<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
{mso-style-priority:99;
mso-style-link:"Balloon Text Char";
margin:0in;
margin-bottom:.0001pt;
font-size:8.0pt;
font-family:"Tahoma","sans-serif";}
p.msonormal0, li.msonormal0, div.msonormal0
{mso-style-name:msonormal;
mso-margin-top-alt:auto;
margin-right:0in;
mso-margin-bottom-alt:auto;
margin-left:0in;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
span.EmailStyle18
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.BalloonTextChar
{mso-style-name:"Balloon Text Char";
mso-style-priority:99;
mso-style-link:"Balloon Text";
font-family:"Tahoma","sans-serif";}
span.EmailStyle21
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<div class="WordSection1">
<p class="MsoNormal"><span style="color:#1F497D">Only a very general statement should be in the
<u>bylaws</u> stating the organization could invest. The specifics should be in policies and procedures. You might also post the question to the Main Street America Network if you need additional examples.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> OMS_MANAGERS [mailto:oms_managers-bounces@listsmart.osl.state.or.us]
<b>On Behalf Of </b>Sarah Lu Heath<br>
<b>Sent:</b> Thursday, March 01, 2018 8:11 AM<br>
<b>To:</b> Oregon Main Street program managers<br>
<b>Subject:</b> Re: [OMS_MANAGERS] Investing<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="_MailEndCompose">We’re looking for the bylaws regarding investing – sorry if I wasn’t clear in my original email.
<o:p></o:p></a></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Jonathan, would you be willing to ask to share the bylaws/policy/procedures that organization uses regarding investments?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Sarah Lu Heath<o:p></o:p></p>
<p class="MsoNormal">Executive Director<o:p></o:p></p>
<p class="MsoNormal">Astoria Downtown Historic District Association<o:p></o:p></p>
<p class="MsoNormal">No.1-12<sup>th</sup> Street, Suite 114<o:p></o:p></p>
<p class="MsoNormal">PO Box 261 <o:p></o:p></p>
<p class="MsoNormal">Astoria, OR 97103<o:p></o:p></p>
<p class="MsoNormal">503.791.7940<o:p></o:p></p>
<p class="MsoNormal"><a href="http://www.astoriadowntown.com/"><span style="color:#0563C1">www.AstoriaDowntown.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>From:</b> OMS_MANAGERS [<a href="mailto:oms_managers-bounces@listsmart.osl.state.or.us">mailto:oms_managers-bounces@listsmart.osl.state.or.us</a>]
<b>On Behalf Of </b>Jonathan Stone<br>
<b>Sent:</b> Wednesday, February 28, 2018 9:13 PM<br>
<b>To:</b> Oregon Main Street program managers <<a href="mailto:oms_managers@listsmart.osl.state.or.us">oms_managers@listsmart.osl.state.or.us</a>><br>
<b>Subject:</b> Re: [OMS_MANAGERS] Investing<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">How much are you looking to invest? You should keep everything above a rainy day reserve in savings. You can put the rest in a CD. I am on the board of an organization that has a couple hundred thousand in savings. That account earns .75%
per year. Additional assets are saved in a CDARS account. <o:p></o:p></p>
<div>
<div>
<p class="MsoNormal">On Tue, Feb 27, 2018 at 8:30 AM Sarah Lu Heath <<a href="mailto:sarah@astoriadowntown.com">sarah@astoriadowntown.com</a>> wrote:<o:p></o:p></p>
</div>
<blockquote style="border:none;border-left:solid #CCCCCC 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt">
<p class="MsoNormal">THANKS!<br>
<br>
Liquidity is obviously a concern - do you know of a standard formula for how much to keep in cash, short-term investments, and long-term investments?<br>
<br>
Sarah Lu Heath<br>
Executive Director<br>
Astoria Downtown Historic District Association<br>
<a href="https://maps.google.com/?q=No.1-12th+Street,+Suite+114&entry=gmail&source=g">No.1-12th Street, Suite 114</a><br>
PO Box 261<br>
Astoria, OR 97103<br>
503.791.7940<br>
<a href="http://www.AstoriaDowntown.com" target="_blank">www.AstoriaDowntown.com</a><br>
<br>
-----Original Message-----<br>
From: OMS_MANAGERS [mailto:<a href="mailto:oms_managers-bounces@listsmart.osl.state.or.us" target="_blank">oms_managers-bounces@listsmart.osl.state.or.us</a>] On Behalf Of Paul M Cohen<br>
Sent: Monday, February 26, 2018 3:38 PM<br>
To: 'Oregon Main Street program managers' <<a href="mailto:oms_managers@listsmart.osl.state.or.us" target="_blank">oms_managers@listsmart.osl.state.or.us</a>><br>
Subject: Re: [OMS_MANAGERS] Investing<br>
<br>
The Beaverton Downtown Association does not do this but other 501 organizations I work with do but only with very safe investments or guaranteed investments which today typically pay <1% for short term and less that 3% for 10 year investments. You also have
to be careful if you have more than ~$250K at any one bank because anything over that is not federally insured unless you take special measures.<br>
<br>
In long past years when short term rates were 5% and long term over 10% and inflation was significant, investing was standard practice; as interest rates and CPI dropped investing to earn more has become more difficult and risky. Also if you do invest Reserve
Funds for > 1 year and you run into an emergency you have a problem.<br>
<br>
Today non-profits I work with are earning .5% on our reserve funds but we have complete access to them, at least 1 is looking into a 1 year Federally Insured CD at 2.5%, 5 year CD's today are also paying 2.5%. Rates quotes are from Google and typical of what
may be available.<br>
<br>
-----Original Message-----<br>
From: OMS_MANAGERS [mailto:<a href="mailto:oms_managers-bounces@listsmart.osl.state.or.us" target="_blank">oms_managers-bounces@listsmart.osl.state.or.us</a>]<br>
On Behalf Of Sarah Lu Heath<br>
Sent: Monday, February 26, 2018 1:18 PM<br>
To: Oregon Main Street program managers<br>
<<a href="mailto:oms_managers@listsmart.osl.state.or.us" target="_blank">oms_managers@listsmart.osl.state.or.us</a>><br>
Subject: [OMS_MANAGERS] Investing<br>
<br>
Hi All,<br>
<br>
Do any of your organization invest your reserve funds? We're looking at getting our money to earn more money, but would like to avoid reinventing the wheel, with guidelines/bylaws/regulations.<br>
<br>
Any advice is appreciated - any documents would be huge!<br>
<br>
Thanks,<br>
Sarah Lu<br>
<br>
Sarah Lu Heath<br>
Executive Director<br>
Astoria Downtown Historic District Association <a href="https://maps.google.com/?q=No.1-12th+Street,+Suite+114&entry=gmail&source=g">
No.1-12th Street, Suite 114</a> PO Box 261 Astoria, OR 97103<br>
503.791.7940<br>
<a href="http://www.AstoriaDowntown.com" target="_blank">www.AstoriaDowntown.com</a><br>
<br>
_______________________________________________<br>
OMS_MANAGERS mailing list<br>
<a href="mailto:OMS_MANAGERS@listsmart.osl.state.or.us" target="_blank">OMS_MANAGERS@listsmart.osl.state.or.us</a><br>
<a href="http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers" target="_blank">http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers</a><br>
Hosted by the State Library of Oregon. The Library is not responsible for content.<br>
<br>
Questions related to message content should be directed to the sender of the message, by phone or email.<br>
Technical questions? Call 503-378-8800.<br>
<br>
_______________________________________________<br>
OMS_MANAGERS mailing list<br>
<a href="mailto:OMS_MANAGERS@listsmart.osl.state.or.us" target="_blank">OMS_MANAGERS@listsmart.osl.state.or.us</a><br>
<a href="http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers" target="_blank">http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers</a><br>
Hosted by the State Library of Oregon. The Library is not responsible for content.<br>
<br>
Questions related to message content should be directed to the sender of the message, by phone or email.<br>
Technical questions? Call 503-378-8800.<br>
_______________________________________________<br>
OMS_MANAGERS mailing list<br>
<a href="mailto:OMS_MANAGERS@listsmart.osl.state.or.us" target="_blank">OMS_MANAGERS@listsmart.osl.state.or.us</a><br>
<a href="http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers" target="_blank">http://listsmart.osl.state.or.us/mailman/listinfo/oms_managers</a><br>
Hosted by the State Library of Oregon. The Library is not responsible for content.<br>
<br>
Questions related to message content should be directed to the sender of the message, by phone or email.<br>
Technical questions? Call 503-378-8800.<o:p></o:p></p>
</blockquote>
</div>
<p class="MsoNormal">-- <o:p></o:p></p>
<div>
<p class="MsoNormal">Jonathan Stone<br>
Sent from my iPhone<o:p></o:p></p>
</div>
</div>
</body>
</html>