Multnomah Athletic Foundation Financial Information
The foundation's financial statements are audited annually on a calendar-year basis and are available for review upon request. MAF's endowment funds are invested in a pooled account with Oregon Community Foundation (OCF). The endowment funds in this pooled account are identified as follows:
March 31, 2013
The Foundation Board Endowment Fund: $ 318,594
Supports the foundation's core grantmaking activities (supporting the development of athletes and athletic programs).
Joe Loprinzi Scholarship Fund: $ 626,673
Supports scholarships given to greater-Portland-area graduating high school seniors in need who wish to continue college or vocational pursuits.
James F. and Marion Miller Scholar Athlete Fund: $ 662,070
Supports MAC's annual Scholar Athlete program with scholarships for 26 area high school seniors.
Fay Sasser Scholarship Fund: $ 119,857
Supports educational scholarship awards for eligible MAC employees.
Trustee Endowment Fund: $91,229
Created primarily with funds provided by former MAC trustees. Lorraine Miller served for many years as the executive to MAC's general manager. When the fund reaches $100,000 principal, community support will be provided as then determined by the board.
Mel Fox Memorial Scholarship Fund: $ 36,044
Created in honor of Mel Fox (former MAC general manager), whose coaching roots included a stint at Franklin High School. The fund provides scholarship assistance for a graduating senior at Franklin High School.
Earl and Barbara Repp Memorial Fund: $ 15,338
Established by the Repp family (long-time MAC members). The principal is permanently restricted; investment earnings are available, in the foundation's judgment, to assist high school or college-aged Oregonians (including those individuals physically challenged) participating primarily in golf, swimming, baseball or gymnastics.
TOTAL: $ 1,869,805
OCF's historical annualized performance for 10 years (9.9%) has been better than the median foundation endowment-managed performance. Unless the donor requires a specific allocation, the board allocates contributions from all sources in its discretion.
The foundation's investment committee reviews periodically the need for managed investment alternatives, particularly for purposes of supplemental scholarship funding.
Last Updated: 6/6/2013, 9:35 PM (Lisa Bendt)