Investment Policy

The Foundation holds endowment funds for investment.

Until such time as net assets exceed $500,000 the Foundation shall invest its funds as follows:

  1. There must be minimal risk to principal.
  2. Investments shall not have a maturity exceeding 10 years.
  3. Any single GIC shall not be more than $35,000.
  4. Investments shall be restricted to interest bearing financial instruments.
  5. Bond purchases shall be restricted to bonds issued by Federal, Provincial or Municipal governments or agencies of these governments or to corporate bonds rated AA or better.
  6. Local investing will be supported if possible.
  7. The Foundation shall at all times strive to maximize returns on its investments in GIC’s staggering maturities if possible.
  8. This policy shall be reviewed at least annually by the Foundation Board.
  9. The Board of Directors must confirm or amend this policy annually by motion in the minutes of a Directors’ meeting.
  10. This policy is effective as ((date approved)) and shall remain in effect until otherwise amended or terminated pursuant to a Board of Directors resolution.