounts or create new accounts at any time.