Foundation investment report shows fund gains; board clarifies park funding sources

Trustees received an update on the Topeka Public Schools Foundation endowment and its use to support Hummer Sports Park improvements. Barbara Duncan of Clayton Wealth Partners summarized the fund’s recent performance: year‑to‑date returns through October were about 14%, three‑year annualized returns about 14% and the ten‑year average roughly 8.5%.

Duncan said the fund has been used for park improvements, consistent with its purpose. Jim Walden, the firm’s chief investment officer, described the macroeconomic backdrop, noted the potential effects of artificial intelligence on investment flows, and said the firm favors diversification. "If we are in [an AI stock] bubble, we are probably in the early stages," Walden said, adding that portfolios include nontech, international and fixed‑income exposure.

During Q&A, trustees asked whether the sports park itself produces income. District staff and foundation representatives explained that the foundation’s portfolio generates investment returns that can be requested for park maintenance (the foundation typically allows a 5% annual distribution of gross fund value), while gate receipts and other operational revenues flow into district operational funds separately. The Hummer family and other early donors provided seed capital for the foundation when the sports park launched in 2003, presenters said, and some large one‑time projects (for example, a $1,600,000 replacement track and parking project about a year and a half ago) were funded from donations and permitted foundation distributions.

The board did not change policy or approve additional funding at the meeting. Trustees thanked the presenters and requested clarifications about which funds are used for maintenance versus operational expenses, and staff said they would continue to report on the matter.