Note: Q1 2024 investment performance data and statements will be available on May 16.


Investment Strategy & Performance

As stewards of the charitable funds entrusted to us, Berkshire Taconic Community Foundation is committed to seeking the best possible returns while minimizing risk so that donors can grant more to the communities and causes they care about—now and for years to come.

Investment Performance as of March 31, 2024

Pool1 mo.1 Year3 Years5 Years7 Years10 YearsAssets

Managed Pool

2.1

15.9

7.6

10.6

9.8

8.6$202.6M
Managed Pool Benchmark

2.0

14.5

6.0

9.6

8.8

7.5

N/A

Traditional 65% Equities /
35% Bond Index

2.2

14.9

2.9

6.8

6.8

5.7

N/A
Socially Responsible Pool

2.3

18.4

4.8

8.3

7.8

7.4

$18.5M
Income Pool

0.8

4.6

0.2

1.9

2.2

2.1

$2.6M
Minimum Risk Pool

0.4

5.1

2.51.81.71.2$4.2M

Investment Commentary & Return Detail

The Foundation’s Managed Pool is an endowment model portfolio that is diversified among public equities and fixed income investments and alternatives flexible capital (hedge fund) and private equity investments. The goal of the portfolio is to achieve strong long-term returns with lower volatility than similar marketable portfolios while maintaining the purchasing power of our endowment funds over time. Investment, consultant and custodial fees total 1.06%, and returns are reported net of managed fees.

Investment Commentary: Q1 2024

The Managed Pool portfolio gained 5.3% in the first quarter of 2024, matching the Policy Index. As of March 31, total assets were $202.6 million, and all asset segments were allocated within their respective target ranges. The Wellington Global Research Equity Extended Fund is a relatively new addition to the portfolio and has performed well in this environment. Since its inception in November 2023, it has increased 25.3%. Investment markets continue to be driven primarily by the anticipated path of interest rates, inflation headlines and enthusiasm in AI. With this momentum, public equities were the main driver of returns.


View current performance

Asset Class (% of Allocation)Lower BoundaryUpper Boundary
Global Equity (Public and Private)

50%

80%
• Global Public Equity35%65%
• Domestic Equity25%50%
• Non-U.S. Developed Equity7%20%
• Emerging Markets Equity0%10%
• Private Equity15%28%
Flexible Capital15%30%
Global Fixed Income0%20%
Real Assets0%10%
Cash0%10%

Created in March 2009 for those individuals or organizations that want fund assets invested with an environmental, social and governance screen, that is better aligned with their values and the foundation’s mission and vision. Investment portfolio fees are 0.57%.

Investment Commentary: Q1 2024

The Socially Responsible Pool portfolio gained 5.9% in the first quarter of 2024, just below its Policy Index return of 6%. As of March 31, the portfolio had $18.6M in assets and is highly liquid, with 82.5% of its investments offering daily liquidity. The portfolio has adopted new targets of 75% equity and 25% fixed income, as the Foundation has redeemed from our two hedge fund positions.

View current performance

Asset ClassRanges
Global Equity55-80%
Private Equity0-5%
Flexible Capital0-20%
Real Assets0-20%
Fixed Income0-20%
Liquidity0%

Appropriate for fundholders who seek to minimize risk and reduce volatility. This pool is invested in bond funds. The average annual investment fees are 0.46% and the allocation is 100% fixed income and cash equivalents.

View current performance

Accommodates funds that are generally short term in nature and are focused on investment of capital with minimal risk. The Money Market Pool earned 4.8% in 2023, trailing the FTSE 2 Month T-Bill returns of 5.3%.

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Financial Information

Founded in 1987 with an anonymous donation of $100,000, we now manage charitable assets of $200 million. Through sophisticated investing, careful management of operating expenses and generous contributions from individuals, families and organizations, we continue to grow and serve as an enduring source of support for current and future needs.

Audited Financial Statements

2022 2021 2020 2019 2018

Form 990

2022 2021 2020 2019 2018

Other Documents

Investment Policy

Spending Policy