CREATE Financials
Financial InfoRMATION
Investment Program
CREATE Foundation preserves and protects your investments and charitable intentions forever. The unique power of endowments means that as your gifts grow, they continue to benefit the community now and in the future. In order to accomplish this, the majority of CREATE Foundation’s endowed funds are pooled together and invested for the long-term. The following provides a brief explanation about CREATE Foundation’s investment pool which includes investment strategy, asset allocation, investment funds, investment objective, spending policy, and investment performance.
Strategy
CREATE Foundation’s investment strategy seeks to preserve the value of the funds under management and to provide growth and income to support the charitable purposes for which the funds were created. This strategy is based on the Total Return concept, which allows investment managers to focus on maximum total return from capital appreciation, dividends and interest.
Asset Allocation
As seen in the tables below, CREATE Foundation has established a strategic asset allocation which seeks to diversify investments. A large portion of CREATE Foundation’s endowment portfolio is invested in equities in order to achieve long term growth, and it is diversified among equity classes in order to minimize risk. Risk is further minimized by investing a portion of CREATE Foundation’s portfolio in fixed income, alternatives, and cash.
It is the goal of the Foundation to be accountable to our community and to comply with the Internal Revenue Code and regulations with respect to public inspection of the Foundation’s IRS FORMS 990 and 990-T (if applicable). CREATE will provide a copy without charge, other than a reasonable fee for postage costs, of all or any part of any application or return required to be made available for public inspection to any individual who makes a request for such a copy in person or in writing.
CREATE FORMS 990
CREATE Forms 990 may also be accessed through Guidestar. Please click the following link to access: GuideStar CREATE Foundation.
Whistleblower
Privacy Policy
Document Retention and Destruction
Conflict of Interest Policy
2022 Audit and Financial Statements
Investments
CREATE Foundation preserves and protects your investments and charitable intentions forever. The unique power of endowments means that as your gifts grow, they continue to benefit the community now and in the future. In order to accomplish this, the majority of the Foundation’s endowed funds are pooled together and invested for the long-term.
The Endowment Pool is actively managed by HardyReed by using an asset allocation investment portfolio consisting of equity mutual funds, one fixed income mutual fund, one money market mutual fund, and individual fixed income securities.
An investment committee comprised of members of the CREATE Board of Directors mets quarterly to evaluate performance relative to industry standards. CREATE is the first foundation in the world to successfully complete the Center for Fiduciary Excellence (CEFEX) standard of excellence for investment stewards and continues to follow a certification process to affirm its accreditation year after year.
2021 Year End Allocation
CREATE Foundation Total (Composite) 100.0%
Our Objective
Our long-term investment objective is a financial return that will provide for a fund’s annual grant spending rate, administrative costs and growth for inflation.
The Spending Rate Policy
The spending rate policy is reviewed annually by the Investment Committee and Board of Directors. The policy provides an annual distribution of 4% of the fund’s average fund balance for the past three years (twelve quarters rolling average).
Annual Performance
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
CREATE Foundation |
13.78% |
-1.42% |
13.07% |
16.25% |
5.38% |
-1.17% |
8.81% |
16.43% |
-9.20% |
19.69% |
11.09% |
14.40% |
|
Allocation Weighted Benchmark |
14.01% |
-1.73% |
12.34% |
14.81% |
5.01% |
-2.15% |
8.31% |
15.76% |
-7.25% |
19.95% |
9.01% |
15.72% |
| Last 10 Years | Last 7 Years | Last 5 Years | Last 3 Years | Last 1 Year | Year to Date | Quarter to Date | |
|---|---|---|---|---|---|---|---|
|
Create Foundation |
8.01% |
7.57% |
10.26% |
10.26% |
31.14% |
10.03% |
5.44% |
|
Allocation Weighted Benchmark |
7.64% |
7.28% |
10.27% |
10.27% |
29.97% |
10.25% |
5.96% |
Endowment vs. CREATE Survey 2021
| Equity | Fixed Income | Alternative | Other | Cash | ||
|---|---|---|---|---|---|---|
|
All Endowments 12/31/2021 |
59.10% |
15.20% |
22.40% |
.40% |
2.90% |
100.00% |
|
$100-249.99MM Endowments 12/31/2021 |
64.50% |
18.20% |
13.40% |
0.70% |
3.20% |
100.10% |
|
CREATE Endowment 12/31/2021 |
74.56% |
22.53% |
2.46% |
0.00% |
0.45% |
99.99% |
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
All Endowments 12/31/2021 |
-1.9% |
12.6% |
16.0% |
4.4% |
-2.1% |
7.7% |
15.9% |
-7.2% |
19.5% |
11.50% |
14.70% |
|
$100-249.99MM Endowments 12/31/2021 |
-2.0% |
12.7% |
15.9% |
4.6% |
-2.2% |
8.1% |
16.0% |
-7.7% |
19.3% |
12.60% |
13.90% |
|
CREATE Endowment 12/31/2021 |
-1.6% |
13.0% |
16.3% |
5.4% |
-1.2% |
8.8% |
16.4% |
-9.20% |
19.69% |
11.09% |
14.40% |
Accreditations
National Standards Compliance
Center for Fiduciary Excellence Certification
CREATE Foundation is the first foundation in the world to successfully complete the Center for Fiduciary Excellence (CEFEX) certification process. The CEFEX standard of excellence for investment stewards is based on 22 fiduciary practices that seek to increate long-term investment performance by diversifying the portfolio, evaluating investment management fees, and selecting investment managers. In 2020, CEFEX recognized CREATE for 10 consecutive years of fiduciary excellence.
Charity Navigator Certification
In 2020, CREATE Foundation earned its tenth 4-star rating for its ability to efficiently manage and grow its finances. Only a small percentage of the charities rated have received eight 4-star evaluations, indicating that CREATE Foundation consistently executes its mission in a fiscally responsible way and outperforms most other charities in America.
Center for Fiduciary Excellence Certification
National Standards Compliance
Charity Navigator Certification
In 2014, CREATE Foundation earned its eight 4-star rating for its ability to efficiently manage and grow its finances. Only a small percentage of the charities rated have received eight 4-star evaluations, indicating that CREATE Foundation consistently executes its mission in a fiscally responsible way and outperforms most other charities in America.
