The New Philanthropists. Jim Toscano Toscano Advisors, LLC

Size: px
Start display at page:

Download "The New Philanthropists. Jim Toscano Toscano Advisors, LLC"

Transcription

1 The New Philanthropists Jim Toscano Toscano Advisors, LLC

2 The New Philanthropists In society, there is a growing attitude to look at all endeavors in terms of impact. There are many origins: long ago Peter Drucker stated: When you find a unique opportunity to make a real difference, you focus on it and constantly reassess results. This is discipline

3 The New Philanthropy A very large expansion of resources for societal good is occurring, involving: Individuals Foundations Corporations Government Others The results of this changing environment will have a profound effect on our nonprofit sector.

4 The New Philanthropists This new mentality is spreading to all sectors of society supporting social change. The bottom line: move the envelope, make a positive impact on an important societal condition. And measure the impact. Here s where the financial investment folks, especially the Hedge fund quants, have emerged as intellectual leaders and activists. The Robin Hood Foundation is one result of this. GiveWell is another.

5 The New Philanthropists What about traditional philanthropy? There s a mixed message. The projections for 2015 are bullish, with, perhaps, a 7% increase in donations. At the same time, we see a narrowing of charitable focus by both major donors, foundations and corporations. Surveys also indicate overall donor retention down to a low of 39% What s Up? More money but going different places?

6 The New Philanthropists These groups will not accept anything except scalable solutions and cures. They re impatient, risk-takers, metrical. They see what they do as an investment in society, not a charitable act. In fact, it matters not to many whether their investment is a grant or donation, a loan or a purchase of stock. It s the impact that they re seeking.

7 The New Commitment Here s what s happening: The New Impact Investors, the New Philanthropists know: OR 1. Currently 2% of GDP goes to nonprofits % of GDP is needed in the right places for significant impact on societal ills. 3. The right places are determined by a number of factors, but must include return on investment, WHETHER CHARITABLE NOT!

8 The New Philanthropists The focus on Results in nonprofits has led gradually to a larger focus, with a decidedly empirical basis. We went from Outputs to Results to Outcomeswhat we want to achieve. Now we are dealing with Impact-what we wish to affect, to change. For example, some of the leading foundations have taken up the Impact banner: Gates, Rockefeller, McKnight, Heron, to name just a few, all treating Impact somewhat differently.

9 The Foundations Foundations have gone over the last fifty years from expecting their grantees to report on outputs, then results, then outcomes, now impact. Traditionally, foundations have made dents in some major societal problems, rarely solving them. Now, we have seen Foundations teaming up with governments, nonprofits and corporations and others to cure certain long-standing conditions, especially in the health care area. Gates is an excellent example.

10 The Foundations We also have a change in thinking. Under the IRS rules, Foundations must pay out an average of 5% of their corpus. But what about the other 95%, plus the interest made on it? Traditionally the funds are invested in a broad swath of stocks, bonds, real estate, private equities, alternative investments, hedge funds. Now, those foundations mentioned and others are putting a percentage of their corpus into social impact investments.

11 The E. B. Heron Foundation Mission to help people and communities help themselves. $300m corpus, 25M payout, 100% of endowment in play. Assess social performance of investments along with market Tax status agnostic Investments, e.g. DBL Investors, venture capital Grants to transform direct care. Investment in recycled paper that is totally recyclable.

12 Government Ever since the 1960 s government has been privatizing certain aspects of traditional government work, while maintaining the responsibility through contracts and grants, largely with nonprofit corporations. Now, we are seeing instruments such as Social Impact bonds, with elements of risk for nonprofits and investors, coming into play. The Obama administration is introducing Impact measurement on increasing numbers of contracts with all elements in society.

13 The Investment Side: Individuals : and Institutions You can go to Goldman Sachs, and a number of other financial houses, and invest in social impact mutual funds and stocks Impact investing: investments "made into companies, organizations, and funds with the intention to generate a measurable, beneficial social or environmental impact alongside a financial return" Market research is also showing that consumers will buy products from companies that they see having a positive impact on the society.

14 The Potential: Individuals Money For Good reported that approximately $50B charitable dollars could be available for Impact investing. Of the $50B, half would be in funds shifted from current agencies, with another $25B in new money. Add to that the billions of investment funds that might go to double and triple bottom line forprofits.

15 The New Philanthropists. Certainly the distinction between for- and not for-profit is diminishing. Will the distinction be totally gone one day with total emphasis on societal impact.? We see the rise of the triple bottom line startups. The low profit companies are also out there, as are the B-Corps, recently approved in Minnesota. All have Missions partially similar to nonprofits, along with a profit motivation. What will the role of the non-profit be in the future with all of these competing elements?

16 The New Philanthropists More of the new breed are younger, although boomers began the movement. Sources of wealth are also influencing the new impact investors. Money is only one of the resources being invested. Everyone of these groups, individuals, foundations, corporations and the Obama administration are seeking impact.

17 The Centrality of Measurement The influence of Edna McConnell Clark Foundation s David Hunter s performance management methodology using metrics to evaluate proposals and nonprofit performance. Empirical measurement will dominate all aspects of valuation. For the nonprofit sector, it s time to have more MBAs and fiscal analysts on board, not because of business but because of the need to empirically demonstrate impact. It s already done in nonprofit healthcare and nonprofit higher education

18 Case Study: The Robin Hood Foundation Founded by Hedge Fund principals and still dominated by them, RHF has: Invested over $1B in approximately 200 of the 29,000 nonprofits in New York City Determination of where to invest is through monetization of potential outcomes for return on investment. Moving toward a focus on education as the best return on investment to break the cycle of poverty

19 Case Study, continued: The Robin Hood Foundation Considering investing in a program to double high school graduation rates from 40% to 80% over four years. Take into account cost of intervention as an investment to produce results with a x-fold return. Look at difference in lifetime income for high school graduates, life span, Qaly s, offset by counterfactualization.

20 The Growing Trend Longer history of microloans and microgrants worldwide. New is a wider focus on the creation of wealth to break the cycle of poverty, going beyond loans and grants. New also is the idea of leverage: low interest leans, buying down points on commercial loans, using credits, multipliers. Leverage is used not only for individuals, but for communities: e.g. a grocery story in a poverty area, a bank, a post office, food-growing sites.

21 Case study: North Minneapolis Proposal: Looking for both venture capital and foundation grants, loans and investments. Large facility: hydroponic, aqua-ponic plant to raise tilapia fish; waste to help feed green plants Front of facility: grocery store, bank? Post office? Production, retail, banking and government jobs Need grocery story with fresh fish, greens Center for community action.

22 Where Does This Leave Nonprofits? With more resources available, it makes sense to learn what is needed: Measurement Analytics Big Data Clear Impact For profit subs? What Else?

SECTOR SHIFT OR. Passing Fancy. Jim Toscano Toscano Advisors, LLC

SECTOR SHIFT OR. Passing Fancy. Jim Toscano Toscano Advisors, LLC SECTOR SHIFT OR Passing Fancy Jim Toscano Toscano Advisors, LLC Let s start with Tocqueville "In the United States, as soon as several inhabitants have taken an opinion or an idea they wish to promote

More information

CHARITABLE GIVING CONSIDERATIONS: DONOR ADVISED FUND

CHARITABLE GIVING CONSIDERATIONS: DONOR ADVISED FUND : DONOR ADVISED FUND OR PRIVATE FOUNDATION? By: Marcia Paltenstein, CFP For many wealthy families charitable giving and philanthropy are among their top financial goals. Aside from the simplest form of

More information

Angel Investors, Impact Investing, and Community Economic Development

Angel Investors, Impact Investing, and Community Economic Development Angel Investors, Impact Investing, and Community Economic Development Our session today Angel Investors Impact Investing and Social Business A Community Economic Development Deal The first angel network

More information

10 Reasons To Learn More About Charitable Giving and Tax Reduction

10 Reasons To Learn More About Charitable Giving and Tax Reduction 2015 10 Reasons To Learn More About Charitable Giving and Tax Reduction NOVEMBER 2015 LOWENBERG GROUP Every few days I come up with a list of 10 ideas on a topic I have been thinking about. Usually they

More information

The Impact Investing Movement Executive Director s Report August 2014

The Impact Investing Movement Executive Director s Report August 2014 The Impact Investing Movement Executive Director s Report August 2014 Outline What is Impact Investing? What does it all mean? How did it start? Who are impact players? How is it measured? What does an

More information

IMPACT INVESTING: AN IMPORTANT TOOL IN YOUR PHILANTHROPY TOOLKIT

IMPACT INVESTING: AN IMPORTANT TOOL IN YOUR PHILANTHROPY TOOLKIT IMPACT INVESTING: AN IMPORTANT TOOL IN YOUR PHILANTHROPY TOOLKIT 42 nd Annual Conference, October 12-14 2014 Impact Investing Continuum Below-Market Rate Investments Higher Risk Lower Risk Lower Risk Higher

More information

NESsT Glossary of Terms

NESsT Glossary of Terms NESsT Glossary of Terms Base of the Pyramid (BoP): The World Resources Institute defines the base of the economic pyramid (BoP) as those with annual incomes below USD 3,000 in local purchasing power approximately

More information

Grantor Retained Annuity Trusts

Grantor Retained Annuity Trusts Grantor Retained Annuity Trusts A GRAT may allow a person to share the future appreciation of an asset with the next generation with no gift tax. Executive Overview Transferring wealth can be a significant

More information

The Giving Gap DONOR AWARENESS AND USE OF STRATEGIC GIVING METHODS. Key Highlights

The Giving Gap DONOR AWARENESS AND USE OF STRATEGIC GIVING METHODS. Key Highlights The Giving Gap DONOR AWARENESS AND USE OF STRATEGIC GIVING METHODS A 2016 survey examines giving strategies among wealthy people who give to charity. This survey report looks at the awareness and use of

More information

Investing with Impact. Creating Financial, Social and Environmental Value

Investing with Impact. Creating Financial, Social and Environmental Value Investing with Impact Creating Financial, Social and Environmental Value A Increasingly, individuals and institutions want to invest in a manner that is consistent with specific beliefs and values. Morgan

More information

2016 WEALTH AND WORTH VIDEO TRANSCRIPT

2016 WEALTH AND WORTH VIDEO TRANSCRIPT 2016 WEALTH AND WORTH VIDEO TRANSCRIPT 2016 U.S. TRUST INSIGHTS ON WEALTH AND WORTH [Chapter 1: Intro] PLEASE SEE IMPORTANT INFORMATION AT THE END OF THIS PROGRAM [Voiceover] What does wealth look like

More information

Impact Investing FRIDAY, OCTOBER 31, 2014 8:30 A.M. 11:00 A.M.

Impact Investing FRIDAY, OCTOBER 31, 2014 8:30 A.M. 11:00 A.M. Impact Investing FRIDAY, OCTOBER 31, 2014 8:30 A.M. 11:00 A.M. 1 Impact Investing: Defining the Practice Exponent Philanthropy 2014 National Conference What is Impact Investing? Impact investing uses return-seeking

More information

CASE District IV Conference Fort Worth, Texas. March 25, 2013. What true assets does your family possess?

CASE District IV Conference Fort Worth, Texas. March 25, 2013. What true assets does your family possess? HOW TO INITIATE GIFT PLANNING DISCUSSIONS WITH DONORS The Charitable Planning Process CASE District IV Conference Fort Worth, Texas March 25, 2013 Laura Hansen Dean, J.D. Attorney at Law (Texas, Indiana)

More information

Exchange-Traded Funds

Exchange-Traded Funds Exchange-Traded Funds Exchange Traded Funds (ETF s) are becoming popular investment vehicles for many investors. Most ETF s are cost effective, broad market funds. We have put together a layman s explanation

More information

Bishop Gadsden s Complete Guide to Charitable Giving

Bishop Gadsden s Complete Guide to Charitable Giving Bishop Gadsden s Complete Guide to Charitable Giving Introducing Bishop Gadsden s Century Society An Invitation to Join the Century Society As our mission statement boldly says, Bishop Gadsden embraces

More information

Fidelity Charitable Gift Fund SM Fact Sheet

Fidelity Charitable Gift Fund SM Fact Sheet Fidelity Charitable Gift Fund SM Fact Sheet OVERVIEW The Fidelity Charitable Gift Fund ( Gift Fund ) is the nation s #1 grantmaker among donor-advised fund programs 1 and is the sixth largest public charity

More information

Table of Contents. Features / Functions of Wealth Management... 3. Segments for Wealth Management... 5. Benefits of Wealth Management...

Table of Contents. Features / Functions of Wealth Management... 3. Segments for Wealth Management... 5. Benefits of Wealth Management... Wealth Management 1 Table of Contents What is Wealth Management?... 3 Features / Functions of Wealth Management... 3 Segments for Wealth Management... 5 Benefits of Wealth Management... 5 Key Market Trends...

More information

Understanding Your Income Needs For Retirement

Understanding Your Income Needs For Retirement Understanding Your Income Needs For Retirement When s the right time to retire? Many people have a specific age in mind as the right time to retire. Maybe 62, the earliest Social Security benefits can

More information

Advanced Wealth Transfer Strategies

Advanced Wealth Transfer Strategies Family Limited Partnerships (FLPS) Advanced Wealth Transfer Strategies The American Taxpayer Relief Act of 2012 established a permanent gift and estate tax exemption of $5 million, which is adjusted annually

More information

Putting Your Assets to Work for Maximum Impact. Minnesota Council on Foundations Annual Convening October 28, 2010

Putting Your Assets to Work for Maximum Impact. Minnesota Council on Foundations Annual Convening October 28, 2010 Mission-Related i Investing Putting Your Assets to Work for Maximum Impact Minnesota Council on Foundations Annual Convening October 28, 2010 Christa Velasquez cvelasquez@aecf.org Bradley Fisher bfisher@springcreekadvisors.com

More information

Finding the Right Financing Mix: The Capital Structure Decision. Aswath Damodaran 1

Finding the Right Financing Mix: The Capital Structure Decision. Aswath Damodaran 1 Finding the Right Financing Mix: The Capital Structure Decision Aswath Damodaran 1 First Principles Invest in projects that yield a return greater than the minimum acceptable hurdle rate. The hurdle rate

More information

Invest your IRA in Non-Traditional Assets

Invest your IRA in Non-Traditional Assets Invest your IRA in Non-Traditional Assets Security Trust Company Security Trust Company is a retirement plan administrator only and does not provide legal, tax, or investment advice. Security Trust Company

More information

THE POTENTIAL MACROECONOMIC EFFECT OF DEBT CEILING BRINKMANSHIP

THE POTENTIAL MACROECONOMIC EFFECT OF DEBT CEILING BRINKMANSHIP OCTOBER 2013 THE POTENTIAL MACROECONOMIC EFFECT OF DEBT CEILING BRINKMANSHIP Introduction The United States has never defaulted on its obligations, and the U. S. dollar and Treasury securities are at the

More information

Impact Investing Glossary

Impact Investing Glossary Impact Investing Glossary A B Absolute Returns: An absolute returns strategy is one by which a fund invests across a range of different instruments and asset classes in order to hit a specific targeted

More information

Understanding Co-operative and Non-Profit Law. By Robert Dobrohoczki

Understanding Co-operative and Non-Profit Law. By Robert Dobrohoczki Understanding Co-operative and Non-Profit Law By Robert Dobrohoczki The following is a commissioned work by Saskatchewan Co-operative Association and Le Conseil de la coopération de la Saskatchewan to

More information

PROGRAM-RELATED INVESTMENTS IN PRACTICE

PROGRAM-RELATED INVESTMENTS IN PRACTICE PROGRAM-RELATED INVESTMENTS IN PRACTICE Luther M. Ragin Jr. * I have been asked to talk for a few moments on the issue of program-related investments (PRIs) from a foundation perspective and particularly

More information

Revenue Generating Venture

Revenue Generating Venture Thinking about a Revenue Generating Venture as a Sustainability Strategy for your Nonprofit Organization Compliments of BRODY WEISER BURNS A revenue generating venture (also called a social enterprise)

More information

Paul Gordon Partner Hanson Bridgett

Paul Gordon Partner Hanson Bridgett TOPICS Summer 2014 NON PROFIT < > FOR PROFIT COLLABORATION As highlighted in prior issues of TOPICS, the share of new senior living properties being developed by for profit sponsors has increased substantially.

More information

The Charitable Remainder Trust & Charitable Lead Trust. Presented by: Jeffery T. Peetz Woods & Aitken LLP

The Charitable Remainder Trust & Charitable Lead Trust. Presented by: Jeffery T. Peetz Woods & Aitken LLP The Charitable Remainder Trust & Charitable Lead Trust Presented by: Jeffery T. Peetz Woods & Aitken LLP The Charitable Remainder Trust The charitable remainder trust is a popular and time-tested method

More information

Social Enterprise for the 21st century

Social Enterprise for the 21st century Social Enterprise for the 21st century Social enterprises are social mission driven organisations which trade in goods or services for a social purpose. They are aiming to accomplish targets that are social

More information

The Best Financial Planning Tool

The Best Financial Planning Tool The Best Financial Planning Tool The Charitable Remainder Trust Society of Financial Service Professionals, Baltimore Chapter May 6 th, 2014 Presentation by Emanuel J. Kallina, II, J.D., LL.M Kallina &

More information

How to Stop The Taxation Of Your Social Security Income

How to Stop The Taxation Of Your Social Security Income How to Stop The Taation Of Your Social Security Income The History of Social Security Taation Prior to 1983 your Social Security benefits were not being taed by the U.S. Government. All of that changed

More information

AN INVESTOR S GUIDE: Tax-Advantaged Private Equity Investing

AN INVESTOR S GUIDE: Tax-Advantaged Private Equity Investing AN INVESTOR S GUIDE: Tax-Advantaged Private Equity Investing Tax-Advantaged Private Equity Investing Institutions and financial professionals have long realized that private equity can deliver significant

More information

Family Governance and Wealth Planning

Family Governance and Wealth Planning Many financially successful, high net worth individuals engage an advisor to help answer important questions around protecting and transferring their wealth to their children and future generations. They

More information

Wealth Strategies for Business Owners. focused solutions for driven customers LIFE INSURANCE

Wealth Strategies for Business Owners. focused solutions for driven customers LIFE INSURANCE LIFE INSURANCE Wealth Strategies for Business Owners focused solutions for driven customers Life. your way MetLife s Wealth Strategies for Business Owners can help take your business to new heights with

More information

Wealth Creation Planning

Wealth Creation Planning Wealth Creation Planning A better way to own Life Insurance! Life insurance is the most effective way to protect against the financial risk and strain of a premature death. However, large or long term

More information

Personal Wealth Management

Personal Wealth Management Personal Wealth Management Integrated Wealth Management Multi Generational Wealth Planning Retirement Plan Solutions Personalized Wealth Management AspenCross Financial Group (AFG) personal wealth management

More information

Introduction to. A Wealth Protection Strategy

Introduction to. A Wealth Protection Strategy Introduction to Investing in Gold A Wealth Protection Strategy To begin a discussion on portfolio diversification with Gold, let s start by examining the reasons investors purchase Gold in the first place.

More information

GIVING BACK WITH PLANNED PHILANTHROPY

GIVING BACK WITH PLANNED PHILANTHROPY GIVING BACK WITH PLANNED PHILANTHROPY 8/20/15 Strategies For Creating Change Through Your Legacy Success in life is about more than amassing wealth. It s about the conscious legacy you leave behind for

More information

Guide to CHRIS Kids Planned Giving: The Shade Tree Society

Guide to CHRIS Kids Planned Giving: The Shade Tree Society Guide to CHRIS Kids Planned Giving: The Shade Tree Society "People have made at least a start at understanding when they plant shade trees under which they know full well they will never sit." - Elton

More information

Options for Financial and Technical Support for Youth Entrepreneurial Development. December 2014

Options for Financial and Technical Support for Youth Entrepreneurial Development. December 2014 Options for Financial and Technical Support for Youth Entrepreneurial Development December 2014 THE REAL JAMAICA Approximately 25% of the labour force earns at the level of the national minimum wage. Approximately

More information

FINANCE AND INVESTMENTS COURSES

FINANCE AND INVESTMENTS COURSES FINANCE AND INVESTMENTS COURSES Finance is a branch of economics that deals with the management of funds, financial resources and other assets. In broader terms, finance is raising or investing money either

More information

Investing Versus Gambling (03/02/2015)

Investing Versus Gambling (03/02/2015) Stock Market Barometer The Most Influential Financial Newsletter Read By Over 500 Hedge Fund Managers and Thousands of Elite Investors ~ March 2,2015 Investing Versus Gambling (03/02/2015) TREND ALERT

More information

Charitable Giving. 2012 Page 1 of 7, see disclaimer on final page

Charitable Giving. 2012 Page 1 of 7, see disclaimer on final page Charitable Giving 2012 Page 1 of 7, see disclaimer on final page By leaving money to charity when you die, the full amount of your charitable gift may be deducted from the value of your taxable estate.

More information

Client Education. Learn About Exchange-Traded Funds

Client Education. Learn About Exchange-Traded Funds Client Education Learn About Exchange-Traded Funds 2 What is an ETF? 6 How do ETFs work? 12 How do ETFs compare with other investments? 2 Exchange-traded funds, or ETFs, are attracting more and more attention

More information

Real Estate Info Packet

Real Estate Info Packet Real Estate Info Packet Dear Investor, Thank you for your interest in a CamaPlan for your self-directed investment needs. If you are someone looking to take control of your financial future and invest

More information

Master of Science in Wealth Management The Charles H. Kellstadt Graduate School of Business

Master of Science in Wealth Management The Charles H. Kellstadt Graduate School of Business Master of Science in Wealth Management The Charles H. Kellstadt Graduate School of Business Committed to a Career in Wealth Management? Find us on the web at: http://finance.depaul.edu/cfs/ms_wealth_management/

More information

www.iamdellgines.com Your Personal Entrepreneurship Professor

www.iamdellgines.com Your Personal Entrepreneurship Professor www.iamdellgines.com Your Personal Entrepreneurship Professor How to REALLY start your business or non-profit: Introduction to going from zero to startup Introductions What Qualifies Me to Teach You Business

More information

Charitable giving techniques

Charitable giving techniques Charitable giving techniques Helping achieve your charitable and estate-planning goals Trust tip A trust can be thought of as having two parts an income interest and a remainder interest. The income interest

More information

Margin Requirements & Margin Calls

Margin Requirements & Margin Calls Margin Requirements & Margin Calls Dr. Patrick Toche References : Zvi Bodie, Alex Kane, Alan J. Marcus. Essentials of Investment. McGraw- Hill Irwin. Chapter 3 of the Bodie-Kane-Marcus textbook will be

More information

Cost of higher education: A student affairs perspective. Dr. Javaune Adams-Gaston Vice-President for Student Life The Ohio State University

Cost of higher education: A student affairs perspective. Dr. Javaune Adams-Gaston Vice-President for Student Life The Ohio State University Cost of higher education: A student affairs perspective Dr. Javaune Adams-Gaston Vice-President for Student Life The Ohio State University Introduction Roadmap Cost Benefits Student debt Impact of debt

More information

Foreign Exchange Investments Discover the World of Currencies. Private Banking USA

Foreign Exchange Investments Discover the World of Currencies. Private Banking USA Foreign Exchange Investments Discover the World of Currencies Credit Suisse Securities (USA) llc Private Banking USA 2 Foreign exchange: There s no ignoring the largest market in the world. Introduction

More information

Commercial Real Estate Investing 101

Commercial Real Estate Investing 101 Commercial Real Estate Investing 101 RealCrowd invest@realcrowd.com 2013 RealCrowd. All rights reserved. A better way to invest in real estate. What is RealCrowd? RealCrowd offers direct real estate investing

More information

Tax Advice for Irish Family Businesses

Tax Advice for Irish Family Businesses Tax Advice for Irish Family Businesses Contents Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Transferring a Business into a Company How to set up

More information

Next Plateau Consulting LLC December, 2008

Next Plateau Consulting LLC December, 2008 Next Plateau Consulting LLC Frank Washelesky 455 N. Cityfront Plaza Dr. NBC Tower - Suite 2600 Chicago, IL 60611-5379 312-670-0500 fwashelesky@next-plateau.com www.next-plateau.com Charitable Giving Page

More information

Proceed boldly. Inspire social impact. Make your difference.

Proceed boldly. Inspire social impact. Make your difference. Proceed boldly. Inspire social impact. Make your difference. What s Occurring Today in philanthropy? Donors, foundation executives, philanthropic organizations and the professional advisors who counsel

More information

New Project Finance Structures for Worldwide Renewable Energy Development. Cindy Thyfault, CEO & Founder Westar Trade Resources May 23, 2012

New Project Finance Structures for Worldwide Renewable Energy Development. Cindy Thyfault, CEO & Founder Westar Trade Resources May 23, 2012 New Project Finance Structures for Worldwide Renewable Energy Development Cindy Thyfault, CEO & Founder Westar Trade Resources May 23, 2012 Presentation Outline Overview of Westar History & Services Challenges

More information

Learn about exchange-traded funds. Investor education

Learn about exchange-traded funds. Investor education Learn about exchange-traded funds Investor education Become a more knowledgeable exchange-traded funds investor In this education guide, you ll get answers to common questions about exchange-traded funds,

More information

Wealth Transfer Planning Considerations for 2011 and 2012

Wealth Transfer Planning Considerations for 2011 and 2012 THE CENTER FOR WEALTH PLANNING Wealth Transfer Planning Considerations for 2011 and 2012 March 2011 The Center for Wealth Planning is part of Credit Suisse s Private Banking USA and does not provide tax

More information

A Micro-Loan Scheme for Artists and Enterprise

A Micro-Loan Scheme for Artists and Enterprise A Micro-Loan Scheme for Artists and Enterprise Background Opportunities exist for philanthropists and government to be investors in culture extending loans to artists and cultural enterprises which are

More information

36 Annuity Laddering. Learn How to Protect Your Retirement Income from Inflation and Lower Interest Rates. According to the US Consumer Price Index

36 Annuity Laddering. Learn How to Protect Your Retirement Income from Inflation and Lower Interest Rates. According to the US Consumer Price Index 36 Annuity Laddering Learn How to Protect Your Retirement Income from Inflation and Lower Interest Rates According to the US Consumer Price Index over the 20 year period from 1990 to 2010 the US dollar

More information

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS 7605B/7601 ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS Revised October 1999 University of Wisconsin System This publication has been developed by the Wisconsin SBDC in partnership with the U.

More information

WEALTH MANAGEMENT SOLUTIONS

WEALTH MANAGEMENT SOLUTIONS WEALTH MANAGEMENT SOLUTIONS Manage your assets Protect your wealth Build your legacy Wealth Management Solutions from Raymond James managing your assets protecting your wealth building your legacy Wealth

More information

Part 10. Small Business Finance and IPOs

Part 10. Small Business Finance and IPOs Part 10. Small Business Finance and IPOs In the last section, we looked at how large corporations raised money. In this section, we will examine some of the financing issues facing small and start-up businesses.

More information

13. If Y = AK 0.5 L 0.5 and A, K, and L are all 100, the marginal product of capital is: A) 50. B) 100. C) 200. D) 1,000.

13. If Y = AK 0.5 L 0.5 and A, K, and L are all 100, the marginal product of capital is: A) 50. B) 100. C) 200. D) 1,000. Name: Date: 1. In the long run, the level of national income in an economy is determined by its: A) factors of production and production function. B) real and nominal interest rate. C) government budget

More information

A project of the Atlanta Wealth Building Initiative and The Community Foundation for Greater Atlanta

A project of the Atlanta Wealth Building Initiative and The Community Foundation for Greater Atlanta A project of the Wealth Building Initiative and The Project Wealth Building Initiative and its first business, Lettuce Project Ellen Macht, Project Manager, responsible for managing all aspects of the

More information

State of McLennan Nonprofits 2011 Economic Profile

State of McLennan Nonprofits 2011 Economic Profile State of McLennan Nonprofits 2011 Economic Profile Introduction The nonprofit sector in McLennan County is comprised of a vibrant group of individuals committed to the betterment of society through service

More information

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers KEY FACTS 2015 UK Insurance & Long Term Savings Key Facts 2015 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS The UK insurance and long term savings industry is

More information

Getting the target date right: What plan sponsors need to know

Getting the target date right: What plan sponsors need to know February 2014» White paper Key takeaways Getting the target date right: What plan sponsors need to know Target date funds are the fastest-growing fund category in workplace retirement plans. Plan sponsors

More information

Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators

Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators Balance Sheet Agricultural Business Management Gary A. Hachfeld, David B. Bau, & C. Robert Holcomb, Extension Educators Financial Management Series #1 7/2013 A complete set of financial statements for

More information

What s a fee-only financial advisor? Steve Juetten, CFP November 7, 2011

What s a fee-only financial advisor? Steve Juetten, CFP November 7, 2011 What s a fee-only financial advisor? Steve Juetten, CFP November 7, 2011 Introduction Someone giving personal financial advice may use a variety of titles: financial adviser, financial consultant, financial

More information

Reactivating Lapsed Donors: How to Use Loyalty and Philanthropic Segmentation to Optimize Donor Reactivation

Reactivating Lapsed Donors: How to Use Loyalty and Philanthropic Segmentation to Optimize Donor Reactivation Reactivating Lapsed Donors: How to Use Loyalty and Philanthropic Segmentation to Optimize Donor Reactivation Richard Becker, President, Target Analytics Business Challenge: Nonprofit organizations are

More information

Business Sustainability. and the Environment

Business Sustainability. and the Environment Business Sustainability and the Environment An introductory guide to help you explore some important considerations about business sustainability and the environment for your business Business sustainability

More information

CHAPTER 11 INTRODUCTION TO SECURITY VALUATION TRUE/FALSE QUESTIONS

CHAPTER 11 INTRODUCTION TO SECURITY VALUATION TRUE/FALSE QUESTIONS 1 CHAPTER 11 INTRODUCTION TO SECURITY VALUATION TRUE/FALSE QUESTIONS (f) 1 The three step valuation process consists of 1) analysis of alternative economies and markets, 2) analysis of alternative industries

More information

What Do High Net Worth Donors/Clients Expect You to Know About Philanthropy?

What Do High Net Worth Donors/Clients Expect You to Know About Philanthropy? What Do High Net Worth Donors/Clients Expect You to Know About Philanthropy? Nathan Daley, J.D. Director, Complex Assets Group Allison Westmoreland Charitable Planning Associate The Charitable Landscape

More information

Center for Gifted Education Focusing on the Future 2015 CAREERS IN FINANCE

Center for Gifted Education Focusing on the Future 2015 CAREERS IN FINANCE Center for Gifted Education Focusing on the Future 2015 CAREERS IN FINANCE What is Finance? The science that describes the management, creation and study of money, banking, credit, investments, assets

More information

M.S. Finance. Upon completion of the program, graduates are expected to:

M.S. Finance. Upon completion of the program, graduates are expected to: M.S. Finance The Master of Science in Finance degree program prepares students for career advancement in a variety of managerial and professional positions in a wide range of firms. As a result of the

More information

STATE OF THE RETAIL INDUSTRY: EXECUTIVE SUMMARY

STATE OF THE RETAIL INDUSTRY: EXECUTIVE SUMMARY STATE OF THE RETAIL INDUSTRY: EXECUTIVE SUMMARY State of the Retail Industry The retail industry is beginning to show modest signs of recovery. However, consumers remain cautious. Consumer confidence is

More information

HUMAN CAPITAL PERFORMANCE BONDS(HUCAP) Steve Rothschild investinoutcomes.org 612-396-0295

HUMAN CAPITAL PERFORMANCE BONDS(HUCAP) Steve Rothschild investinoutcomes.org 612-396-0295 HUMAN CAPITAL PERFORMANCE BONDS(HUCAP) Steve Rothschild investinoutcomes.org 612-396-0295 Agenda The Problem What s Required A New Idea Implications for Budget and Policy Goals/Status/Plans Implications

More information

COLLEGE DEBT HAS PROFOUND EFFECT ON FINANCIAL SECURITY, WELL-BEING AND LIFE CHOICES FOR YEARS TO COME

COLLEGE DEBT HAS PROFOUND EFFECT ON FINANCIAL SECURITY, WELL-BEING AND LIFE CHOICES FOR YEARS TO COME May 26, 2006 Stephanie Giaramita sgiaramita@alliancebernstein.com 212.969.6387 Rob Densen, Tiller rdensen@tillerllc.com 212.727.1626 Jessica Norwitz, Tiller jnorwitz@tillerllc.com 212.727.1626 COLLEGE

More information

Charitable remainder trusts

Charitable remainder trusts Charitable remainder trusts An estate planning strategy for charitably inclined investors This strategy may be a good fit when: You want to make a significant gift to charity You have assets that you want

More information

Margin Requirements & Margin Calls

Margin Requirements & Margin Calls Margin Requirements & Margin Calls Dr. Patrick Toche References : Zvi Bodie, Alex Kane, Alan J. Marcus. Essentials of Investment. McGraw- Hill Irwin. Chapter 3 of the Bodie-Kane-Marcus textbook will be

More information

Graduate Business Programs SDSU College of Business Administration. MBA Program of Study Worksheet. Finance Specialization

Graduate Business Programs SDSU College of Business Administration. MBA Program of Study Worksheet. Finance Specialization Graduate Business Programs SDSU College of Business Administration MBA Program of Study Worksheet Finance Specialization Program of Study Worksheet: MBA Finance Specialization The MBA requires a 30 48

More information

Asset Creation Planning

Asset Creation Planning Asset Creation Planning Innovative Solutions For Seniors Now Seniors have the opportunity to improve their financial situation through the creation of a Life Insurance Asset, often without any out of pocket

More information

The Law Firm Group at Morgan Stanley

The Law Firm Group at Morgan Stanley The Law Firm Group at Morgan Stanley 717 TEXAS AVENUE SUITE 3050 HOUSTON, TX 77002 713-658-2777 / MAIN 800-890-2774 / TOLL-FREE 713-658-2729 / FAX lawfirmgroup@mssb.com The Law Firm Group at Morgan Stanley

More information

Private Client Group. Washington DC Alexandria VA Los Angeles CA Fort Lee NJ

Private Client Group. Washington DC Alexandria VA Los Angeles CA Fort Lee NJ The conversation between client and advisor is the heart of our firm; all that we do must be borne of and nourish that relationship. - Augustine Hong, CEO Private Client Group Washington DC Alexandria

More information

WHAT CAN WE LEARN FROM SIX COMMON ANNUITY PURCHASE MISCONCEPTIONS?

WHAT CAN WE LEARN FROM SIX COMMON ANNUITY PURCHASE MISCONCEPTIONS? THOUGHTCAPITAL OCTOBER 2014 PENSION RISK MANAGEMENT: WHAT CAN WE LEARN FROM SIX COMMON ANNUITY PURCHASE MISCONCEPTIONS? For decades, an annuity purchase has offered a safe and effective way for DB plan

More information

Total Control IRA 1. Elite Pensions, LLC. How To. Available Assets

Total Control IRA 1. Elite Pensions, LLC. How To. Available Assets How To Wish you could invest in real estate with your retirement account to earn tax-deferred or tax-free income? Using Real Estate Investors Find Ways to Put Pension Money Into Real Estate Last year,

More information

ECONOMIC IMPACTS OF THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY VENTURE CAPITAL INVESTMENT TRUST

ECONOMIC IMPACTS OF THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY VENTURE CAPITAL INVESTMENT TRUST ECONOMIC IMPACTS OF THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY VENTURE CAPITAL INVESTMENT TRUST PREPARED BY: APPLIED ECONOMICS 11209 N. TATUM BLVD, SUITE 225 PHOENIX, AZ 85028 OCTOBER 2014 1.0 INTRODUCTION

More information

Spread Betting for Dividends Guide

Spread Betting for Dividends Guide Spread Betting for Dividends Guide INTRODUCTION The purpose of this ebook is to provide a guide to spread betting for dividends with hedge strategies in place. It is based upon tools provided by DividendMax

More information

FOUNDATION MANAGEMENT: DOING IT YOURSELF VS. OUTSOURCING

FOUNDATION MANAGEMENT: DOING IT YOURSELF VS. OUTSOURCING FOUNDATION MANAGEMENT: DOING IT YOURSELF VS. OUTSOURCING Foundation Management: Doing It Yourself vs. Outsourcing Page Snow, Chief Philanthropic Officer Conventional wisdom once held that private foundations

More information

Scaling the impact of development assistance

Scaling the impact of development assistance Scaling the impact of development assistance By MACHARIA, Stephen Mwangi (Kenya) ABSTRACT Aid has played a big role in tackling some of the most pressing problems that humanity faces. In spite of the heavy

More information

DECIDING TO GIVE A guide to personalizing your philanthropy

DECIDING TO GIVE A guide to personalizing your philanthropy DECIDING TO GIVE A guide to personalizing your philanthropy 2013 COF & MCFV People give for a number of reasons, all very personal to them. What motivates you? Perhaps you feel strongly about a cause.

More information

Inspired! Your Guide to Personal. and Family Philanthropy. Created by The Winnipeg Foundation

Inspired! Your Guide to Personal. and Family Philanthropy. Created by The Winnipeg Foundation Your Guide to Personal and Family Philanthropy Inspired Inspired! Created by The Winnipeg Foundation All of us, if we are reasonably comfortable, healthy and safe, owe immense debts to the past. There

More information

INVEST IN YOURSELF FINANCIAL PLANNING FOR WOMEN

INVEST IN YOURSELF FINANCIAL PLANNING FOR WOMEN INVEST IN YOURSELF FINANCIAL PLANNING FOR WOMEN When They Engage a Financial Advisor, Women Want I To forge relationships based on trust, I To be sure that discussions of their needs and goals will be

More information

CASE STORY ON GENDER DIMENSION OF AID FOR TRADE. Banking on Women Pays Off: Creating Opportunities for Women Entrepreneurs

CASE STORY ON GENDER DIMENSION OF AID FOR TRADE. Banking on Women Pays Off: Creating Opportunities for Women Entrepreneurs CASE STORY ON GENDER DIMENSION OF AID FOR TRADE Banking on Women Pays Off: Creating Opportunities for Women Entrepreneurs Banking on Women Pays Off Creating Opportunities for Women Entrepreneurs International

More information

The Profit Myth. Understanding the Structure of New York Charter Schools

The Profit Myth. Understanding the Structure of New York Charter Schools The Profit Myth Understanding the Structure of New York Charter Schools September 2011 The Profit Myth: Understanding the Structure of New York Charter Schools Revised August 2011 Charter schools are independently-run

More information

Grow your business through giving

Grow your business through giving Grow your business through giving Peter Bennett CFP, CLU, CH.F.C. Information for financial security and investment representatives. This material is not intended for use with clients. Agenda Overview

More information

Top 10 Jobs for Economics Majors Author: By Mike Profita Source: http://www.about.com/careers/

Top 10 Jobs for Economics Majors Author: By Mike Profita Source: http://www.about.com/careers/ Top 10 Jobs for Economics Majors Author: By Mike Profita Source: http://www.about.com/careers/ From marketing and finance, to public policy and journalism, there are a variety of fields open to the economics

More information

BUILDING YOUR MONEY PYRAMID: FINANCIAL PLANNING CFE 3218V

BUILDING YOUR MONEY PYRAMID: FINANCIAL PLANNING CFE 3218V BUILDING YOUR MONEY PYRAMID: FINANCIAL PLANNING CFE 3218V OPEN CAPTIONED MERIDIAN EDUCATION CORP. 1994 Grade Levels: 10-13+ 14 minutes 1 Instructional Graphic Enclosed DESCRIPTION Most people will earn

More information