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Annual Giving

Planning Your Gift

Investment Results

Committee on Development Meeting

December 12, 2003

Let's begin where we left off at the last meeting. I am reminded of the most important planned gift maxims. First, donors make contributions because they believe in the institution — donative intent is paramount. Second, as I have said many times in these meetings, everyone associated with Hamilton is involved in planned giving — the President, every trustee, every development officer. For example, Librarian Ericson has been working on a contribution of a significant collection of archival materials that will mamke Hamilton's Shaker Collection one of the five best in the country. Property gifts are complex; Mr. Ericson has sought and received advice from planned gift personnel on various aspects of the contribution.

In past meetings, we have often discussed timely strategies and gift vehicles. It occurred to me that, given the fiduciary responsibility of the trustee and your interest in the ultimate value of the contributions to Hamilton, you would find investment results and present value analysis of interest.

Kaspick & Company manages over $33 million in planned gifts for Hamilton. For the period ended September 30, 2003, the portfolio achieved a total investment return of 5.5% for the quarter and 20.8% for the year. A chart compares Performance by Investment Objective (Adobe PDF) to its respective multi-asset benchmark.  A second chart illustrates (Adobe PDF) how the assets under management are invested by Portfolio Type and by Investment Objective.

Perhaps even more important, each year Kaspick prepares a Comparative Statistics Report (Adobe PDF) that allows each client to see how it compares to Kaspick's other 54 clients (Adobe PDF). The Summary Data provided on the fourth attachment reveals that Hamilton has the highest Present Value ratio of all clients, when gift annuities and pooled income funds are included.

In my view, there are four reasons for Hamilton's ranking:
1.) Donative intent.
2.) The contributions were structured with maximum benefit to Hamilton in mind.
3.) Exceptional management by the Committee on Investments prior to the move to Kaspick.
4.) Solid results by Kaspick.

Ten charitable remainder unitrusts, with a September 30, 2003, market value of $20,290,000 remain commingled with Hamilton's endowment.


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