At the end of the 2014 calendar year, the Edward Mallinckrodt, Jr. Foundation had a corpus of $47 million dollars. Financial details are available on the web by searching its 1099s. An investment subcommittee of the Foundation is responsible for the stewardship of the endowment. Their goal is to grow the endowment to further the philanthropic mission of the Foundation. Recently the Trustees moved from their coordination of several fund managers to a single "manager of managers" concept which has decreased the investment expenses and diversified the investment portfolio.
The Board is committed to maximizing our spending on our mission. We currently spend approximately 6% of assets on an annual basis averaged over three years. Concomitantly, the Board strives to limit administrative expenses by having an all-volunteer board, a single outstanding staff person, and discerningly outsourcing its accounting responsibilities and investment management efforts.
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