A long-time client in the nonprofit elder care business experienced turnover on the investment committee to the point where the majority of members were not familiar with the investment strategy. Fiduciary proposed an Enterprise Review to re-underwrite the investment policy statement and ensure the current committee took ownership of the strategy.

Fiduciary reviewed the organization’s history and mission to understand the importance of the annual endowment draw to the overall operating budget. In conversations with committee members, we gained a deeper appreciation for the committee’s risk appetite and were able to recommend a revised asset allocation.

Through an iterative process we made edits to the Investment Policy Statement which were discussed and ratified by the entire committee to promote ownership. We agreed to revisit the process at least every three years.