Tag: Endowment

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Episode 61 – How Endowments (Especially Schools) Can Navigate Market Volatility With Katharine Wyatt

Episode 61 – How Endowments (Especially Schools) Can Navigate Market Volatility With Katharine Wyatt

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Many nonprofits, especially schools, are contending with rising costs, challenged revenue streams, and regulatory matters — all of it in a tumultuous market environment.

In this episode, Bob DiMeo and Devon Francis speak with Katharine Wyatt, CFA chief investment officer at Loyola University Chicago. Katherine shares timely insights on how nonprofits and endowments can thrive in the current environment by adapting their asset allocation and portfolio management.

You will learn:

  • How Loyola University’s endowment of over $1 billion is navigating the current markets
  • Katherine’s views on why active management is far from dead
  • The impact of the demographic cliff on higher education (and how to deal with it)
  • Example of how Loyola University created a mission-aligned investment strategy
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | Katharine Wyatt on LinkedIn | Loyola University Chicago

About Our Guest:

Katharine Wyatt, CFA, is the Chief Investment Officer at Loyola University Chicago. Ms. Wyatt has over 20 years of experience in the investment industry and is a well-rounded asset allocator with experience managing large institutional portfolios and investing across public and private asset classes. At Loyola, Ms. Wyatt leads the University’s investment office, where she is responsible for investment policy and management of over $1.5 billion in endowment, operating reserves and defined benefit pension assets. 

Prior to joining Loyola, she was Director of Investments for Abbott Laboratories retirement plans which included over $18 billion in Defined Benefit and Defined Contribution assets. At Abbott, she was responsible for oversight of investments, including selection, due diligence and monitoring of external managers and was instrumental in building the alternative investments program. Ms. Wyatt started her career as a research analyst at a multi-family investment office covering hedge fund, private equity and private real asset investments.

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Episode 58 – True or False? Answering Key Investment Questions For Nonprofit Leaders

Episode 58 – True or False? Answering Key Investment Questions For Nonprofit Leaders

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Is ESG here to stay? Will active investing have its turn in the sun? Can international markets finally outperform domestic markets? Does cryptocurrency belong in an endowment portfolio?

These are common investment-related questions that nonprofit leaders and people overseeing endowments might have.

In this episode, Bob DiMeo and Devon Francis answer the above questions and more. They also share Fiducient Advisors’ outlook for 2023 and beyond.

You will learn:

  • What is driving the growth of ESG investing despite political backlash and greenwashing
  • Valuable insights into active vs. passive investing and domestic vs. international markets
  • Why cryptocurrency might not become an integral part of an endowment portfolio
  • The importance of portfolio diversification
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | US SIF: The Forum for Sustainable and Responsible Investment | US SIF 2022 Trends Report

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Episode 57 – How Nonprofits Can Add “Sustainability” to Your Endowment With Dr. Troy Hammond

Episode 57 – How Nonprofits Can Add “Sustainability” to Your Endowment With Dr. Troy Hammond

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As part of your ESG goals, you might be screening certain investments before adding them to your endowment’s portfolio.

If you want to amplify your impact, adding a “sustainability fund” might help.

In this episode, Bob DiMeo and Devon Francis speak with Dr. Troy Hammond, a scientist, business leader, and entrepreneur who served as North Central College’s president for nearly 10 years until July 2022. Troy shares actionable strategies for effective endowment management and mission-aligned investing.

You will learn:

  • Three reasons why renewable energy projects fail (despite having a positive return potential)
  • How a “sustainability fund” can provide long-term steady income yield
  • Ways to improve endowment governance and align all stakeholders
  • Troy’s best advice to set nonprofit leaders up for future success
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Dr. Troy Hammond | North Central College | TEDx Talks: Sustainability: Why Universities Can Lead by Example With Dr. Troy Hammond | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | “Social Enterprise 2.0: The OWP Difference” by Mike Hamel | “Powering Social Enterprise with Profit and Purpose: The Tandem Hybrid” by Scott Boyer, Jeremy Gudauskas and Mike Hamel

About Our Guest:

A scientist, business leader and entrepreneur, Dr. Troy D. Hammond brought visionary leadership to North Central College over his nearly 10 years as president. Hammond launched his presidency with the bold Brilliant Future Campaign, a $150 million fundraising initiative—the most ambitious capital campaign in the College’s history—which brought sweeping physical changes to campus. He also created the Cardinal Sustainability Fund, which led to significant LED lighting and solar projects across campus. During Hammond’s tenure, several Cardinal athletic programs soared to new heights, including the College’s first-ever football national championship in 2019 and multiple national championships in other sports.

Prior to joining North Central, Hammond was at McKinsey & Company, a global leader in management consulting, where he became an associate principal. He then joined Plextronics, Inc., helping raise substantial venture and strategic capital and growing the technology company into a global leader in printed electronics. During this time, he also served as an adjunct professor of business at Milligan College.

 

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Episode 55 – A Leader’s Guide to Organization-Wide Diversity, Equity, Inclusion, and Belonging With Karen Paulson

Episode 55 – A Leader’s Guide to Organization-Wide Diversity, Equity, Inclusion, and Belonging With Karen Paulson

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Being part of a diverse organization does not guarantee everyone feels valued and welcome. It’s crucial to simultaneously and intentionally focus on equity, inclusion and belonging.

Moreover, DEIB is not only the right thing to do, but research shows it can also produce better outcomes.

In this episode, Bob DiMeo and Devon Francis speak with Karen Paulson, partner and senior consultant at Fiducient Advisors, who also chairs the firm’s Diversity, Equity & Inclusion Steering Committee. Karen provides meaningful insights and inspiration to all stewards looking to advance their DEIB objectives.

You will learn:

  • Macro trends in the DEIB space, especially in the investment management industry
  • Various DEIB initiatives at Fiducient — and the three primary pillars that support these initiatives
  • How organizational leaders can develop diverse talent and an inclusive culture
  • Best practices to create DEIB awareness and align boards and committees
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Karen Paulson | Email Karen | Insights by Fiducient Advisors (Research, Blogs, Podcasts) | Year Up | National Black MBA Association® | National Association of Black Accountants | Women’s Association of Venture and Equity | Women Investment Professionals | Chicago Financial Women | Institutional Investing Diversity Cooperative

About Our Guest:

As a Partner and Senior Consultant, Karen services institutional clients, including 401(k) and tax-exempt retirement plans and nonprofit endowments and foundations, by providing advice and counsel on all areas of fund oversight including policy, asset allocation, manager research, portfolio structure, portfolio rebalancing, performance monitoring and overall investment policy. Karen is chair of the firm’s Diversity, Equity & Inclusion Steering Committee and is a member of the firm’s Defined Contribution Strategic Oversight Committee, Mission-Aligned Investing Committee and Employee Engagement Team. Karen co-founded Fiduciary Investment Advisors, LLC in 2006, which combined with Fiducient Advisors in 2020.

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Episode 54 – Four Action Items To Combat Market Volatility and Uncertainty

Episode 54 – Four Action Items To Combat Market Volatility and Uncertainty

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The traditional 60/40 stock/bond portfolio is on pace for its worst performance in 80 years and Treasury bonds might register their worst performance in 200 years! Investor anxiety seems to be rising in lock-step with interest rates.

All this contributes to a high level of uncertainty for those who oversee endowments and foundations.

In this episode, Bob DiMeo and Devon Francis help investment committees (or any nonprofit leader overseeing investments) combat market uncertainty through four key action items.

You will learn the following:

  • Why good stewards need to separate today’s news from the noise
  • Important considerations regarding expected investment returns moving forward
  • Insights into alternative asset classes, especially in light of higher interest rates
  • An important step in ESG investing that many organizations are overlooking
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Insights by Fiducient Advisors (Research, Blogs, Podcasts)

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Episode 53 – The Secret Sauce for High-Performing Nonprofit Organizations with Jeffery Perry

Episode 53 – The Secret Sauce for High-Performing Nonprofit Organizations with Jeffery Perry

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High-performing organizations are characterized by strong leadership, a clear goal, and strategic investments.

In this episode, Bob DiMeo and Devon Francis speak with Jeffery Perry, founder & CEO of Lead Mandates LLC. They discuss the major drivers of success for high-performing organizations (especially nonprofits).

You will learn the following:

  • The importance of having a clear sense of purpose for your organization
  • Evolution in asset allocation strategies and endowment management
  • The key to authentic ESG investing (and the impact of the “peanut butter approach”)
  • Personal leadership insights for nonprofit leaders
  • And more!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Jeffery Perry on LinkedIn | Lead Mandates LLC | “Authentic ESG—Not Whac-A-Mole nor Peanut Butter” by Jeffery Perry | “Great Resignation Refocused as Great Reengagement” by Jeffery Perry | “At Your Side for The Rough Ride” by Bob DiMeo

About Jeffery Perry:

Jeff is the Founder & CEO of Lead Mandates LLC, an advisory firm that helps organizations improve business and leadership performance. He is a global strategic business advisor with relevant experience that spans 20 years combined as partner at Ernst & Young LLP (EY) and A.T. Kearney. He is a highly skilled and passionate leader in mergers and acquisitions (M&A), integrations, divestitures, and business transformations, linking strategy to purpose-led leadership and execution.

Jeff is a member of corporate and non-profit boards including: Board Director, Fortune Brands Home & Security, Inc. (NYSE: FBHS); Independent Director (Trustee), Equitable Funds; Board of Trustees Chair, Babson College; Board Chair, Chicago Children’s Museum; Former Board Chair, INROADS Inc.; Board Director, National Association of Corporate Directors (NACD) Chicago Chapter; Board Director, Harvard Business School African-American Alumni Association; Association of Governing Boards of Universities and Colleges (AGB) Council of Board Chairs. In addition, he is included in Savoy Magazine 2021 Most Influential Black Corporate Directors and Financial Times Agenda Diversity 100.  

Jeff received his B.S. in Marketing/Quantitative Methods, with high distinction, from Babson College and M.B.A. from Harvard Business School.

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Episode 51 – Hedge Funds Revisited With Anthony Novara

Episode 51 – Hedge Funds Revisited With Anthony Novara

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Some investment committees are reluctant to own alternative investments because they don’t understand the space well.

Or perhaps they are intimidated due to the complexity and cost.

In this episode, Bob DiMeo and Devon Francis speak with Anthony Novara, CFA®, research director of Fiducient Advisors’ marketable alternatives group. They demystify hedge fund investing and its role in effective portfolio management, especially amidst high market volatility.

You will learn:

  • Five primary strategies used in hedge funds investing
  • Major pros and cons of hedge funds for endowments and foundations
  • Fund of funds — how they work, fee structures, and investment benefits
  • Why the notion “hedge funds are inherently riskier” may not always true
  • And more!

Tune in to learn how to navigate hedge funds and other forms of alternative investments!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Anthony Novara on LinkedIn | Anthony Novara BIO | Nonprofits and Private Equity With Matt Kaminski (Ep. 29)



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Episode 40 – How Museums and Attendance-Dependent Nonprofits Can Thrive Post-COVID with Laura Lott

Episode 40 – How Museums and Attendance-Dependent Nonprofits Can Thrive Post-COVID with Laura Lott

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Does your nonprofit’s success rely heavily on memberships and attendance?

If yes, then it’s likely that your organization faced a major downturn due to COVID-19.

In this episode, Bob DiMeo and Devon Francis speak with Laura Lott, president and CEO at American Alliance of Museums. They discuss strategies to help attendance-dependent nonprofits, such as museums and zoos, thrive post-COVID.

You will learn:

  • New ways to engage your community and monetize your services
  • Why many organizations lack financial sustainability in the first place
  • Tips for more effective investment and spending policies
  • How investment committees can approach ethical investing
  • And more!

Tune in to learn how you can help attendance-dependent nonprofits prosper! 

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | Laura Lott on LinkedIn | American Alliance of Museums (AAM) | AAM 2022-2025 Strategic Framework | How Museums Can Ethically Invest Their Money | Endowment and Foundations at Fiducient Advisors

About Our Guest:

Laura L. Lott began her tenure as president and CEO of the American Alliance of Museums in June 2015. A results-oriented, entrepreneurial, strategic leader with a track record of setting and achieving aggressive programmatic and financial goals, Laura served as the Alliance’s chief operating officer since 2010. Laura also led the 2012 re-launch of the Alliance, including rebranding the organization and rebuilding its technical infrastructure and web/mobile presence, and redesigning its membership and excellence programs — leading to a nearly 70 percent increase in museum membership and the organization’s first three profitable years in a decade. Prior to her work at the Alliance, Laura guided the evolution and growth of several nonprofit education organizations. Most recently, Laura served as chief financial officer and chief operating officer of The JASON Project, an international nonprofit education program at the National Geographic Society with a mission to inspire and motivate students to learn science through great explorers and events.

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Episode 38 – How Nonprofits Should Manage Large Cash Inflows with David Piccerelli

Episode 38 – How Nonprofits Should Manage Large Cash Inflows with David Piccerelli

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There may come a time when your nonprofit experiences a large inflow of cash. For some organizations, this happens when they’re not expecting it at all!

In this episode, Bob DiMeo and Devon Francis speak with David Piccerelli, president at WSBE Rhode Island PBS and a client of Fiducient Advisors, who has experience in managing an endowment that went from zero to $80 million overnight.

You will learn:

  • The first step you should take before investing your newfound wealth
  • How to have an investment committee and an asset allocation strategy prepared in advance
  • Potential impact of large cash inflows on your organization’s operations
  • How Rhode Island PBS built a roadmap for its strategic vision
  • And more!

Tune in to learn how you can effectively manage and invest your newfound wealth!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | David Piccerelli on LinkedIn | Rhode Island PBS | Our Research and Insights | Our Blog | Our Podcast

About Our Guest:

David Piccerelli is the president of WSBE Rhode Island PBS, a role that he assumed in 2010 after having served as PBS’ vice-president and chief financial officer. David has overseen some very impressive projects and endeavors during his tenure with Rhode Island PBS, including shepherding the station’s complex multimillion dollar conversion from analog to digital broadcasting in 2009 and moving from state ownership to becoming an independent community licensee in 2012. David holds a BS in accounting from Bryant University and serves on a number of professional public broadcasting committees and associations. He is a member of the board of Providence Business Loan Fund and is an avid golfer and a food and wine enthusiast.

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Episode 34 – Investment Insights From a Global Religious Congregation with Jim Thomas

Episode 34 – Investment Insights From a Global Religious Congregation with Jim Thomas

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Today, we have Jim Thomas, the CFO of the Clerics of Saint Viator, share timely investment insights for nonprofit investment leaders!

The Clerics of Saint Viator is an international Roman Catholic religious congregation.

In this episode, Bob DiMeo and Devon Francis interview Jim about his experience in managing finances for a religious order. They also dive into several best practices for effective investment portfolio management that are relevant in today’s complex financial landscape.

You will learn:

  • The concept of perpetuity and how to prepare your portfolio for long-term success
  • How to rebalance your portfolio and ensure consistent asset allocation
  • Ways to ensure a more accurate screening of your portfolio for mission-aligned investing
  • Reasons to maintain a continuous dialogue with your organization’s stakeholders
  • And more!

Tune in to discover investment best practices that can help you emulate the success of the Clerics of Saint Viator!

Resources: Email the Stewards | Fiducient Advisors | Bob DiMeo | Devon Francis | The Clerics of Saint Viator

About Our Guest:

Jim Thomas is CFO of the Clerics of St. Viator, an international Roman Catholic religious congregation headquartered just outside of Chicago. The Order has a vast footprint with numerous churches and schools throughout Illinois, other parts of the U.S., South America and beyond. Jim holds an MBA from Northwestern and  degrees in Mechanical Engineering from Purdue University. Prior to joining the order, Jim served in numerous roles in the for-profit world including being COO of an aerospace/defense company, president of a consumer products company and a change agent at other organizations.

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