FINANCIALS


INVESTMENT MANAGEMENT

The endowment pool is managed with a long-term perspective where principal is preserved and enhanced over time. Total return, consistent with prudent investment management, is the primary goal.

Funds invested in the endowment pool are subject to a spending plan that makes a percentage of the fund’s average market value available for grants each year.

The current target asset allocation of the Community Foundation’s endowment pool is as follows:

Endowment pool investment returns as of December 31, 2023 net of fees:

 Period

Return (%)

 3 Months 7.8
 1 Year 12.2
 3 Years (annualized) 3.7
 5 Years (annualized) 8.3

INVESTMENT COMMITTEE

The Community Foundation’s Investment Committee is responsible for the oversight of all investments, including determining asset allocation, selecting and monitoring investment managers, and reviewing performance. In doing so, the committee works closely with its consultant, NEPC LLC.

Ken Whipple, Investment Committee Chair and Former CEO and Chairman, Consumers Energy

Michael E. Bannister, Former Chairman and CEO, Ford Motor Credit Co.

Thomas C. Buhl, Senior Vice President – Investments, Wells Fargo Advisors

Angela J. Buk, Vice President, Benefit Funds Investment, 3M

Phillip Wm. Fisher, Founder, Mission Throttle L3C

Allan D. Gilmour, President Emeritus, Wayne State University

Jeffrey C. Littmann, Life Trustee, Ralph C. Wilson, Jr. Foundation

Jack Martin, Chairman, Martin, Arrington, Desai & Meyers PC

Nick Khouri, Former Treasurer, State of Michigan

David T. Provost, CEO, TCF Financial Corp.

Christopher L. Rizik, CEO, Renaissance Venture Capital Fund

Sean K. Werdlow, Senior Managing Director and COO, Siebert Cisneros Shank & Co LLC

ENDOWMENT INVESTMENT MANAGERS

 

Manager Name

Strategy

State Street Global Advisors Domestic Large Cap Equity, U.S. Treasury Index
Fidelity Domestic Large Cap Equity
BlackRock Domestic Large and Small/Mid Cap Equity, International Developed Large Cap Equity, Diversified Multisector Fixed Income, TIPS
Hardman Johnston International Developed Large Cap Equity
Aberdeen Emerging International Large Cap Equity
William Blair Emerging International Small Cap Equity
Loomis Sayles Core Bond Fund
Vanguard Short-Term Investment Grade Bond Fund
Monroe High Yield/Direct Lending, Private Markets
PIMCO Diversified Multisector Fixed Income, Enhanced Cash
CarVal Opportunistic
Arboretum Private Markets
Cevian Private Markets
HarborVest Private Markets
Huron Private Markets
Kennedy Lewis Private Markets
Glouston Private Markets
MGG Specialty Finance Private Markets
Pfingsten Private Markets
Thoma Bravo Private Markets
Trive Capital Private Markets
Vance Street Capital Private Markets
Windjammer Private Markets
Comerica Cash

DONOR ADVISED FUND INVESTMENT OPTIONS

 

Donor advised funds can be endowed or non-endowed. Endowed donor advised funds are invested in the endowment pool and enable donors to leave a permanent legacy while actively participating in recommending grants to be made from the fund annually.

Non-endowed donor advised fund donors may recommend one of five investment strategies:

  • Money Market
  • Conservative
  • Balanced
  • Growth
  • All Equity

Each is based on the degree of market risk and rate of return consistent with the timing of the grants the donor plans to recommend. Download the Donor Advised Fund Investment Strategies Handout for more information about the five investment strategies available by clicking here.

The most recent quarterly investment performance for our non-endowed investment strategies can be found by clicking on the link below.

TAX-EXEMPT STATUS

 

The Community Foundation for Southeast Michigan is a tax-exempt public charity. Our federal EIN/tax identification number is 38-2530980. To view our tax exemption letter from the IRS, please click here.

 

AUDITED FINANCIAL STATEMENTS

 

The Community Foundation for Southeast Michigan annually appoints an independent auditor to conduct an audit of the combined financial statements of the Foundation and supporting organizations.

Download our most recent audited financial statements for more information.

 

FORM 990

 

Our tax returns (IRS Form 990 and Form 990-T) are available for public inspection at the Community Foundation for Southeast Michigan, 333 W. Fort St., Suite 2010, Detroit, MI, or you can view the Form 990 on Guidestar.