Nonprofit watchdog Charity Navigator has awarded us its coveted 4-star rating for demonstrating strong financial health and commitment to accountability and transparency.
Charity Navigator’s award letter states: “Based on the most recent information available, we have issued a new rating for your organization. We are proud to announce that the Independent Catholic Foundation for the Diocese of Altoona-Johnstown has earned our eighth consecutive 4-star rating. This is our highest possible rating and indicates that your organization adheres to sector best practices and executes its mission in a financially efficient way. Attaining a 4-star rating verifies that you exceed industry standards and outperforms most charities in your area of work. Only 4% of the charities we evaluate have received at least 8 consecutive 4-star evaluations, indicating that you outperform most other charities in America. This exceptional designation from Charity Navigator sets Independent Catholic Foundation for the Diocese of Altoona-Johnstown apart from its peers and demonstrates to the public its trustworthiness.”
To access the Independent Catholic Foundation’s Charity Navigator profile, please click on the 4-Star logo at the bottom of this page.
Investment & Finance Committee
The Foundation’s Investment & Finance Committee, whose members have professional financial and investment experience, oversees the management of Foundation’s investment portfolio. While the investment manager’s primary objectives are to provide protection of principal and reasonable income and capital growth, it is clear that a growing asset base generates growing future income. This objective is pursued as a long-term goal for maximum reward without exposure to undue risk.
The Investment & Finance Committee reviews the manager’s performance quarterly and reviews achievement of objectives and adherence to policy annually.