Objectives

The objectives of the Foundation’s investment portfolio are to produce a long-term rate of return that provides sufficient funds to meet the Foundation’s required grantmaking target, cover all reasonable and necessary expenses, and compensate for inflation. The assets are invested in a well-diversified global investment portfolio that accepts reasonable risk consistent with desired return.

Benchmark

The Foundation has adopted a globally diversified benchmark, the Global Diversified Index (GDI), comprised of stocks, bonds, real estate, and private markets. The actual portfolio’s risk and return is measured against this benchmark over full market cycles. The Foundation’s benchmark composition and ranges (as of 12/31/24) are shown below: