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INVESTMENT POLICY


The investment objectives of UM-CAC, in order of importance, shall be the safety
of principal, liquidity, and a competitive rate of return.


General Investment Guidelines

UM-CAC's Finance Committee shall have primary responsibility for the
administration of the investment policy and for establishing any specific
guidelines as to the mix and quality of the investment account(s).

Key Issues To Consider When Developing Investment Policies

These are the guidelines we will use when we gain funds requiring investment
policies be developed.


Delegation of Responsibility

* Should define who is responsible and what they are responsible for

* Should include internal groups/individuals, i.e., Board of Directors, Treasurer,
Finance Committee, and may include staff

* Should also include external groups such as investment managers, Credit Union
custodians and investment consultants.


Determining Mix and Quality of Investments

* Need to determine organization's ability to assume risk (Risk Tolerance)

* Need to determine the organization's attitude and expectations about investing
(Risk Preference)

* (The Risk Tolerance and Risk Preference should be compatible with each other to
ensure long-term continuity in the investment program.)

* Need to establish an investment time horizon - the amount of time you are
willing to set aside for an investment to meet your objectives.

* Any investment restrictions should be explicitly stated in the Policy Statement.
Investment restrictions often deal with issues related to prohibited securities,
quality, diversification requirements, or social issues.

The amount of risk the organization is willing to assume will determine what
types of investments are available to the organization. In order to reduce
the overall risk, an organization may consider a mix of investments, which may
include fixed-income investments (low risk/lower returns) with some equity
investments (investments with higher returns accompanied by higher risks).

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Uptown Multi-Cultural Art Center (UM-CAC). Click here for contact Info or to E-mail UM-CAC at umcac@art-teez.org click here. Ph.773/561-7676

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