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, 2020 Reported Net of Investment Expenses

Qtr.

1 Year3 Years5 Years10 Years
All CFWNC Investments

10.1%

11.6% 7.2%

8.4%

6.9%

Accounts Managed by CFWNC Investment Committee

Qtr. 1 Year 3 Years 5 Years 10 Years
Multi-Manager Fund10.4% 10.5%

6.6%

8.1% 6.6%
Socially Responsible Fund11.1% 13.9% 8.7% 9.0% 7.5%
Passive Investment Portfolio10.4% 13.8% 9.0% 10.0% 8.4%
American Funds10.0% 14.1% 8.8% 9.7% 8.0%
Charitable Trust Pool11.3% 11.9% 6.7%

8.2%

6.1%
Conservative Allocation7.2% 9.3% 5.7% 6.5% 5.1%

Donor Directed Investment Managers

Qtr. 1 Year 3 Years 5 Years 10 Years
Altamont Capital Management11.8% 7.9% 5.3%

7.3%

6.8%
Altavista Wealth Management8.2% 15.3% 9.3% 9.6% 7.8%
Boys Arnold & Co.10.2% 14.5% 8.9% 9.2% 7.1%
Colton Groome & Co.11.1% 16.1% 8.8% 10.4% 7.7%
Merrill Lynch9.3% 13.1%

8.6%

9.0% 8.9%
Parsec Financial Management11.4% 14.9% 9.6% 10.6% 9.1%
Raymond James9.9% 12.9% 8.4%

9.5%

7.7%
UBS9.9% 11.9% 7.1%

8.5%

N/A

Selected Performance Benchmarks

Qtr. 1 Year 3 Years 5 Years 10 Years
CPI + 4.5%1.2%5.9%6.4%6.5%6.3%
60% MSCI ACWI, 40% BC AGG9.1% 13.8% 8.9% 9.7%% 7.6%
S&P 50012.1% 18.4% 14.2% 15.2% 13.9%
MSCI EAFE Gross14.1% 16.5% 11.1% 12.8% 10.5%
Bloomberg Barclay's Aggregate0.7% 7.5% 5.3% 4.4% 3.8%

View our IRS Form 990 and 990-T for Tax year beginning July 1, 2018, and ending June 30, 2019.

See our Audited Financial Statements from 2020

Printable Investment Information Returns as of December 31, 2020

Meet our team at The Community Foundation