TITLE

Salvation Army changes likely after $1.5 billion gift

AUTHOR(S)
Burr, Barry B.
PUB. DATE
February 2004
SOURCE
Pensions & Investments;2/9/2004, Vol. 32 Issue 3, p33
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The estimated $1.5 billion gift from the Joan Kroc estate to the Salvation Army will increase the size of its four endowment funds by 30% to 45% and compel changes to asset allocation strategies and managers, officials said. The Salvation Army, based in Alexandria, Virginia, breaks out its endowment funds— currently totaling some $4 billion— into four territories. Territory officials expect the Kroc money won't be available before the end of June. Colonial Consulting Corp., New York, is investment consultant to all but the Western fund, which uses Wilshire Associates Inc., Santa Monica, California.
ACCESSION #
12322097

 

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