Goals:
• Develop a permanent endowment for the community.
• Meet prudent standards in the stewardship of philanthropic assets.
• Promote effective and responsible grant making designed to serve current and future community needs.
• Demonstrate community leadership in identifying problems and designing philanthropic solutions.
• Assist donors in fulfilling their philanthropic goals by providing a variety of philanthropic mechanisms.

Board of Trustees:

The Homer Foundation is overseen by a nine-member, volunteer board of trustees, and administered by an executive director, representing a broad range of expertise in knowing our community's needs.

Connie Alderfer , Connie joined our board in 2005 and presently serves as chairman of the Distributions Committee. She is president of the Alderfer Group, specialists in real estate brokerage, development and design.

Ken Castner, Chair: Ken was instrumental in the formation of the Homer Foundation and has served on the Board since 1991. He also brings his background as a registered investment advisor to the Investment Committee.

Mary Epperson, Secretary/Treasurer: Mary was one of the signers of the Foundation Charter in l99l, and has served on the Board from its inception. Mary additionally serves as Chair of the Finance Committee.

Bonnie Jason: Bonnie joined the board in 2002. She is a former elementary school teacher, still active in the schools as an aide, volunteer and coach. In Bonnie's own words she is, "most importantly, a mom."

Ann Keffer: Ann joined the Board in 1999. Ann is a retired elementary school teacher and has served as Chair of the Distributions Committee.

Buck Laukitis: Buck is a commercial fisherman and president of the North Pacific Fisheries Association. Buck joined the board in 2005 and currently serves on the Investment Committee.

Phil Morris: Phil has been on the Board of Trustees and chaired the Investment Committee since 1991. Phil serves on the Kachemak City Council, currently as mayor. Phil is a former securities broker with over thirty-five years experience to help guide the Investment Committee.

Curt Olson: Curt taught biology for six years and has 30 years experience in financial services. He is retired from Benefit Brokers, which specializes in retirement planning for individuals and businesses.

Carol Swartz: Carol has served on the Board of Trustees since 1991. Carol has been Director of the Kachemak Bay Campus of the Kenai Peninsula College-University of Alaska since 1986.

Susan Cushing: Susan joined the Board in 1995 and served as Chair of the Grants Distribution Committee and Student Philanthropy Committee founder. As a lifelong Alaskan she has worked with Alaska Native youth and presently is a health systems evaluator for the Seldovia Village Tribe Health Center's Cherish The Children planning grant.


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Staff:

Joy Steward, Executive Director: Joy served on the Foundation's Board of Trustees six years prior to becoming the first Director in March of 2000.

Financials:

The Foundation's financial affairs are monitored by the Treasurer and the Finance Committee. The firm of Foster & Company, CPA provides independent accounting services with reports distributed to the board of trustees monthly, quarterly and at year-end. Quarterly reports are mailed to all fund holders and our annual report is distributed widely.

View the foundation's financial statement (Summary of Revenues and Expenses) here.

The Foundation's IRS Form 990 information is available upon request or can be viewed here.

See our Annual Reports for current and past financial statements (Summary of Revenues and Expenses)

Investment Philosophy:

The Investment Committee invests and monitors the Foundation's assets. The committee submits an annual investment plan and reports to the full board of trustees at least quarterly. In addition, the Investment Committee holds a monthly brown bag lunch meeting that is open to the public on the first Friday of the month.

The investment philosophy of the Homer Foundation revolves around four principles:

• Protection of principal
• Growth of portfolio principal to at least match inflation
• Maximize income generation for the purpose of charitable distribution
• Provide portfolio diversification