Gifts to KZCF become part of a permanent endowment, which means they will benefit our community forever. We still have the original gift made in 1925 from W.E. and Carrie "Carol" Upjohn. KZCF invests the gifts we receive so they grow and maximize the resources available to us to address both immediate and long-term community needs.
Investment Objectives for Endowed Funds
For endowed funds, our investment goals are to preserve the original value of gifts in terms of inflation, and grow our assets as much as market conditions allow so we can address community needs now and in the future. KZCF employs a moderate growth strategy in which 70 percent are invested in equities, 25 percent in fixed income vehicles, and five percent in real estate funds. We are committed to an investment strategy of disciplined asset allocation, regular rebalancing, minimizing fees and expenses, and not reacting to near-term market pressures or new investment fads.
Quarterly Investment Performance
The chart below illustrates KZCF's investment performance for 2nd Quarter 2023.
|Core Assets||Qtr 2||YTD||3 Yrs||5 Yrs||10 Yrs||15 Yrs|
|Income & Growth|
|Socially Responsible Investment (SRI) Performance|
Investment performance is net of manager fees and derived from core KZCF assets allocated into its two investment strategies. Historic performance for each is then derived from linkages to prior quarterly returns. Performance reflects prior changes in asset allocations while benchmarks assume current allocations.
(1) The Moderate Growth Benchmark is a staged index composite benchmark that has the current composition of the Barclays US Aggregate Bond Index (15 percent); Barclays US Treasury 5-10 Yr TR USD (10 percent); DJ US Select REIT index (2.5 percent); MSCI EAFE Small Cap Index (10 percent); MSCI Emerging Markets Value index (10 percent); Russell 1000 Value index (5 percent); Russell 2000 Value index (10 percent); Russell Micro Cap index (5 percent); S&P 500 index (30 percent); and the NCREIF Fund Index ODCE (2.5 percent). The composition of the benchmark over time is available upon request.
(2) The Income and Growth Benchmark consists of the S&P 500 index (50 percent) and the Barclays US Aggregate Bond index (50 percent).
(3) The SRI Benchmark is 70 percent equity benchmark and 30 percent fixed income benchmark. The equity benchmark is 75 percent Standard & Poor's 1500 Index, 15 percent MSCI EAFE Index, and 10 percent MSCI Emerging Markets Index. The fixed income benchmark is the Bloomberg Barclays Intermediate Government/Credit Index.
More Information About Our Investments:
- Our Core Investment Managers
- KZCF Financial Investment Committee
- Investment Policy For Endowed Funds
- Investment Policy For Non-Endowed Funds
- Socially Responsible Investment Info Sheet
- Spending Policy Unrestricted Endowed
- Spending Policy For Unrestricted Endowed Funds
- How Can You Help Build A Stronger Community?
Interim Director of Finance
For more information about our investment performance, connect with Karen.
Our accreditation provides assurance that we meet the highest standards for local giving.