Investments & Financial Information

The thoughtful stewardship of The Community Foundation’s assets is a critical responsibility of the board of directors. The Foundation’s investment program utilizes multiple levels of oversight in managing assets for the benefit of Western North Carolina.

The Foundation’s Investment Committee, comprised of local professionals with investment and financial expertise, has 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 the compilation of performance data. Multiple investment managers provide value to the Foundation’s investment process through the application of their knowledge and experience in portfolio management.

The Community Foundation’s goal is to achieve a rate of return sufficient to address the charitable needs of Western North Carolina, while not exposing its assets to undue risk of significant capital depreciation.

The performance goals of the Foundation’s investment activities are as follows:

  • 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.

Investment Performance Information as of June 30, 2014 Reported Net of Investment Expenses

  1 Year 3 Years 5 Years 10 Years
All CFWNC Investments 15.4% 8.7% 11.5% 5.7%

Accounts Managed by CFWNC Investment Committee

  1 Year 3 Years 5 Years 10 Years
Multi-Manager Fund 15.4% 8.7% 11.6%  5.4%
Socially Responsible Fund 16.5% 8.8% 12.0% 5.9%
Passive Investment Portfolio 17.7% 9.8% 13.0% N/A
Charitable Trust Pool 14.3% 7.9% 10.7% 5.2%
Conservative Allocation 12.0% 6.8% 8.1% 5.3%

Donor Directed Investment Managers

  1 Year 3 Years 5 Years 10 Years
Altamont Capital Management 15.8% 9.3% 13.2% N/A
Altavista Wealth Management 14.3% 8.5% 10.8% N/A
American Funds 16.7% 9.3% 11.5% 6.8%
Boys Arnold & Co. 14.6% 8.1% 10.1% 4.9%
Colton Groome & Co. 22.7% 8.9% 13.0% N/A
Merrill Lynch 16.4% 10.1% 11.7% 7.0%
Parsec Financial Management 17.9% 11.5% 12.8% 6.8%
Raymond James 15.6% 9.1% 12.3% N/A
TIFF Multi-Asset Fund 13.3% 8.5% 12.2% N/A

Selected Performance Benchmarks

  1 Year 3 Years 5 Years 10 Years
60% MSCI World, 40% BC AGG 16.3% 9.1% 11.5% 7.1%
S&P 500 24.6% 16.6% 18.8% 7.8%
MSCI EAFE 24.1% 8.6% 12.3% 7.4%
Barclay's Aggregate 4.4% 3.7% 4.9% 4.9%
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