Financial Statements

As a 501(c)3 charitable organization and a recognized community foundation, The Luzerne Foundation files annual 990 forms with the Internal Revenue Service. The foundation's latest filed form is available below. Prior forms are available for public inspection at The Foundation offices.

Fund Managers

Berkshire Asset Management | 46 Public Square, Suite 700 | Wilkes-Barre, PA 18701

PNC Institutional Investments | 201 Penn Avenue | Scranton, PA 18503

Morgan Stanley Smith Barney | 1065 Highway 315 | Wilkes-Barre, PA 18702

M & T Investment Group | 15 South Franklin Street | First Floor Rosenn Building | Wilkes-Barre, PA 18711

Fees
There is no charge for establishing a fund at The Luzerne Foundation. Generally, funds managed by the Foundation experience two types of expense, which are taken from a fund's principal account.

As a participant in our combined managed general endowment portfolio, a fund qualifies for the lowest available investment management fees paid directly to the professional money managers retained by The Luzerne Foundation. The current aggregate investment management fee is just under 0.50% (50 basis points) annualized. This fee applies to funds currently placed at M&T Bank, Smith Barney Group and Berkshire Asset Management.

In addition, The Luzerne Foundation automatically accepts an annual community participation contribution in lieu of an administrative fee. This required contribution may vary depending on the size and type of fund established. The current requested contribution for all endowment funds is 0.50% (50 basis points) annualized. Please note: this contribution allows the Foundation not only to assist you and administer all aspects of your fund, but also to fulfill its broader mission as a community resource and facilitator to help improve this community for all.

Therefore, the total fees from all sources for an endowment fund at The Luzerne Foundation is approximately 1.0% annualized.

• Luzerne Foundation 990 Form - 2010 Public Inspection Copy (PDF)
• Luzerne Foundation 990 Form - 2009 Public Inspection Copy (PDF)
• Asset Allocation(PDF)
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