Authored by: William Prout

Foundation Annual Investment Pool Returns: Calendar Year 2022

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Our annual survey-based report summarizes returns, asset allocation, and other investment-related data for 106 foundations for the calendar year ended December 31, 2022, across six sections: Investment Portfolio Returns, Investment Policy, Portfolio Asset Allocation, Investment Manager Structures, Payout From the Long-Term Investment Portfolio, and Investment Office Staffing and Governance.

Spending Policies and Practices: Fiscal Year 2022

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Annual distributions from the endowment are a source of supplemental operating revenue for most endowed institutions. An institution’s endowment spending policy provides a basis for the calculation of the annual distribution, serving as a bridge that links the long-term investment portfolio and the enterprise. The data and analysis in this report review the various spending rule types used among our endowment clients. Also included are analyses on the endowment’s support of operations and effective spending rate.

Annual Review of Endowments: Fiscal Year 2022

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In fiscal year 2022, endowments faced a challenging market environment one year after they had seen the best investment returns in decades. Our annual report based on a survey administered to our endowment clients summarizes returns, asset allocation, and other investment-related data for 316 institutions for the fiscal year ended June 30, 2022. We also review peer data on topics such as investment policy, portfolio manager structures, spending, and investment office staffing and governance.