Financial Information

Impacting patient care, education, research, and community health and well-being through charitable giving

Achievements

The Upstate Foundation has achieved Platinum distinction from Candid/GuideStar, the leading source of information on the programs, finances and impact of more than 1.8 million IRS-recognized nonprofit organizations.

 

 

Milestones

  • Total assets managed has increased more than tenfold over the past 25 years, from $20.1 million to over $260 million (as of 12/31/2023).
  • Over the past 20 years, funding that the Foundation gives each year in the form of awards, scholarships and grants has grown from $2.46 million to a five-year average of $7.5 million. In 2023, $7.6 million were awarded.

Summary as of 12/31/2023

Assests Managed
Category Assests (in millions) Individual Funds
Endowments $113.7 365
Restricted Funds $36.2 756
Other Funds,
Donor-advised funds
$21.8 18
Agency Accounts $88.4 4
Total Assests Managed $260.1 1143

 

 

 

 

 

 

  

 

 

Endowment financial objectives

  • Preserve the principal value of the endowment’s portfolio, adjusted for the rate of inflation, so that the portfolio’s purchasing power will be maintained in perpetuity.
  • Maintain a prudent level of risk so that the principal value of the portfolio, adjusted for inflation, will be reasonably stable.
  • Grow principal to increase the purchasing power of the Foundation’s portfolio is a secondary objective.  

 

Endowment Asset Allocation
Category Allocation Manager

Domestic Equity

46%

Black Rock, Victory Fund, Alliance Bernstein

Domestic Fixed Income

22%

Western Asset Core Plus Bond, TCW Core

International Equity

25%

American Funds Europac, Acadian

Real Assets

7%

PIMCO-IRMA

 
Rate of Return 1 Years    

Net Return

17.4%    

Composite Benchmark

16.5%    

 

Foundation Sustaining Fund
Category Allocation Manager

Domestic Fixed Income

100%

C.S. McKee

 

 

 

 
Rate of Return 1 Years Since inception, 163 months

Gross Return

6.4% 2.35

Composite Benchmark

4.9% 1.95