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class="hidden">Search</span></span> </a> </div> </div> </nav> </div> </header>  <main id="main" role="main"> <div class="main-container reverse-container"> <h1 class="hide">Investments</h1> <ul class="breadcrumbs"> <li> <a href="/">Home</a> </li> <li><a class='1' href='https://sff.org/what-we-do/' title='What We Do'>What We Do</a></li><li>Investments</li> </ul> <div id="content"> <div class="underline"> <h3>Investments</h3> </div> <div class="main-post-content"> <h5><strong>Investing to Maximize Impact </strong></h5> <p>We want to make the biggest impact possible on our community. That’s why we invest our assets in alignment with our values and with the long-term goal of generating strong investment results. We’re proud to offer a new Mission-Aligned Investments Pool, which uses a variety of socially responsible and impact investment strategies that support our commitment to racial equity and economic inclusion, whether by investing in firms led by women and people of color, who have historically faced barriers accessing capital, or by investing in companies whose work directly aligns with our commitment to equity.</p> <p>As a foundation donor, you gain access to top-tier investment managers who generate exceptional returns, as well as the guidance of an industry-leading investment consultant and our <a href="https://sff.org/what-we-do/investment-committee/">Investment Committee</a>. Diversity of our managers is a core consideration of our Investment Committee. More than 35 percent of our assets are invested by firms owned by women and people of color.</p> <h5><strong>Investment Portfolios and Objectives</strong></h5> <p>Donors have access to four investment portfolios to meet your grantmaking objectives. We set high standards for each portfolio, using institutional asset managers. We consider environmental, social and governance factors across all of our portfolios, which we believe contributes to strong performance. The portfolios’ asset allocation, risk and performance are closely monitored by our consultant, Investment Committee and staff.</p> <figure id="attachment_41588" aria-describedby="caption-attachment-41588" style="width: 2560px" class="wp-caption aligncenter"><a href="https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-scaled.jpg"><img fetchpriority="high" decoding="async" class="size-full wp-image-41588" src="https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-scaled.jpg" alt="Investment Pools 2023" width="2560" height="1468" srcset="https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-scaled.jpg 2560w, https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-600x344.jpg 600w, https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-1024x587.jpg 1024w, https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-768x440.jpg 768w, https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-1536x881.jpg 1536w, https://sff.org/wp-content/uploads/2023/04/SFF_2023_InvestmentPool_BarChart_v2_Final-2048x1175.jpg 2048w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-41588" class="wp-caption-text">Click to enlarge</figcaption></figure> <h6><strong>Long-Term Pool </strong></h6> <p><strong>Designed for</strong>: Donor advised funds that will be granted out over time.</p> <p><strong>Investment objective</strong>: Diversified portfolio that includes global equity and fixed income, private equity, venture capital and hedge funds. The inflation-adjusted return allows for flexible and active grantmaking. To deepen our impact investment program, since July 2022, a portion of the Long-Term Pool is also allocated to the foundation’s <a href="http://sff.org/bacif">Bay Area Community Impact Fund</a> (BACIF). BACIF provides local nonprofits and social enterprises with low-interest loans to help advance racial equity and economic inclusion in the Bay Area.</p> <h6><strong>Mission-Aligned Investments Pool </strong></h6> <p><strong>Designed for</strong>: Donor advised funds that will be granted out over time. Funds are invested with a values-based approach that aligns with the foundation’s commitment to racial equity and economic inclusion.</p> <p><strong>Investment Objective</strong>: Diversified portfolio seeking market rate returns in global equity and global fixed income using a variety of impact investment and socially-responsible strategies, such as social screens and environmental, social and governance considerations. Over time, illiquid investments, such as private equity, are being added to provide targeted social impact. This pool also allows for flexible and active grantmaking.</p> <p>To deepen our impact investment program, since July 2022, a portion of the Mission-Aligned Investments Pool is also allocated to the foundation’s <a href="http://sff.org/bacif">Bay Area Community Impact Fund</a> (BACIF). BACIF provides local nonprofits and social enterprises with low-interest loans to help advance racial equity and economic inclusion in the Bay Area. <a href="https://sff.org/wp-content/uploads/2022/07/2022-MAI-pool-BACIF-Expansion-updates_FINAL.pdf" target="_blank" rel="noopener">Learn more</a>.</p> <h6><strong>Short-Term Pool</strong></h6> <p><strong>Designed for</strong>: The portion of donor advised funds to be used for near-term grantmaking.</p> <p><strong>Investment objective</strong>: Short duration portfolio that includes U.S. dollar denominated short-term, fixed-income securities and cash equivalents. The targeted return matches or exceeds inflation and avoids exposure to more volatile asset classes such as equities and alternative investments. The pool uses the same social screens as the Mission-Aligned Investments Pool, as well as environmental, social and governance considerations in its investment selection process.</p> <h6><strong>Endowment </strong></h6> <p>The foundation’s endowment pool consists of a collection of permanent, unrestricted and designated funds established over time by many generous donors through outright gifts and bequests. Nonprofit organizations also create endowment funds with the foundation to generate an enduring source of income for their missions.</p> <p><strong>Designed for</strong>: Permanent funds aiming to maintain grantmaking power in perpetuity.</p> <p><strong>Investment objective</strong>: Diversified portfolio that includes global equity and fixed income, private equity, venture capital and hedge funds. The target inflation-adjusted return is consistent with our annual distribution rate of approximately 5 percent.</p> <h6><strong>Bay Area Community Impact Fund</strong></h6> <p>This program-related investment fund enables the foundation and donor advised funds to make impact investments in organizations and projects that align with our commitment to racial equity and economic inclusion. By providing nonprofits and social enterprises with access to low-interest, long-term loans, this fund enables organizations to expand their activities and finance high-impact projects. Better yet, as loans are repaid, the fund makes new investments, recycling capital back into communities. <a href="https://sff.org/bacif-for-donors/">Learn more</a>.</p> <h5><strong>Investment Managers</strong></h5> <p>We implement our strategy through index funds and active investment managers. Working with our investment consultant, Crewcial Partners, we closely monitor performance, adherence to strategy, and the risk exposures of each manager. New managers are added to improve diversification and enhance the prospective performance of the portfolio.</p> <p>With Crewcial Partners, we seek out and evaluate firms owned by women and people of color to ensure that our managers represent a diverse set of strategies, views and backgrounds. We have more than $585 million invested with diverse managers.</p> <p>We have established asset allocation targets consistent with the investment objectives of each portfolio. Actual allocations are managed within the range outlined in our investment policy.</p> <p>We believe our allocation policies lead to long-term success in meeting investment objectives under a variety of market conditions. Market timing is not part of our investment philosophy. <u><a href="https://sff.org/what-we-do/performance-and-analysis/">Learn more</a></u> about our investment performance.</p> <p> </p> </div> </div> <div class="filters-wrapper open-close-filters"> <a href="#" class="opener">What We Do <span class="icon icon-triangle"></span></a> <div class="slide"> <div class="subnavigation"> <ul> <li> <a href="https://sff.org/what-we-do/investments/bacif-for-applicants/">Bay Area Community Impact Fund</a> </li> <li> <a href="https://sff.org/what-we-do/investments/impact-investing/">Impact Investing</a> </li> <li> <a href="https://sff.org/what-we-do/investments/performance-and-analysis/">Performance and Analysis</a> </li> <li> <a href="https://sff.org/what-we-do/investments/investment-committee/">Investment Committee</a> </li> </ul> </div> </div> </div> <aside id="sidebar" class="sidebar" role="complementary"> <section id='investments' class='stag-custom-widget-area '><div id="media_image-15" class="item widget widget_media_image"><h3 class="widgettitle">From Farm to a Seat at the Table: Impact America Fund’s Journey</h3><figure style="width: 600px" class="wp-caption alignnone"><a href="https://sff.org/from-farm-to-a-seat-at-the-table-impact-america-funds-journey/"><img width="600" height="338" src="https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-600x338.png" class="image wp-image-36209 attachment-medium size-medium" alt="Kaiton Williams and Kesha Cash of Impact America Fund" style="max-width: 100%; height: auto;" title="From Farm to a Seat at the Table: Impact America Fund's Journey" decoding="async" loading="lazy" srcset="https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-600x338.png 600w, https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-1024x576.png 1024w, https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-768x432.png 768w, https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-1536x864.png 1536w, https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash-300x169.png 300w, https://sff.org/wp-content/uploads/2021/04/Kaiton-Williams-and-Kesha-Cash.png 1920w" sizes="(max-width: 600px) 100vw, 600px" /></a><figcaption class="wp-caption-text">Read more about one of our impact investing partnerships.</figcaption></figure></div><div id="fs_info_banner-37" class="item widget widget_fs_info_banner"><div class="info-banner"> <h5>Investments: A Core Tool for Racial Equity</h5> <p>Learn more about how we manage our impact investment strategies while centering racial equity.</p> <div class="btn-block"><a href="https://sff.org/investments-a-core-tool-for-racial-equity/" class="btn">Read More ></a></div> </div></div></section> </aside> </div> <div class="sign-up-block with-border "> <div class="container"> <span class='mark'>Sign Up for SFF Updates</span> <div class="btn-block"> <a href="#popup2" class="btn-link lightbox">sign up<span class="icon-triangle"></span></a> </div> <div class="bg-img" style="background-image: url(https://sff.org/wp-content/themes/tsff-2019/assets/dbt/images/bg2.png)"></div> </div> </div> </main>  <footer id="footer" class="footer" role="contentinfo"> <div class="container"> <div class="footer-block"> <ul class="footer-nav"> <li><a target="" href="https://sff.org/news/">News</a></li> <li><a target="" href="https://sff.org/privacy-policy/">Privacy</a></li> <li><a target="" href="https://sff.org/terms-of-use/">Terms</a></li> <li><a target="" href="https://sff.org/whistleblower-policy/">Whistleblower</a></li> <li><a target="" href="https://bayareaequityatlas.org/">Bay Area Equity Atlas</a></li> <li><a target="" href="https://sff.org/contact-us/">Contact</a></li> </ul>  <ul class=" footer-social"> <li> <a target="_blank" href="https://www.instagram.com/sanfranciscofoundation/"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-instagram menu-item menu-item-type-custom menu-item-object-custom menu-item-34900 fa-stack-1x"></i></span><span class="hidden">Instagram</span></a> </li> <li> <a target="_blank" href="https://www.facebook.com/SanFranciscoFoundation"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-facebook-f menu-item menu-item-type-custom menu-item-object-custom menu-item-27157 fa-stack-1x"></i></span><span class="hidden">Facebook</span></a> </li> <li> <a target="_blank" href="https://www.linkedin.com/company/the-san-francisco-foundation"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-linkedin-in menu-item menu-item-type-custom menu-item-object-custom menu-item-27158 fa-stack-1x"></i></span><span class="hidden">Linkedin</span></a> </li> <li> <a target="_blank" href="https://twitter.com/tsff"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-twitter menu-item menu-item-type-custom menu-item-object-custom menu-item-27159 fa-stack-1x"></i></span><span class="hidden">X</span></a> </li> <li> <a target="_blank" href="https://www.youtube.com/user/tsffvideo/"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-youtube menu-item menu-item-type-custom menu-item-object-custom menu-item-34896 fa-stack-1x"></i></span><span class="hidden">YouTube</span></a> </li> <li> <a target="" href="https://www.tiktok.com/@sanfranciscofoundation"><span class="fa-stack fa-sm"><i class="fas fa-circle fa-stack-2x fa-inverse"></i><i class="fab fa-tiktok menu-item menu-item-type-custom menu-item-object-custom menu-item-44158 fa-stack-1x"></i></span><span class="hidden">TikTok</span></a> </li> </ul>  </div> <ul class="footer-info"> <li>San Francisco Foundation</li> <li> <address>One Embarcadero Center, Suite 1400</address> </li> <li> <address>San Francisco, CA 94111</address> </li> <li><a href="tel:+4157338500">(415) 733-8500</a></li> </ul> </div> </footer> <a class="accessibility" href="#wrapper">Back to top</a> <script> // Used by Gallery Custom Links to handle tenacious Lightboxes //jQuery(document).ready(function () { function mgclInit() { // In jQuery: // if (jQuery.fn.off) { // jQuery('.no-lightbox, .no-lightbox img').off('click'); 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