FINANCIALS & INVESTMENTS
North Lee Community Foundation is committed to providing responsible stewardship of the funds entrusted to us. North Lee Community Foundation partners with the Keokuk Area Community Foundation to invest donor funds. Brian Jones at Pilot Grove Investment Services and Josh Denning at Ameriprise invest the assets of North Lee Community Foundation. Our Investment Philosophy is to manage these funds with a long-term time horizon to preserve and enhance the value of the initial endowment gift while allowing for an annual distribution to serve current needs.
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North Lee Community Foundation’s long-term investment objective is to achieve a total return in excess of the sum of the distribution rate, the long-term inflation rate, and the aggregate costs of portfolio management. The goal is to earn a return that allows donors to make desired grants while maintaining the endowment’s future giving power. The current target for total return is 7.5% per year.
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​2025 FINANCIALS ​
The Keokuk Area Community Foundation and North Lee Community Foundation manages assets of $36,205,124.90 as of December 31, 2025. During 2025, $2,233,352.93 was contributed by 556 donors/funds. Through the Keokuk Area Community Foundation's grant making programs, scholarships and donor funds, $1,903,622.28 was granted.
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2025 INVESTMENT RETURNS
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Pilot Grove Savings Bank: 11.03%
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Ameriprise: 13.96%
CONTACT US
For more information, please contact us.
Funds at the North Community Foundation are assessed two sets of fees, those for investment management and those for North Lee Community Foundation administrative costs. Investment management fees are those charged by our investment managers and are dependent on the investment portfolio selected. These professional consulting and brokerage fees are allocated pro-rata'd over all funds participating in the portfolios of the North Lee Community Foundation. Administrative fees are based on asset size and fund type.
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