Page 34 - May JSF Report

FFOG CONFERENCE REPORT
Foundation Financial Officers Group (FFOG) Hybrid Spring Conference April 18-21, 2023 in Chicago, Illinois
By: Richard A. Krause
There were 96 participants in person attending this conference from throughout the U.S. and Europe and 41 participants joining by Zoom.
These conferences provide an excellent opportunity to meet and make friends and contacts with financial staff personnel from over 200 of the largest private foundations mainly in the US but some from Europe also. Approximately 25% of these foundations are smaller like us and have total assets of less than $250,000,000, with 50% of the foundations holding assets of less than $500,000,000. Another 25% have total assets in the billions, like the Gates Foundation. The balance of the foundations are in between. These members come together twice per year, usually in April/May and October and usually alternating from the East Coast to the Midwest to the West Coast, with occasional meetings in Europe every fifth year. The October 17-20, 2023 meeting will be in Seattle, WA then April or May, 2024 in New York. In between meetings there is an active website where members can originate questions and get feedback from other foundations. There are also three major surveys each year that include Investments, Compensation and Administrative costs with information available to all who participate.
The conferences always include topics on both administrative issues and investment topics. Investment topics at this meeting included:
• John W. Rogers, Founder, Chairman, Co-CEO & Chief Investment Officer, Ariel Investments spoke on “Patient Contrarianism and the Importance of Diversity” interviewed by Mark Baumgartner, Chief Investment Officer, Carnegie Corporation of New York.
• Ashok Bhatia, Deputy Chief Investment Officer for Fixed Income, Neuberger Berman spoke on “Back to the Future” moderated by Joshua Fenton, Director of Public Markets, The Leona M. and Harry B. Helmsley Charitable Trust.
• Michael Greenstone, Milton Friedman Distinguished Service Professor in Economics, University of Chicago spoke on “Climate Change and the Energy Transition – Opportunities and Risks” moderated by Mark Baumgartner, Chief Investment Officer, Carnegie Corporation of New York.
• Jeffrey Heil, FFOG Emeritus, moderated “Uncovering Gems: Investing in Global Emerging Markets Small Caps” presented by Mark Weber, Lead Portfolio Manager for the Oberweis Emerging Markets Fund, Oberweis Asset Management.
• FFOG Investment Survey – Timothy Otto, Director of Finance and Investments, Van Leer Group Foundation, Matt Aguiar, Chief Financial and Operating Officer, The Christenson Fund, and Josh Oliveri, Investment Analysis, The Heinz Endowment presenting the 2022 results.
• “The Enduring Puzzles of Money and Inflation” was presented by Thomas Coleman, Executive Director, Center for Economic Policy at University of Chicago Harris School of Public Policy moderated by Laurence Siegel, FFOG Investment Thought Leader.
• “VC Landscape Has Shifted” presented by Jan Garfinkle, Founder and Managing Partner, Arboretum Ventures moderated by Joshua Fenton, Director of Public Markets, The Leona M. & Harry B. Helsley Charitable Trust.
• “Impact Investing – It’s a Journey” presented by a panel made up of Kathleen Simpson, Chief Executive Officer, The Russell Family Foundation; Susan Dorsey, Senior Vice President-Finance, Administration and Impact Investing, Gates Family Foundation; Debra Schwartz, Managing Director, Impact Investing, MacArthur Foundation and moderated by Rochelle Witharana, Chief Financial Officer, The California Wellness Foundation.
Page 32 May Report