TIAA Brings Together Endowment Management and Planned Giving Teams to Form ‘TIAA Endowment & Philanthropic Services’

NEW YORK, Jan. 29 -- The Teachers Insurance and Annuity Association issued the following news release:

TIAA today announced TIAA Endowment & Philanthropic Services, which brings together the company's endowment and planned giving services under one umbrella organization. In addition, a separate 501(c)(3), TIAA Charitable, will complement these services, providing institutional donor-advised fund solutions. The new structure is designed to meet the growing need among institutional clients to be able to access a comprehensive set of endowment and philanthropic services.

"With an increasingly complex regulatory environment, pressures on fundraising, and donors' interest in how institutions are using their gifts, we believe our clients would benefit from a unified and simplified approach to endowment and philanthropic services," said Roger W. Ferguson, Jr., president and CEO of TIAA. "For 100 years, we have continued to evolve our business to meet the needs of our clients. Bringing these services together is the latest example of our commitment to the success of organizations dedicated to making a difference, and it's an exciting way to mark the start of another century of service."

TIAA Endowment & Philanthropic Services1 will offer services for institutions of all sizes including:

* An outsourced chief investment officer (OCIO) solution, through TIAA Endowments, offering endowment management as well as consulting support on issues such as governance, risk management, and spending policy to help nonprofit organizations more effectively manage their endowments in a cost-effective way. Institutions can access a range of open architecture as well as proprietary investment solutions, including portfolios with high quality alternative asset managers as well as ESG options.

* Comprehensive and integrated planned gift investment, administrative, consulting, and reporting services, through TIAA Kaspick, designed to aid nonprofits in their efforts to raise more valuable gifts, create satisfied donors, and manage program-related risks. TIAA Kaspick is a market leader in the administration and management of planned gifts, with a 28 year history and approximately $7.0 billion in assets under management.2

In addition, a separate 501(c)(3), TIAA Charitable3, will complement services provided by TIAA Endowment & Philanthropic Services, by providing turn-key, custom-branded institutional donor-advised fund solutions to help institutions expand their fundraising capabilities.

"Through our investment expertise and experience serving nonprofit clients we offer tailored, holistic services that help institutions achieve long-term financial well-being," said Kevin O'Leary, CEO of TIAA Endowment and Philanthropic Services. "We believe TIAA Endowment & Philanthropic Services is unique in providing this depth and breadth of service and talent, and is committed to helping ensure that nonprofits have the resources and support they need to fulfill their missions."

More information about TIAA Endowment & Philanthropic Services is available at www.tiaa.org/teps .

Footnotes:

1. TIAA Endowment & Philanthropic Services ("TEPS") is the business unit through which TIAA offers endowment management and planned giving services. TEPS operates through subsidiaries of TIAA including Covariance Capital Management, Inc., Kaspick & Company, LLC and TIAA, FSB. Covariance Capital Management, Inc. and Kaspick & Company, LLC are investment advisers registered with the Securities and Exchange Commission. TIAA, FSB is a federal savings bank. Registration does not imply a certain level of skill or training.

2. As of 12/31/17

3. TIAA Charitable, Inc. has been recognized by the Internal Revenue Service as a tax-exempt public charity under Sections 501(c)(3) and 170(b)(1)(A)(vi) of the Internal Revenue Code of 1986, as amended (the "Code"). TIAA Charitable is the brand name for an independent public charity that maintains a donor-advised fund program. The TIAA name is a registered mark of Teachers Insurance and Annuity Association of America and is used by TIAA Charitable pursuant to a license.

4. The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years' Consistent Return for eligible funds over the three-year period ended 11/30/12 (36 fund companies), 11/30/13 (48), 11/30/14 (48), 11/30/15 (37) and 11/30/16 (34) with at least five equity, five bond or three mixed-asset portfolios. For the Mixed-Assets category TIAA ranked against 39 and 36 fund families for the three-year period ended 11/30/15 and 11/30/16, respectively. Note these funds pertain to mutual funds within the TIAA-CREF group of mutual funds; other funds distributed by Nuveen Securities were not included. From Thomson Reuters Lipper Awards, Copyright (c) 2017 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Past performance does not guarantee future results. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance and rankings, please visit the Research and Performance section on TIAA.org. TIAA-CREF Individual & Institutional Services, LLC, Members FINRA and SIPC.

5. Based on assets under management across Nuveen affiliates and TIAA managed assets as of 12/31/17.