FYI: Charitable giving is on a lot of people’s minds this time of year. It’s worth noting that while many nonprofits promote great causes, few are great at managing money.
A new research paper looks at the investment returns of a huge sample of nonprofits and finds they’ve been abysmal: From 2009 through 2016, these endowment funds returned an average of 6.7% annually, compared with 12.2% for U.S. stocks, 10.5% for a 60/40 mix of stocks and bonds, and 8% for U.S. Treasurys.
Regards,
Ted
https://www.wsj.com/articles/why-charities-do-goodbut-not-wellwith-your-money-1543402800?mod=searchresults&page=1&pos=1
