COMMITTEE CHARTER FOR THE INVESTMENT COMMITTEE Mission Statement The Investment Committee will assist the Board of Trustees in fulfilling its oversight responsibility for the investment assets of the foundation exclusive of the invested portion of the MRI Endowment, as defined below (the “Endowment”). The committee monitors the management of the Endowment for compliance with the foundation’s investment policies and guidelines. The committee also tracks the foundation’s compliance with performance objectives over time. Roles and Responsibilities The committee shall: a. Set the overall investment policies of the foundation subject to board approval; and establish investment guidelines for the Endowment, including the Endowment Policy Portfolio, regarding asset classes, asset allocation ranges and prohibited investments. The committee shall inform the board periodically of changes made to the investment guidelines for the Endowment. b. Approve the investment guidelines established by the Mission-Related Investment Committee for the portion of the foundation’s investment assets carved out to be invested in such a manner as to deliver significant mission impacts (the “MRI Endowment”), including the MRI Policy Portfolio, regarding asset classes, asset allocation ranges and prohibited investments. c. Oversee investment and reinvestment of the Endowment. The committee may delegate investment functions to officers and employees of the foundation and to external investment managers. d. Monitor the management of the Endowment by reviewing written reports from investment staff and by discussions with investment staff at committee meetings that focus on the primary determinants of returns, including asset allocation and investment strategy. e. Evaluate investment performance of the Endowment based on a comparison of actual returns with the foundation’s absolute return objective, and with such
other benchmarks as the board or committee may from time to time select. The evaluation will take into account compliance with investment policies and guidelines and risk levels. f. Determine the annual incentive compensation pool, if any, for professional investment staff based on the recommendation of the president and in accordance with the foundation’s Investment Division Incentive Award Plan.
Approved as of February 16, 2017