National Magazine Names CU Foundation Its 2007 ‘Large Foundation Of The Year
Contact:
Gigi Reynolds, (303) 541-1219
Kirsten Steinke, (303) 541-1209
Oct. 24, 2007
Foundation and Endowment Money Management magazine named the University of
Colorado Foundation as the “Large Foundation of the Year” 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.
“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’s turbulent markets,” 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.
“Achieving this national recognition is a true honor,” said Chris Bittman, the CU
Foundation’s chief investment officer. “It reflects the excellent effort of our team of
directors, trustees, investment policy committee and staff.”
The nomination recognizes an exceptional year for the CU Foundation. During the last
fiscal year the endowment’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’s recordbreaking
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’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’s nonprofit partner. Its
mission is to raise, manage and invest private support for the benefit of all of CU’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 www.cufund.org.
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.