{"id":1134,"date":"2020-04-16T17:00:00","date_gmt":"2020-04-16T21:00:00","guid":{"rendered":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/nepc-survey-endowments-and-foundations-expect-covid-19-recession-to-be-similar-to-2008\/"},"modified":"2021-11-02T19:09:24","modified_gmt":"2021-11-02T23:09:24","slug":"nepc-survey-endowments-and-foundations-expect-covid-19-recession-to-be-similar-to-2008","status":"publish","type":"newsroom","link":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/nepc-survey-endowments-and-foundations-expect-covid-19-recession-to-be-similar-to-2008\/","title":{"rendered":"NEPC Survey: Endowments and Foundations Expect COVID-19 Recession to be Similar to 2008"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column][vc_column_text uncode_shortcode_id=&#8221;208310&#8243;]BOSTON&#8211;(BUSINESS WIRE)&#8211;NEPC, LLC one of the industry&#8217;s largest independent, research-driven investment consulting firms, today announced the results of their endowments and foundations <a href=\"\/insights\/taking-stock-endowments-and-foundations-flash-poll\" target=\"_blank\" rel=\"noopener\">COVID-19 flash poll<\/a>. This poll examines how these organizations are shifting their strategies amid the coronavirus pandemic.<\/p>\n<p><!--more-->The results show:<\/p>\n<ul>\n<li><strong>The majority (55%) of endowments and foundations expect a severe recession similar to that of 2008. <\/strong>Forty-one percent of total respondents are more optimistic and expect a short, sharp COVID-19-driven recession followed by a strong recovery.<\/li>\n<\/ul>\n<ul>\n<li><strong>The majority (61%) of organizations are rebalancing their portfolios in response to recent market moves<\/strong>, with 14% working to raise additional cash and 13% reducing their overall risk exposure. Only seven percent of all respondents indicated they are taking no action at all.<\/li>\n<\/ul>\n<ul>\n<li><strong>The majority (61%) of respondents are also taking immediate action to reduce their costs, expenses, and spending rate to protect the corpus. <\/strong>Education foundations, in particular, are working to reduce their costs and expenses. Fifty-seven percent of these respondents indicated they are currently reducing their costs, most likely in an effort to reposition themselves for a more volatile future. This compares to the 11% of organizations that are increasing their spending rate to further support ongoing operations.<\/li>\n<\/ul>\n<p>&#8220;Our survey highlights a slight disconnect between endowments&#8217; and foundations&#8217; recession outlook and what the market has been experiencing over the past two months,&#8221;\u00a0 said Kristin Reynolds, Partner and Co-Leader of NEPC&#8217;s Endowment and Foundation practice. &#8220;The results also mimic what we&#8217;ve been hearing from our clients &#8211; that all options are on the table. With so much noise and volatility afoot, it&#8217;s imperative that endowments and foundations work with a trusted consultant on portfolio adjustments and robust modeling strategies.&#8221;\u009d<\/p>\n<p>The nonprofit sector is also taking action to support organizations and individuals impacted by the pandemic. More than one-quarter (28%) of private and community foundations are redirecting grants to help address COVID-19 challenges.<\/p>\n<p>This survey was conducted online by NEPC&#8217;s Endowments and Foundations Practice Group in March 2020 amid the COVID-19 outbreak. The survey had 105 respondents across education endowments and community, family, private, and public charity foundations. Copyright is held by NEPC.<\/p>\n<h3><strong>NEPC, LLC:<\/strong><\/h3>\n<p>Employee-owned NEPC is one of the industry&#8217;s largest independent, full-service investment consulting firms, serving over 350 retainer clients with total assets over $1.2 trillion. To learn more about NEPC, visit nepc.com[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text uncode_shortcode_id=&#8221;208310&#8243;]BOSTON&#8211;(BUSINESS WIRE)&#8211;NEPC, LLC one of the industry&#8217;s largest independent, research-driven investment consulting firms, today announced the results of their [&hellip;]<\/p>\n","protected":false},"author":95,"featured_media":1115,"template":"","meta":{"content-type":"","footnotes":""},"newsroom_categories":[87],"newsroom_tags":[82,88],"class_list":["post-1134","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","newsroom_categories-press-releases","newsroom_tags-press","newsroom_tags-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NEPC Survey: Endowments and Foundations Expect COVID-19 Recession to be Similar to 2008<\/title>\n<meta name=\"description\" content=\"This survey was conducted online by NEPC\u00e2\u20ac\u2122s Endowments and Foundations Practice Group in March 2020 amid the COVID-19 outbreak.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/nepc-survey-endowments-and-foundations-expect-covid-19-recession-to-be-similar-to-2008\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NEPC Survey: Endowments and Foundations Expect COVID-19 Recession to be Similar to 2008\" \/>\n<meta property=\"og:description\" content=\"This survey was conducted online by NEPC\u00e2\u20ac\u2122s Endowments and Foundations Practice Group in March 2020 amid the COVID-19 outbreak.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nepc.com\/private-wealth\/newsroom\/nepc-survey-endowments-and-foundations-expect-covid-19-recession-to-be-similar-to-2008\/\" \/>\n<meta property=\"og:site_name\" content=\"NEPC - 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