Worcester Trust Fund Commission Elects New Chair

Other Committee · Meeting of August 21, 2026

WORCESTER — The Worcester Trust Fund Commission elected a new chair and began sorting a decade of dormant charitable trusts into a more growth-oriented investment pool. Bartholomew & Company advisors Brian Jamrose and Kathleen Saganowicz reported the city's trust portfolio hit $19,178,813.71 through June 30, a 13.23 percent one-year return and 6.64 percent annualized since 2017. Commissioners Mallory Shelley, Shepard Allen and Jared Madison voted yes to seat a new chair after predecessor "Paul" departed in April.

The panel reviewed trusts untouched for 10 years, including the Dr. Albert Wood, Ellen Hayden and Israel Katz funds, and the Victor Edwards Fund's $48,775.93 in available earnings. Madison proposed a "graduated approach, so we're not painting with a very large brush." No funds were reallocated; Chief Financial Officer Tim McGurthy will draft options ahead of a future meeting.

In the full story:

• Call to Order, Roll Call and a New Chair
• Approval of April Minutes
• Bartholomew & Company Mid-Year Investment Report
• Weighing a Two-Bucket Strategy for Stagnant Trust Funds
• Group 1: The Worcester City Hospital Trusts
• Group 2: Larger and More Active Trust Pools
• [00:59:13] — Commissioner Jared Madison
• Investment Policy Statement and Next Steps
• Adjournment
• Who Was There
• Organizations And Documents Referenced
• The complete report: 2,343 words

Source: the Other Committee meeting of August 21, 2026, reported from the official video recording and transcript.

Checked against the record: before publication this article was automatically compared with the meeting transcript.