The monies received by the Waseca Area Foundation are submitted to the Minnesota Community Foundation who administers and invests them and supplies award amounts annually for WAF disposition.
The Minnesota Community Foundation was established in 1949 as part of the Amherst H. Wilder Foundation. In 1984, Minnesota Community Foundation left the Wilder Foundation to become affiliated with The Saint Paul Foundation.
Minnesota Community Foundation and its affiliate, The Saint Paul Foundation, have formed an investment partnership, the Community Investment Group, to obtain unified professional management of their investments. The primary objective is to preserve the purchasing power of these assests while conducting an ongoing grantmaking program that delivers resources to meet the charitable needs of the community.
The Investment Committee is responsible for establishing the investment policy, developing the investment strategy and continually monitoring investment performance. The Foundation's asset allocation strategy is to invest 42 percent in domestic stocks, 15 percent in international stocks, 25 percent in fixed income securities and 18 percent in alternative investments.
The Foundation develops, receives and administers charitable funds, largely from private sources, and manages these funds for charitable purposes.
Funds currently being managed by the Minnesota Community Foundation for the Waseca Area Foundation.
