In Response to the COVID-19 Virus
March 13, 2020
We're in this for the long haul...together.
Dear Philanthropists and Nonprofit Partners,
The phrase “market volatility” has an entirely different meaning this week. I am writing to update you on how MCF is managing through this declared pandemic and offer suggestions for how philanthropy can help during this turbulent time. The recent events happening around the world in response to the COVID-19 virus are definitely affecting the market. As we face an uncertain and volatile market, I want to reassure you that MCF is keeping a close eye on what is happening. We are paying attention, we are concerned, and we are not panicking.
As you know, we do not attempt to time the market. Our pooled investment portfolio is constructed with focus on the long term. We are watching the markets closely and have been in regular contact with our outsourced Chief Investment Officer at Cambridge Associates. His most recent update held an important reminder “the portfolio is explicitly designed to weather equity market volatility with a long-term time horizon in mind.” In short, we are in it for the long haul. We are well-positioned to weather this storm until the markets recover. We are staying the course.
We also understand the adverse effects of this pandemic and uncertain markets have on our nonprofit partners around the state. We are facing unprecedented times as a community and are deeply concerned about the social and economic impacts of the outbreak. We recognize the growing needs our nonprofit partners and the communities they serve will have in the coming weeks. We remain steadfast in our commitment to strengthening those communities through philanthropy as they face this crisis.
Within the last few days, our lives have been disrupted. Cancellations have become the norm. From sporting events to special event fundraising events to community gatherings, things we had planned on are being rescheduled. Nonprofit organizations that serve our most vulnerable populations rely on income from these activities to meet their missions. Please consider making an extra gift to the organizations you care about during this time of uncertainty. They need our support now. If you have a Donor Advised Fund at MCF with funds available for granting, please consider making grants from those funds. We’re all in this together.
As always, we appreciate your partnership and thank you for your trust. Together we can come out of this crisis and continue to cultivate a culture of giving so Montana communities can flourish.
Mary K. Rutherford
President & CEO