Investments and Financial Information

Thoughtful stewardship of The Community Foundation’s assets is a critical responsibility of the board of directors. The investment program uses multiple levels of oversight to manage assets for the benefit of Western North Carolina.

The Foundation’s Investment Committee

Local professionals with investment and financial expertise, have responsibility for all aspects of investment activities, including investment policy, asset allocation and performance review.

An investment consulting firm strengthens and informs the work of the Investment Committee through analytical studies, manager searches and performance data compilation. Multiple investment managers provide value to the Foundation’s investment process through the application of their knowledge and experience in portfolio management.

The Foundation’s goal is to achieve a rate of return sufficient to address the charitable priorities of our funds and fundholders, while not exposing assets to undue risk of significant capital depreciation.

Performance goals for investments

  • In relative terms, the Foundation’s investments should outperform an appropriate composite of the major indices (S&P 500, Barclay’s Aggregate Bond Index, etc.)
  • Equity investment should earn over time an annualized real rate of return of at least 6%. (Consumer Price Index + 6%)
  • Fixed income investments should earn over time an annualized real rate of return of at least 2.5% (Consumer Price Index + 2.5%)

The Community Foundation allows fundholders to recommend from among multiple portfolios, each under the oversight of the Investment Committee. For funds not otherwise recommended by donors, the Foundation invests in a broadly diversified portfolio that provides strategic allocations to equity investments, fixed income investments and alternative investments.

Contact Graham Keever for more information about the Foundation's investments.

Investment Performance Information as of December 31, 2019 Reported Net of Investment Expenses

1 Year3 Years5 Years10 Years
All CFWNC Investments 17.0% 7.6% 5.5% 6.9%

Accounts Managed by CFWNC Investment Committee

1 Year 3 Years 5 Years 10 Years
Multi-Manager Fund 15.9% 7.1% 5.3% 6.7%
Socially Responsible Fund 19.9% 8.9% 5.9% 7.2%
Passive Investment Portfolio 20.2% 9.7% 7.2% 8.4%
American Funds 18.4% 9.4% 6.7% 7.6%
Charitable Trust Pool 16.6% 7.1% 4.8% 6.1%
Conservative Allocation 13.1% 5.5% 3.9% 5.1%

Donor Directed Investment Managers

1 Year 3 Years 5 Years 10 Years
Altamont Capital Management 16.7% 6.8% 5.4% 7.5%
Altavista Wealth Management 19.2% 9.1% 6.3% 7.3%
Boys Arnold & Co. 19.2%
8.0% 5.7% 6.8%
Colton Groome & Co. 19.2% 8.7% 6.2% 7.6%
Merrill Lynch 19.0% 9.3% 6.6% 8.5%
Parsec Financial Management 19.8% 10.2% 7.3% 8.8%
Raymond James 19.7% 9.3% 6.6% 7.7%
UBS 17.7% 7.9% N/A N/A

Selected Performance Benchmarks

1 Year 3 Years 5 Years 10 Years
60% MSCI ACWI, 40% BC AGG 19.8% 9.5% 6.8% 7.3%
S&P 500 31.5% 15.3% 11.7% 13.6%
MSCI World Gross 28.4% 13.2% 9.4% 10.1%
Bloomberg Barclay's Aggregate 8.7% 4.0% 3.0% 3.7%

View our IRS Form 990 and 990-T for Tax year beginning July 1, 2017, and ending June 30, 2018.

See our Audited Financial Statements from 2019.

Printable Investment Information Returns as of December 31, 2019

Meet our team at The Community Foundation