Having a learning community dedicated specifically for foundation finance officers will give us a place to discuss the issues we’re all grappling with and, more importantly, to brainstorm solutions.
- Janice Thomas, CFO, The Meyer Foundation
The fiduciary oversight requirements for private foundations are different from those of traditional 501(c)(3) nonprofit organizations. Foundation finance officers must not only understand traditional accounting rules, they must also be familiar with required legal and tax filings (such as the 990-PF), have a working knowledge of endowment management, including staying up-to-date with trends such as impact and mission-related investing, and applying an equity lens to the finance function.
WRAG’s Finance & Administration Affinity Group helps finance and administrative professionals support their organizations' philanthropic missions by providing:
- professional development, best practice sharing, and sample resources
- purposeful networking
- information about emerging trends
The Finance & Administration Affinity Group is generously sponsored by
2019 Events (more coming soon!)
Recognizing & Prioritizing Risk Management
March 27, 2019
9:30AM - 11:00AM
Risk can be found in all areas of a foundation’s operations, and it’s often the least obvious areas that can catch you by surprise. That’s why assessing, managing, and mitigating risk are critical endeavors for most foundations. In this session, we’ll take a look at how to conduct a risk inventory, the first step in identifying where your organization is vulnerable to risk. We’ll then look at simple steps that can be taken to strengthen and integrate risk management into your organization, with a special emphasis on operations, information technology, finance, and talent management.
Speaker: Ted Bilich, Founder and CEO, Risk Alternatives LLC
SESSION 1: Looking for Returns in Alternative Places
Elevated equity evaluations, low yields, and the expectation of higher volatility as we head into 2018 make alternative investments an attractive option for investors. However, a number of issues need to be discussed before a foundation considers adding alternative investments to its portfolio. In this session, we will examine a variety of alternative investments (i.e. private equity, hedge funds, social impact bonds, and more) and we will talk about key considerations for each.
Speaker: Elizabeth Cabell Jennings, Director of Institutional Investments – SunTrust Banks Inc.
SESSION 2: Managing your Investment Manager and Understanding the Associated Costs
In this session, we will cover what you should know and consider before, during, and after the RFP process. We will examine key considerations and the types of questions that should be asked at each stage. We will also place special emphasis on understanding and evaluating investment costs, as this is an important but often challenging aspect of financial management. We will look at the various types of costs that investors pay – disclosed and undisclosed – and look at the typical ranges for each cost. We will examine the factors that influence costs, the categories of cost components, and methodology that may be helpful to understanding more fully what your organization pays for investment management.
Speaker: John W. Church, III, CFA, Managing Director - Glenmede Endowment and Financial Management
SESSION 3: Operationalizing Equity - Who Handles the Money?
Over the last few decades, there has been significant progress made in the areas of diversity, equity and inclusion, which has paved the way for diverse investment management professionals and the firms they lead. Further, many studies have shown that small independent investment management firms – a number of which are led by people of color - outperform their larger counterparts in many asset classes. Yet, foundations have been slow to invest with small firms or actively seek diverse asset managers. This is a missed opportunity to leverage new investment talent and enhance financial returns. This session will examine best practices and look at some strategies that foundations have followed to drive equity through investment management.
- Caroline Greer, Commonfund
- Phillipa Taylor, Public Welfare Foundation
- Janice Thomas, Meyer Foundation
Finance & Administration Affinity Group Planning Committee:
Quanda Allen, Group Vice President, SunTrust Foundations & Endowments Specialty Practice
Christine Harris, Director of Finance & Administration, Hill-Snowdon Foundation
Phillipa Taylor, Chief Financial & Adminstrative Officer, Public Welfare Foundation
Janice Thomas, CFO, Eugene & Agnes E. Meyer Foundation
Rita Cook, CFO, Washington Regional Association of Grantmakers
If you are a foundation finance staff member who would like to join this group, please contact Todd Pittman.