In November 2015, the Foundation Board of Directors voted to earmark $15 million of the restitution funds as an endowment with a long-term investment strategy and to spend up to $54 million on strategic projects over the next seven to ten years. 

In the first quarter of 2016, after receiving proposals from 17 investment firms and conducting a thorough review process, the Board selected Sand Hill Global Advisors, LLC (SHGA) to serve as the Foundation's investment adviser.  

In April 2016, the Board and the San Bruno City Council approved the Foundation's Investment Policy Statement, which serves as the high-level policy document governing the Foundation’s investment practices.  The Investment Policy Statement:

• Outlines the purpose and goals of the Foundation’s investment portfolio, including three separate pools of funds

• Defines the roles and responsibilities for the Foundation’s Board of Directors, Investment Committee, External Investment Manager, and the San Bruno City Council

• Sets investment goals, objectives, and target asset allocations for each pool of funds

• Establishes asset guidelines and investment procedures

• Outlines the spending

• Establishes guidelines to monitor performance 

• Provides continuity across changes in the Board of Directors, Investment Committee, and Foundation staff