Appropriately, the concern related to the spread of COVID-19 Coronavirus has captured the nation’s attention. We want you to know that, at PPCF, our business continues as normal, and that we are doing all we can to promote good hygiene and a clean office environment for our visitors and team. In addition, we are paying close attention to the impact of this public health concern on the financial market, our community, and how philanthropy is responding.
Here's a little about how we are managing this issue:
- From an investment perspective, remember that the overall investment strategy philosophy is focused on the long-term and relies on a well-diversified portfolio to manage risk and volatility. This strategy means assets are invested to perform well over time. Market fluctuations are expected, and so we maintain the ability to capture returns in up markets, while protecting against severe spikes in down markets. For example, our pooled investment account at Morgan Stanley in 2019 captured approximately 75% of the returns of the market in up markets, and only 50% of the loss in down markets. We believe we are currently positioned well to weather the storm.
- From a philanthropic perspective, most activity has been from corporations, governments, and large foundations. We have included an initial overview of philanthropic activity from Candid below. In addition, the Center for Disaster Philanthropy has indicated that philanthropic institutions can assist through advocacy, messaging, and keeping an eye on the impact to community safety net organizations and small business should an outbreak occur locally. That said, we will remain vigilant as to how this may affect individuals, families, and businesses in our community in the coming weeks.
- From a fund holder perspective, remember you have multiple ways to engage with the PPCF team. You continue to be able to utilize DonorCentral from the comfort of your home to continue your grantmaking. Should you wish to meet with or consult our team, we certainly welcome you to our office, but are equally happy to schedule phone meetings, as well.
- From a professional adviser perspective, much of the work to establish a new fund or estate gift can be done electronically. We are happy to schedule virtual meetings and are able to conduct all aspects of our business virtually.
We stand ready to serve you and our community as best we can. Thank you for your continued support.
