Gloria Rex Promoted to Executive Vice President and CFO

WEST PALM BEACH, FL (November 19, 2014) – Gloria Ortega Rex was recently promoted to Executive Vice President and Chief Financial Officer at the Community Foundation for Palm Beach and Martin Counties. Ms. Rex joined the Foundation in 2004 as the Vice President for Finance and Administration. She provides strategic leadership related to both the day-to-day operations and the financial business decisions of the Foundation. She directs the organization’s finance, treasury, administration, human resources, IT and building operations. She is also a trustee of the Foundation’s sponsored 401(k) retirement plan. Her principal responsibilities include working with financial consultants and the Foundation’s Investment Committee to invest and administer the organization’s $144 million endowment. Ms. Rex also supports the development team and shares responsibility for the Foundation’s achievement of asset growth goals.

“Gloria’s contributions to the Community Foundation over the last decade are immeasurable,” said J.B. Murray, board chair. “The goal of a community foundation is to ensure that the charitable dollars entrusted to the organization are available to the community forever. Gloria firmly believes in this mission. She is the driving force behind the prudent stewardship of the Foundation’s nearly 300 charitable funds established by local individuals, families, businesses and nonprofits, and $170 million in assets. She strives to maximize the available grant dollars for each fund while ensuring that the Foundation serves as a permanent philanthropic resource for our two-county region.”

Ms. Rex works closely with the Foundation’s Finance, Investment and Audit committees, and oversees the independent consulting firm to ensure the investment policy, benchmarks and performance is met. She also oversees the Foundation’s independent auditors to ensure rigorous financial controls and high administrative standards. Under her leadership, the Foundation has adopted an investment strategy that emphasizes broad diversification and consistency of returns. During Ms. Rex’s 10-year tenure at the Foundation, the organization’s endowment has grown from $67 million to $144 million – more than doubling. In the last year alone (2013-2014), the endowment grew by $20 million. This endowment is made up of charitable funds that will be available to the community in perpetuity.

In Feb. 2013, Ms. Rex was named interim president and CEO of the Foundation, serving in a dual role for nearly eight months during the national search and interview process for a new president.

Prior to joining the Community Foundation, Ms. Rex served as Vice President of Finance and Strategic Planning and CFO at the National Golf Foundation, Inc. & Subsidiaries for 13 years. She is a certified public accountant and has held positions with First Federal Savings and Loan, Royal Palm Federal Savings and Loan, Coopers & Lybrand and RCA Service Company.  She has a master’s of Business Administration from Florida Atlantic University and a bachelor’s of Science from University of Florida.  In 2012, she completed the Certified Financial Planner Professional Certificate Program at Florida Atlantic University. She is actively involved with the Florida Institute of CPAs, AICPA, Palm Beach Tax Institute, East Coast Estate Planning Council and the Gold Coast Chapter of the Financial Planning Association.

For more information, visit www.yourcommunityfoundation.org.

 

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ABOUT THE COMMUNITY FOUNDATION: The Community Foundation for Palm Beach and Martin Counties is one of Florida’s largest community foundations. The nonprofit organization has invested $110 million in grants and scholarships over its 40-year history. At its core, the Community Foundation is an organization created with gifts from generous people committed to local causes. For donors, the Foundation serves as a philanthropic advisor and partner. For the community, the Foundation serves as a grant maker and a civic leader. Through the support of its donors and fund holders, the Foundation has been able to address some of the community’s most pressing needs, including hunger, housing and education. For more information, visit www.yourcommunityfoundation.org


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