TEAM Reserve Fund
Est. 2013 as a revocable organization fund by a transfer of assets.
Best practices for nonprofits span everything from having effective input from a diverse and engaged Board to hiring enthusiastic and qualified staff that is able to help the organization carry out its mission. One part of this equation also includes an organization's ability to sustain itself during a challenging economic period by having a reserve account available for use.
"Throughout the past 20 years, TEAM, Inc. in Derby has been slowly and steadily developing its own reserve account, and has chosen VCF to administer this account by creating the TEAM Reserve Fund at the Foundation," said TEAM President Richard Knoll. "We had been exploring investment options for this fund for several years, and asked VCF's President Sharon Closius to come and make a presentation to the Board," said Richard. "She articulated how the Fund would work, and was able to answer the questions we had. She clearly stated that past results are not indicative of future performance. Our Board and staff further examined all the benefits and risks, and determined that VCF was the best partner for us."
VCF's funds are invested with The Community Foundation for Greater New Haven , which has more than $500 million in charitable assets, and operates a very diversified and long-term approach to funds' management. The assets are managed with a "total return approach" to generate enough current distributable revenue to respond to charitable needs, while providing for long term growth.
"We, as an organization, do not have the charitable investment management expertise - but The Community Foundation for Greater New Haven truly does. The fees are low, we have the ability to access our Fund as we need, and the fact that VCF is local were all key factors in our decision making process," said Richard.
The TEAM Reserve Fund at VCF not only prudently manages invested charitable dollars but also provides a stable and predictable source of funding in times of need for this organization.