Foundation Giving and The Economy
What impact has "The Great Recession" had on the Geneseo Foundation's ability to enhance the quality of life for citizens of Geneseo and the surrounding area? The short answer is simply, none. The Geneseo Foundation is on pace to payout over $300,000.00 in grants again this fiscal year.
The Central Bank Illinois Trust Division manages the investments for The Geneseo Foundation. As a fiduciary, Central Bank is held accountable to the highest standards under The Uniform Prudent Investor Act. Central Bank implements the investment approach referred to as Modern Portfolio Theory, which requires strict discipline with respect to the diversification of assets. This investment process has allowed the Geneseo Foundation to maintain their level of support for worthwhile projects and organizations in our community.
The Board of Managers carefully evaluates grant applications, considering the support to non-profit organizations and the geographic areas served. This responsibility has taken on an even higher degree of importance during these turbulent economic times. The needs of our local charitable and non-profit organizations continually change. The Geneseo Foundation remains a strong viable resource for local charitable organizations by adhering to a disciplined investment policy. The Foundation's Board of Managers continues to honor the values and causes established by George B. Dedrick's original gift.