Endowments and Charities

Board members of charities and endowment funds, particularly those with smaller asset values, are often unaware of their fiduciary responsibility and liability.  Many times, these organizations have no formal procedures, including written investment policies and the selection of investment managers without conflicts of interest.  Donors are requiring more oversight and transparency.

Some of the issues a prudent board member needs to ensure are as follows:

  • the development of a written investment policy statement
  • thorough research and due diligence in the selection of an investment portfolio manager or managers
  • congruence between investments and relevant documents

  • ongoing monitoring and review

Sage Planning conducts programs to educate donors and board members of smaller charitable organizations regarding their fiduciary obligations.  As an Accredited Investment Fiduciary®, Vivian Villers provides investment design, implementation and monitoring.