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
|