Markets Shifting. AI Rising. What Does This Mean for the Future of Philanthropy?

Every year, Colorado Gives Foundation hosts an annual investment meeting to reflect on the previous year’s market performance and discuss what we can expect in the year ahead. For our endowment partners and donor advised fund (DAF) holders, this event provides an important opportunity to review how their funds are performing and how we steward those investments to support long-term impact that continues to be aligned with their philanthropic goals.

This year’s event provided insights on the economy, investment strategy and the growing role of artificial intelligence. The program featured two presentations: Robert Morris, executive director of Graystone Consulting, a business of Morgan Stanley, who shared a review of market performance and outlook for 2026, and Jonathan Liebert, chief executive officer and executive director of the Better Business Bureau of Southern Colorado and the Southern Colorado Impact Group, who explored how nonprofits can thoughtfully use artificial intelligence.

Robert Morris: Investment Insights + 2026 Look Ahead

Robert Morris began with a recap of global market performance in 2025. Global stocks gained 22.3% last year, with the S&P 500 rising nearly 18%. International markets led the way, gaining 31.2%, while bonds also posted positive results, helping support diversified portfolios.

Morris noted that markets experienced volatility throughout the year, including a temporary decline tied to tariff-related uncertainty. However, companies adjusted quickly and markets recovered, reinforcing the importance of maintaining a long-term investment perspective.

“The markets do climb a wall of worry,” Morris said. “Take comfort in the long-term nature of your funds. It will serve you better than worrying about the short-term events of the world.”

Looking ahead, Morris shared a cautiously optimistic outlook. His firm expects continued market expansion, though leadership may broaden beyond the large technology companies that have dominated recent returns. He also highlighted several trends to watch in 2026, including continued investment in artificial intelligence infrastructure, the potential resurgence of U.S. manufacturing and ongoing questions around inflation, interest rates and job market confidence.

Morris closed by reviewing Colorado Gives Foundation’s portfolio performance. The long-term portfolio gained about 14% in 2025, while the short-term portfolio returned 8.6%. Both portfolios continue to perform as intended, balancing growth with long-term stability.

Tim Zeckser: Update on Endowments

Partnering with Colorado Gives Foundation makes it easier to build long-term support for your nonprofit’s mission. With 140+ partners and over $60 million stewarded, we offer trusted expertise and support, plus opportunities like a match for new and existing endowment partners and access to below-market rate loans for growth and capital projects for existing endowment partners. Get more info and inquire here.

Jonathan Liebert: Leveraging Artificial Intelligence to Make Good Happen

Jonathan Liebert closed the meeting with a presentation on the rapid evolution of artificial intelligence and its implications for nonprofits.

Liebert described artificial intelligence as one of the most transformative technologies of our time and encouraged nonprofit leaders to approach it with curiosity and clear strategy. While many organizations remain early in adoption, he highlighted its potential to support fundraising, marketing, research and operational efficiency.

He encouraged nonprofits to build artificial intelligence literacy by training staff, developing policies and identifying practical use cases that save time and support mission-driven work. At the same time, he emphasized the importance of using these tools responsibly and ensuring they strengthen, rather than replace, the human relationships that sit at the heart of nonprofit work.

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