With the recent fall of the stock market I thought I would bring the Club up to date on the status of the charitable fund. As of May 31, 2020, the balance in the charitable fund's investment account was $279,998.14 and the checking account balance was $26,191.67 for a total of $306,189.81.
At the top of the market in February 2020, the investment account was valued at approximately $302,000. At the low point it had dropped 16%.Presently, it is seven percent down from the top of the market.As of May 29, the Dow Jones was about 14% down from its high in February. The fund is doing better than the Dow Jones.
At a recent Friday meeting, Buzz Law, the fund’s investment advisor and former Dunwoody Rotarian provided some interesting numbers. Since 2014, we have deposited $1,080,576 into the fund but spent $1,238,230 which means we have spent $157,654 more than we put into the account. Due to our investment gains and reduction in our spending in the last few years we have a charitable fund that has sufficient assets to provide for our needs even in a bear market.
Carter L. Stout
Chair, Trustees of the Rotary Club of Dunwoody Charitable Fund