There are four funds held within the Foundation
The Foundation follows the restricted method of accounting for contributions. There are four funds within the Foundation.
There is a general fund which records the overall program and administrative activities of the Foundation as well as receives and distributes any unrestricted contributions.
In addition, there are three restricted funds to be used for three (3) specific purposes as defined by the original contributors.
These restricted funds are the Hugh Pomeroy Memorial Scholarship Fund; the Wendy Buda Memorial Scholarship Fund; and the Don Nordgren Bequest.
Administrative costs to manage the Foundation are borne by the CSA with only annual Audit fees, as required by the Federal Government incurred as an Administrative Expense.
All funds are held in trust by Vertex One Asset Management with a small amount held in an interest bearing bank account.