Foundation and Endowment Money Management magazine named the University of Colorado Foundation as the 聯Large Foundation of the Year聰 at its 2007 Nonprofit Awards for Excellence ceremony on Monday, Oct. 22.
The magazine, an Institutional Investor publication, selected the CU Foundation based on its superior investment performance, innovation and outstanding asset allocation moves, foundation officials said.
聯The University of Colorado Foundation has excelled both in seeking high returns and in limiting the downside. In June, CIO Chris Bittman made a series of timely adjustments to protect profits and take risk off the table. Consequently, the approximately $1 billion foundation performed well during this summer聮s turbulent markets,聰 according to Institutional Investor magazine.
The CU Foundation competed against the Chicago-based $6.1 billion John D. and Catherine T. MacArthur Foundation and the $2.5 billion Carnegie Corporation of New York. Past winners include the J. Paul Getty Foundation and Yale University.
聯Achieving this national recognition is a true honor,聰 said Chris Bittman, the CU Foundation聮s chief investment officer. 聯It reflects the excellent effort of our team of directors, trustees, investment policy committee and staff.聰
The nomination recognizes an exceptional year for the CU Foundation. During the last fiscal year the endowment聮s investment return was 22.79 percent, adding more than $140 million to the total value of its portfolio. This performance ranks the foundation ahead of 99 percent of its peers for the one-year period ending on June 30.
This outstanding investment performance coincided with the foundation聮s record-breaking fundraising year. During the 2007 fiscal year, donors contributed more than $100 million to benefit CU's campuses. This shattered the previous record, making 2007 the best fundraising year in the institution聮s 131-year history.
The magazine announced the winners in San Francisco on Monday. Thirty-nine nominees competed for 13 awards for foundations and endowments, asset managers, consultants and marketers in the nonprofit sector.
Founded in 1967, the CU Foundation is the University of Colorado聮s nonprofit partner. Its mission is to raise, manage and invest private support for the benefit of all of CU聮s campuses. Donors enable the university to reach its fullest potential by transforming lives through education, research, clinical care and community service. For more information, visit .
The University of Colorado has campuses in Boulder, Colorado Springs and downtown Denver and a Health Sciences Center at the Anschutz Medical Campus in Aurora. CU is a premier teaching and research university, ranked sixth among public institutions in federal research expenditures by the National Science Foundation.