{"id":3110,"date":"2021-11-11T20:24:40","date_gmt":"2021-11-11T20:24:40","guid":{"rendered":"https:\/\/www.calfund.org\/2021annualreport\/?page_id=3110"},"modified":"2024-04-19T00:37:07","modified_gmt":"2024-04-19T00:37:07","slug":"investments","status":"publish","type":"page","link":"https:\/\/www.calfund.org\/2023-annualreport\/investments\/","title":{"rendered":"Investments"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3110\" class=\"elementor elementor-3110\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-762a230 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"762a230\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c850a46\" data-id=\"c850a46\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6876afd elementor-widget elementor-widget-spacer\" data-id=\"6876afd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e9409a elementor-widget elementor-widget-text-editor\" data-id=\"6e9409a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: left;\">INVESTMENT POOLS &amp; STRATEGY<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1e70fd elementor-widget elementor-widget-image\" data-id=\"c1e70fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" width=\"60\" height=\"6\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-full size-full wp-image-2211 lazyload\" alt=\"\" \/><noscript><img decoding=\"async\" width=\"60\" height=\"6\" src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" class=\"attachment-full size-full wp-image-2211\" alt=\"\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d34ce0d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d34ce0d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-16660b7\" data-id=\"16660b7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-616765f elementor-widget elementor-widget-text-editor\" data-id=\"616765f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We and our donors seek to address the needs of today while upholding charitable legacies for generations to come, so we invest both for now and for the future. In partnership with our trusted advisors and experts, we seek to ensure long-term growth. The prudent fiscal stewardship of our donors\u2019 funds and legacies is our top priority.<\/p><p>We have honed our investment strategies over more than a century. Our four pools are each managed with individual objectives designed to align with the grantmaking horizon of our donors\u2014from short-term grantmaking to the creation of a permanent endowment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-9ef5c4b\" data-id=\"9ef5c4b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c189225 elementor-widget elementor-widget-text-editor\" data-id=\"c189225\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIn addition, CCF\u2019s Charitable Asset Management Partnership (ChAMP) provides a customized investment solution by providing donors whose funds meet certain criteria to recommend a registered investment advisor of their choosing to manage the assets of their donor advised fund.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fdc63a0 elementor-widget elementor-widget-image\" data-id=\"fdc63a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3.png\" data-srcset=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3.png 800w, https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3-300x261.png 300w, https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3-768x669.png 768w\" width=\"800\" height=\"697\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-full size-full wp-image-5661 lazyload\" alt=\"\"  sizes=\"(max-width: 800px) 100vw, 800px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"697\" src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3.png\" class=\"attachment-full size-full wp-image-5661\" alt=\"\" srcset=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3.png 800w, https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3-300x261.png 300w, https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2024\/04\/investment-pool-chart-3-768x669.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa7433a elementor-widget elementor-widget-text-editor\" data-id=\"aa7433a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><strong>Endowment Pool Allocation<\/strong><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b48c0b7 elementor-widget elementor-widget-text-editor\" data-id=\"b48c0b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Endowment Pool is a diversified, multi-asset class portfolio of primarily active managers invested for long-term growth and appreciation. The Endowment Pool is invested over an indefinite time horizon, although results are intended to be measured over a full market cycle. Given the long-term orientation of the Endowment Pool, we think it is reasonable to allow for a level of short-term volatility, which can benefit longer-term return potential. Most of the pool is allocated to global equities, both public and private, which seeks diversification by style, geography and sector. There are also meaningful allocations to fixed income, alternative assets and real assets to provide differentiated drivers of return and risk.<\/p>\n<p>As of today, the approximate target asset allocation for the Pool is 17 percent cash &amp; fixed income, 50 percent equities, 15 percent alternative assets (hedge funds), 10 percent private equity, and 8 percent real assets. These targets are likely to evolve over time depending on the market opportunity set. This is the primary vehicle used by CCF for the investment of its permanent funds.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7a4bbf7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a4bbf7\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1a48209\" data-id=\"1a48209\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4068404 elementor-widget elementor-widget-spacer\" data-id=\"4068404\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-847f67b elementor-widget elementor-widget-text-editor\" data-id=\"847f67b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: left;\">POOLS &#038; ASSETS<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b78595 elementor-widget elementor-widget-image\" data-id=\"6b78595\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" width=\"60\" height=\"6\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-full size-full wp-image-2211 lazyload\" alt=\"\" \/><noscript><img decoding=\"async\" width=\"60\" height=\"6\" src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" class=\"attachment-full size-full wp-image-2211\" alt=\"\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d7d56a7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d7d56a7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-fbc1ac8\" data-id=\"fbc1ac8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-999db56\" data-id=\"999db56\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c430c14 elementor-hidden-mobile elementor-widget elementor-widget-text-editor\" data-id=\"c430c14\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Description<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-24d7bef\" data-id=\"24d7bef\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b7ba84a elementor-hidden-mobile elementor-widget elementor-widget-text-editor\" data-id=\"b7ba84a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<strong>Objective<\/strong>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7564fdc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7564fdc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-b951c6f\" data-id=\"b951c6f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ac0176c elementor-widget elementor-widget-text-editor\" data-id=\"ac0176c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 24px; font-weight: 600; color: #07b1c1;\">1<br \/>Endowment<br \/>Pool<\/span><br \/>Investment Assets:<br \/>$1,146,486,006<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-32208c4\" data-id=\"32208c4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-52529d9 elementor-widget elementor-widget-text-editor\" data-id=\"52529d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tSeeks to achieve long-term growth, preserving the purchasing power of assets over an indefinite time horizon and providing a relatively predictable, stable stream of distributions that keep pace with inflation over time.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4c0a925\" data-id=\"4c0a925\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7247b6d elementor-widget elementor-widget-text-editor\" data-id=\"7247b6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested for long-term appreciation across multiple investments. Our Investment Committee, our Outsourced Chief Investment Officer Hall Capital Partners and many external investment managers oversee this pool.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-14c4665 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"14c4665\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-3efc36b\" data-id=\"3efc36b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f72362 elementor-widget elementor-widget-text-editor\" data-id=\"3f72362\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 24px; font-weight: 600; color: #1c4495;\">2<br \/>Social Impact<br \/>Endowment Pool<\/span><br \/>Investment Assets:<br \/>$94,837,255<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4e7af49\" data-id=\"4e7af49\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f2b06b0 elementor-widget elementor-widget-text-editor\" data-id=\"f2b06b0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Aims to achieve long-term growth over an indefinite time horizon, but also adds rigorous environmental, social and governance (ESG) analysis as an additional mandate.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-32c9191\" data-id=\"32c9191\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d1f9b22 elementor-widget elementor-widget-text-editor\" data-id=\"d1f9b22\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested in the Vanguard FTSE Social Index fund and Community Capital Management fund, two mutual funds with multiple social screens and a long-term objective.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-80bf30c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"80bf30c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-ac2b5ff\" data-id=\"ac2b5ff\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-07d2da5 elementor-widget elementor-widget-text-editor\" data-id=\"07d2da5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 24px; font-weight: 600; color: #2681d3;\">3<br \/>Conservative<br \/>Balanced Pool<\/span><br \/>Investment Assets:<br \/>$51,834,764<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-8592537\" data-id=\"8592537\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ab3e3d elementor-widget elementor-widget-text-editor\" data-id=\"5ab3e3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Offers diversified exposure to investment-grade fixed income with maturities from 1\u20135 years and to the entire U.S. equity market for purposes of grantmaking over an intermediate horizon, generally 3\u20137 years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-029259b\" data-id=\"029259b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5c132a0 elementor-widget elementor-widget-text-editor\" data-id=\"5c132a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tInvested to seek moderate growth while providing the liquidity needed for grantmaking over the intermediate term. Management for this pool is provided by Vanguard.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6e66fa6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6e66fa6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-50ca9ec\" data-id=\"50ca9ec\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7215209 elementor-widget elementor-widget-text-editor\" data-id=\"7215209\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 24px; font-weight: 600; color: #44546a;\">4<br \/>Capital<br \/>Preservation Pool<\/span><br \/>Investment Assets:<br \/>$249,133,414<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-2e0dcc1\" data-id=\"2e0dcc1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1c0ba28 elementor-widget elementor-widget-text-editor\" data-id=\"1c0ba28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tEndeavors to preserve principal, ensure liquidity and provide working funds for present and future needs through investment in high-quality, short-term fixed income and cash instruments.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-fb49e79\" data-id=\"fb49e79\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-72d3192 elementor-widget elementor-widget-text-editor\" data-id=\"72d3192\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tInvested to meet the needs of funds with short-term objectives or goals. Structured to ensure maximum liquidity for grantmaking while also seeking to preserve principal. This pool is managed by our long-term partner City National Bank.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-342b5ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"342b5ac\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-67c3e31 col-invest\" data-id=\"67c3e31\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e89b84c elementor-widget elementor-widget-text-editor\" data-id=\"e89b84c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: left;\">Investment Performance<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2320218 elementor-widget elementor-widget-image\" data-id=\"2320218\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" width=\"60\" height=\"6\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-full size-full wp-image-2211 lazyload\" alt=\"\" \/><noscript><img decoding=\"async\" width=\"60\" height=\"6\" src=\"https:\/\/www.calfund.org\/2023-annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" class=\"attachment-full size-full wp-image-2211\" alt=\"\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13f2e0d financials-overview financial-tables elementor-widget elementor-widget-html\" data-id=\"13f2e0d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\r\n    <tbody>\r\n        <tr class=\"table-top-bar\">\r\n            <td>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10 YEAR\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"table-color aqua\">\r\n            <td>\r\n                <p class=\"table-title\">\r\n                    1. Endowment Pool\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5.8%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    4.7%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5.5%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>CCF Blended Benchmark<\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5.8%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>Crewcial Partners (FAOG)  Community Foundation Survey<\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.8%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    6.0%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    6.7%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"table-color dark-blue\">\r\n            <td>\r\n                <p class=\"table-title\">\r\n                    2. Social Impact Endowment Pool <br \/>\r\n                    <span class=\"table-small\">(inception date: 1\/1\/2004)<span>\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    12.5%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.7%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    65% S&amp;P 500 \/ 35% BCAgg\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    12.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.0%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.8%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"table-color blue\">\r\n            <td>\r\n                <p class=\"table-title\">\r\n                    3. Conservative Balanced Pool <br \/>\r\n                    <span class=\"table-small\">(inception date: 10\/1\/2013)<\/span>\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    4.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    -\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    30% CRSP U.S. Total Market Index \/ 70% Barclays U.S. 1-5\r\n                    Year Government\/Credit Float Adjusted Index\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>5.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    4.5%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    -\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr  class=\"table-color grey\">\r\n            <td>\r\n                <p class=\"table-title\">\r\n                    4. Capital Preservation Pool <br \/>\r\n                    <span class=\"table-small\">(inception date: 1\/1\/2002)<\/span>\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3.7%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.0%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    Bank of America ML 91-Day T-Bills\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3.8%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.0%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n    <\/tbody>\r\n<\/table>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>INVESTMENT POOLS &amp; STRATEGY We and our donors seek to address the needs of today while upholding charitable legacies for&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-fullwidth.php","meta":{"footnotes":""},"class_list":["post-3110","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/pages\/3110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/comments?post=3110"}],"version-history":[{"count":259,"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/pages\/3110\/revisions"}],"predecessor-version":[{"id":5670,"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/pages\/3110\/revisions\/5670"}],"wp:attachment":[{"href":"https:\/\/www.calfund.org\/2023-annualreport\/wp-json\/wp\/v2\/media?parent=3110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}