Financial Information

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


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.




  • Total assets managed nearly $225 million (as of 12/31/2022).
  • Over the past 20 years, the funding that the Foundation gives each year in the form of awards, scholarships and grants has grown from $2.46 million to a four-year average of $7.5 million, with $8.3 million awared in 2022.


Four-year performance (2019-2022 Covid)

Total raised: $49 million  |  Total awarded: $29 million


Summary as of 12/31/2022

Assests Managed
Category Assests (in millions) Individual Funds
Endowments $99.2 354
Restricted Funds $38.6 748
Other Funds,
Donor-advised funds
$9.9 19
Agency Accounts $75.2 4
Total Assests Managed $222.9 1121










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


Black Rock, Victory Fund, Alliance Bernstein

Domestic Fixed Income


Western Asset Core Plus Bond, TCW Core

International Equity


American Funds Europac, Acadian

Real Assets



Rate of Return 5 Years 7 Years 10 years

Net Return

4.69% 7.13% 7.52%

Composite Benchmark

4.44% 6.72% 6.99%


Foundation Sustaining Fund
Category Allocation Manager

Domestic Fixed Income


C.S. McKee




Rate of Return 5 Years Since 6/30/2010

Gross Return

1.13% 1.95

Composite Benchmark

0.83% 1.62








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