The Foundation’s pooled investment program offers professional management, strong oversight and diversification. For five years, Wurts & Associates, a nationally recognized consultant, has overseen the pools. Our four investment pools are a Short Term Pool, a Mid Term Pool, a Long Term Pool and an Endowment Pool:
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A cash-equivalent pool designed for donors or nonprofits that wish to make grants immediately or for funds that cannot sustain any loss of principal over any time horizon.
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Designed for donors or nonprofits with medium-term objectives (3-5 years). While conservative, the MidTerm Pool will have a moderate risk of loss. The fund will remain liquid and will not include an allocation to alternative investments or real estate.
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Designed for donors or nonprofits with long-term objectives (7+ years) and spending rates of approximately 5% of assets per year. This pool will remain liquid and will not include an allocation to alternative investments or private real estate. Real assets for this pool constitute inflation-hedging liquid investments such as REITs or commodities.
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Designed for donors or nonprofits with endowment-like objectives (20+ years),willing to accept moderate illiquidity and with spending objectives of approximately 5% of assets per year. The pool will be managed consistent with endowment best practices and will invest a portion in non-public investments such as private real estate and hedge funds of funds, much like leading universities and large community or private foundations. Real assets for this pool constitute private real estate, REITS and/or commodities. Alternatives constitutes hedge funds of funds2.
Due to moderate illiquidity, donors and nonprofits will be asked to (a) hold any large or “pass-through” grants in other pools; (b) provide 90-days notice for distributions in excess of $100,000; and (c) acknowledge that JCF reserves the right to hold back up to 10% of funds.
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Notes:
The asset classes and allocations are subject to change and Board approval
A hedge fund of funds invests in several hedge funds – often with a range of investment objectives – to spread risk. A hedge fund is a private investment fund that charges a performance fee and is typically open to a limited range of qualified investors.
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To change your investment allocation, please access your fund using the login at left. Please contact Jeremy Pearl, CFO if you have questions.