Financials
This information is summarized from the financial statements prepared by the management of the Community Foundation of West Texas. The Foundation maintains a system of internal accounting controls designed to provide responsible assurance that transactions are properly executed and recorded in all material respects, assets are safeguarded and established policies and procedures are carefully followed. The public accounting firm of Bolinger, Segars, Gilbert & Moss, L.L.P. will audit the Foundation’s financial statements and additional related information. Upon completion, the 2023 audited financial statements will be made available by request and will also be available for viewing online at www.cfwtx.org.
Investment Management
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The prudent investment of assets is central to the Foundation’s responsibilities. Our reputation and capacity for serving the community is directly tied to our ability to conserve capital and secure the best possible return. Endowment funds exist to provide perpetual resources for charitable purposes. As a result, investment decisions are conservative. To meet our investment objectives, the Foundation follows a strategy focusing on long-term total return. Investments are diversified to avoid any single security or class of securities having a disproportionate impact on the total portfolio.