Questions for Paul Leblanc

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  • Questions for Paul Leblanc

    Hi Paul,

    As President (or the fellow in charge) of the Chess Foundation of Canada, could you give us a summary of how the foundation has done since you have taken on the role. The stock market has been on a roar...so the numbers should be nice. At Chess'n Math we are more conservative with our investments...if we had someone with your expertise...we would have done much better no doubt.

    Care to share: Value of the Foundation when you took over, Value today...monies in and monies out. Where is the Foundation invested today...or provide a link

    Thanks,

    Larry

  • #2
    Re: Questions for Paul Leblanc

    Originally posted by Larry Bevand View Post
    Hi Paul,

    As President (or the fellow in charge) of the Chess Foundation of Canada, could you give us a summary of how the foundation has done since you have taken on the role. The stock market has been on a roar...so the numbers should be nice. At Chess'n Math we are more conservative with our investments...if we had someone with your expertise...we would have done much better no doubt.

    Care to share: Value of the Foundation when you took over, Value today...monies in and monies out. Where is the Foundation invested today...or provide a link

    Thanks,

    Larry
    Here is what it says about the Foundation in the Handbook (for whatever that is worth):

    1007.

    a) The Treasurer of the fund shall keep all necessary and proper records of all monies collected, of all monies paid out, transactions, investments, collections, disbursements, and all other items pertaining to the fund.

    b) The Board of Trustees shall render a statement as soon as practicable after 30th of April, each year to the Secretary of the Chess Federation of Canada showing the total amount of Trust Fund, the amounts and allocations of specific investments and any other pertinent data, as of April 30th of the year of reporting.
    ...Mike Pence: the Lord of the fly.

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    • #3
      Re: Questions for Paul Leblanc

      I would think that there should be a link to an info page about the Chess Foundation from the CFC main website, but there is not much there except a way to donate... It also seems that the Kalev Pugi fund is a permanent part of the Foundation, so transactions related to that would also be expected in the report...
      ...Mike Pence: the Lord of the fly.

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      • #4
        Re: Questions for Paul Leblanc

        Originally posted by Kerry Liles View Post
        I would think that there should be a link to an info page about the Chess Foundation from the CFC main website, but there is not much there except a way to donate... It also seems that the Kalev Pugi fund is a permanent part of the Foundation, so transactions related to that would also be expected in the report...
        Foundation provided reports to Governors. I think down to where and how much monies were invested.

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        • #5
          Re: Questions for Paul Leblanc

          Sorry to tune in late.

          Every year in June I submit the Foundation annual report to the CFC along with a request to post it on the CFC website.
          I think you would have to dig a bit to find it.
          I would be happy to share this year's report with anyone as soon as it is reviewed by the trustees. Meanwhile, I'll send Larry a copy of last year's report so he can see what we invest in.
          It's not too exciting, basically a portfolio that is about 60% equities and 40% fixed income. The equity component is mostly ETFs and is diversified by sector and geographically. I do very little trading.

          The CFC sells about ten life memberships every year and the revenue goes to the Foundation.
          Income from the Foundation goes to the CFC. Last year we sent in $11,519 of which $923 was for the Pugi Fund.

          The Foundation assets have doubled since 2008 and also paid out all the interest and dividends. I don't claim to have out-performed any benchmarks since, as Larry points out, it has been a rather rosy environment for investments.
          Paul Leblanc
          Treasurer Chess Foundation of Canada

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          • #6
            Re: Questions for Paul Leblanc

            Originally posted by Paul Leblanc View Post
            Every year in June I submit the Foundation annual report to the CFC along with a request to post it on the CFC website.
            I think you would have to dig a bit to find it.
            Every year around this time, it seems nobody can find the financials. :)
            You can find the annual financials for CFC and the Foundation on CFC website:
            About us/ CFC info / Governors letters, exactly where you expect to find it :) :)
            or just click here: http://chess.ca/governors-letters

            The statements for 2017 are not ready yet.

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