PROFILES IN SCOUTING

The Trust Advisory Committee

Bob Lannert
Chairman, Trust Advisory Committee

Who is responsible for managing the Des Plaines Valley Councils money? The answer is the Trust Advisory Committee.

The Trust Advisory Committee is responsible for our Council’s Endowment Trust. The BSA National Organization recommends that all Councils develop an Endowment Trust to help meet their operating expenses. The objective of the Des Plaines Valley Council Endowment Trust is:

Preserve the Trust’s principal over time in “real dollar” purchasing power, after annual income distributions and costs of management are satisfied.

As a Council we are very fortunate that many generous people and organizations have contributed to our Endowment Trust. Additionally, we have a very talented and capable team serving on our Trust Advisory Committee including former Vice President for Finance of the DPVC Board Chuck Smith, DPVC Scout Executive Irene Szinavel, and Committee Chairman Bob Lannert. The committee members are chosen for their experience with managing money and serve at the pleasure of the Council Executive Board. For example, Bob Lannert is Vice Chairman and former Chief Financial Officer of the Warrenville based Navistar Corporation and was our Council President for five years. He is also a long-time Scouter and volunteer with our Council who knows its operations and issues in depth. He reflects the perfect blend of financial background and familiarity with our Council that his role requires.

Chuck Smith said of him, “Bob Lannert has a wealth of knowledge and experience in investments as he is responsible for management of many millions of dollars in pension and retirement funds in his employment. He has access to information on the markets and investment performance that is extraordinary. This, along with his wisdom and understanding of the financial needs of the Council, makes him a great asset. We are exceptionally fortunate to have his help in overseeing the investment of the Council’s Endowment Funds.”

The Trust Advisory Committee is responsible for choosing the Trustee for our Endowment Trust. The current Trustee if JPMorgan – Chase which invests and manages the assets of the Trust. JPMorgan Chase & Company is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. The selection of this firm to assist the Council in its financial management of its assets reflects the knowledge, experience, and expertise of our committee.

With the recent sale of Camp Tomo Chi Chi Knolls, the committee has been working diligently to insure that the sale proceeds are invested properly and yielding a good return. The committee receives monthly reports from JPMorgan on the performance of the fund and meets periodically to review performance of the fund. Additionally, the committee reports to the Council Executive Board on its activities.

The Trust Advisory Committee is one of many Council committees working behind the scenes handling the business aspects of our Scouting program.

This is the official site of the Des Plaines Valley Council, Boy Scouts of America

This page was last modified on Thursday, August 2, 2007 @ 09:00pm