The New Philanthropists. Jim Toscano Toscano Advisors, LLC

Save this PDF as:
 WORD  PNG  TXT  JPG

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?

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

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

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

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

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

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

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

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

Wealth Management Solutions

Wealth Management Solutions Wealth Management Solutions Helping You Grow Your High-Net-Worth Business Your Business Without Limits TM The Wealth Management Opportunity As the level of wealth continues to grow among high-net-worth

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

Gifting Unique Assets: Philanthropy and Tax Planning

Gifting Unique Assets: Philanthropy and Tax Planning The following information and opinions are provided courtesy of Wells Fargo Bank N.A. Wealth Planning Update Gifting Unique Assets: Philanthropy and Tax Planning JULY 2014 Erika Mielke Senior Wealth Planning

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

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

Ready: Selling the Idea

Ready: Selling the Idea Ready: Selling the Idea From the Hallway to the Boardroom The Kellogg Foundation s mission-driven investing program began with a simple suggestion made to Sterling Speirn, the Foundation s chief executive

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

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

Valuation Services. Global Capabilities Delivered Locally KPMG LLP

Valuation Services. Global Capabilities Delivered Locally KPMG LLP Valuation Services Global Capabilities Delivered Locally KPMG LLP Today s global environment has elevated the importance of valuations that support financial reporting, tax planning, litigation, and mergers

More information

Weighing the Alternatives: Do Non-Traditional Investments Have a Place in an IRA?

Weighing the Alternatives: Do Non-Traditional Investments Have a Place in an IRA? According to new research from Cerulli Associates, most financial service professionals now incorporate alternative investment vehicles into their clients portfolios. In the research firm s new report,

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

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

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

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

TROPMAN REPORT 2003 SERIES

TROPMAN REPORT 2003 SERIES TROPMAN REPORT 2003 SERIES volume 2 : number 3 IDENTIFYING FINANCING OPPORTUNITIES FOR PITTSBURGH-BASED SOCIAL ENTERPRISES: Challenges and Opportunities for Capitalizing Entrepreneurial Ventures The Forbes

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

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

BRIDGING INVESTORS WITH INSTITUTIONAL SOLUTIONS

BRIDGING INVESTORS WITH INSTITUTIONAL SOLUTIONS BRIDGING INVESTORS WITH INSTITUTIONAL SOLUTIONS WE BELIEVE THE BRIDGE IS AN EXCELLENT METAPHOR FOR THE WORK WE DO AT FUND EVALUATION GROUP Premier portfolio management like superior bridge construction

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

THE LOW INCOME INVESTMENT FUND S SOCIAL IMPACT CALCULATOR

THE LOW INCOME INVESTMENT FUND S SOCIAL IMPACT CALCULATOR IN BRIEF THE LOW INCOME INVESTMENT FUND S SOCIAL IMPACT CALCULATOR Nancy O. Andrews and Dan Rinzler LIIF Like any investor, we at the Low Income Investment Fund (LIIF) use financial return and other commonly

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

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

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

Methods of Giving. Create Your Texas A&M Legacy GIVING

Methods of Giving. Create Your Texas A&M Legacy GIVING Methods of Giving Create Your Texas A&M Legacy GIVING What is the Texas A&M Foundation? Founded in 1953, the Texas A&M Foundation is a nonprofit organization that encourages major gifts and manages endowments

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

SAMPLE GIFT ACCEPTANCE POLICIES

SAMPLE GIFT ACCEPTANCE POLICIES SAMPLE GIFT ACCEPTANCE POLICIES ABC Charity, a nonprofit organization headquartered in City, State, encourages the solicitation and acceptance of gifts to ABC Charity (hereinafter referred to as ABC) for

More information

Fueling Philanthropy with Complex Assets

Fueling Philanthropy with Complex Assets Fueling Philanthropy with Complex Assets Nathan Daley, J.D. Director, Complex Assets Group Allison Westmoreland Charitable Planning Consultant The Charitable Landscape Total charitable giving increased

More information

Chapter 13 Money and Banking

Chapter 13 Money and Banking Chapter 13 Money and Banking Multiple Choice Questions Choose the one alternative that best completes the statement or answers the question. 1. The most important function of money is (a) as a store of

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

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

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

Donor-Advised Fund. Policies and Guidelines

Donor-Advised Fund. Policies and Guidelines Donor-Advised Fund Policies and Guidelines New Jersey Health Charitable Gift Fund 120 Albany Street Tower II, Suite 850 New Brunswick, NJ 08901 (908) 315-5870 Introduction Thank you for your interest in

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

Q: Where can I find classes on social entrepreneurship at the University of Minnesota?

Q: Where can I find classes on social entrepreneurship at the University of Minnesota? Q: Where can I find classes on social entrepreneurship at the University of Minnesota? A: [In other words all over campus, at both the undergraduate & graduate levels.] MGMT 4000 Issues in Nonprofit Management

More information

The Emerging Capital Market for Nonprofits

The Emerging Capital Market for Nonprofits www.hbr.org How market mechanisms from the private sector could energize the nonprofit world. The Emerging Capital Market for Nonprofits by Robert S. Kaplan and Allen S. Grossman Included with this full-text

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

line of Sight Impact Investing A Guide for Philanthropists and Social Investors

line of Sight Impact Investing A Guide for Philanthropists and Social Investors line of Sight Impact Investing A Guide for Philanthropists and Social Investors We hope you enjoy the latest presentation from Northern Trust s Line of Sight. By providing research, findings, analysis

More information

Equity Value, Enterprise Value & Valuation Multiples: Why You Add and Subtract Different Items When Calculating Enterprise Value

Equity Value, Enterprise Value & Valuation Multiples: Why You Add and Subtract Different Items When Calculating Enterprise Value Equity Value, Enterprise Value & Valuation Multiples: Why You Add and Subtract Different Items When Calculating Enterprise Value Hello and welcome to our next tutorial video here. In this lesson we're

More information

BNY Mellon Wealth Management. For more information please contact Brenda Travaglini at 617-722-7115 or Brenda.Travaglini@bnymellon.com.

BNY Mellon Wealth Management. For more information please contact Brenda Travaglini at 617-722-7115 or Brenda.Travaglini@bnymellon.com. BNY Mellon Wealth Management For more information please contact Brenda Travaglini at 617-722-7115 or Brenda.Travaglini@bnymellon.com. BNY Mellon LEADERSHIP BNY Mellon: A Global Leader Leading global provider

More information

Pity the Poor Pooled Income Fund

Pity the Poor Pooled Income Fund Pity the Poor Pooled Income Fund PG Calc Featured Article, October 2014 http://www.pgcalc.com/about/1411-featured-article.html These days, the struggling Pooled Income Fund is like the Rodney Dangerfield

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

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

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

Social Investment in Thailand

Social Investment in Thailand Social Investment in Thailand Regional and Global Context Watanan Petersik Director Lien Centre for Social Innovation Preview of Research Social Investing in Southeast Asia : From Charity to Change Types

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

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

Scaling What Works: Implications for Philanthropists, Policymakers, and Nonprofit Leaders. Nancy Roob and Jeffrey L. Bradach

Scaling What Works: Implications for Philanthropists, Policymakers, and Nonprofit Leaders. Nancy Roob and Jeffrey L. Bradach Scaling What Works: Implications for Philanthropists, Policymakers, and Nonprofit Leaders Nancy Roob and Jeffrey L. Bradach April 2009 Scaling What Works: Implications for Philanthropists, Policymakers,

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

Key Steps Before Talking to Venture Capitalists

Key Steps Before Talking to Venture Capitalists Key Steps Before Talking to Venture Capitalists Some entrepreneurs may not be familiar with raising institutional capital to grow their businesses. Expansion plans beyond common organic growth are typically

More information

What is Social Enterprise?

What is Social Enterprise? What is Social Enterprise? Social enterprises are businesses that solve critical social problems in a sustainable manner. Distinct from both traditional charities and most for-profit businesses, social

More information

Create a big impact for clients and your business

Create a big impact for clients and your business PROFILES IN PHILANTHROPY ADVISOR PERSPECTIVES ON CHARITABLE PLANNING Create a big impact for clients and your business We all want to make a difference in the world particularly in difficult times. The

More information

Cygnus ASSET MANAGEMENT, LLC. Honesty. Integrity. Perspective.

Cygnus ASSET MANAGEMENT, LLC. Honesty. Integrity. Perspective. Cygnus ASSET MANAGEMENT, LLC Honesty. Integrity. Perspective. The Cygnus Mission Cygnus was founded, and continues its mission, based on three founding principles: To have a meaningful and positive impact

More information

Finance Primer: A Guide to SBA s Loan Guaranty Programs. Text File

Finance Primer: A Guide to SBA s Loan Guaranty Programs. Text File Finance Primer: A Guide to SBA s Loan Guaranty Programs Text File Slide 1 Finance Primer: A Guide to SBA s Loan Guaranty Programs Welcome to SBA s online training program, the Finance Primer: A Guide to

More information

To address the wide-ranging challenges facing the United States, collaboration

To address the wide-ranging challenges facing the United States, collaboration Community Development INVESTMENT REVIEW 63 Social Impact Bonds: Using Impact Investment to Expand Effective Social Programs Luther Ragin, Jr.* Global Impact Investing Network Tracy Palandjian Social Finance,

More information

Consulting Group: An Introduction

Consulting Group: An Introduction 2 Disciplined Investment Process 3 Investment Advisory Programs 5 Global Resources, Local Perspective product consulting group Consulting Group: An Introduction summary The last several years have proven

More information

Completing Charitable Remainder Trust Reviews: An Advisor s Guide

Completing Charitable Remainder Trust Reviews: An Advisor s Guide Completing Charitable Remainder Trust Reviews: by Roger D. Silk, PhD, CFA Abstract: Ever since the charitable remainder trust (CRT) was introduced to the Tax Code in 1969, most advisors have considered

More information

Planning Retirement in a Rising Tax Environment

Planning Retirement in a Rising Tax Environment Planning Retirement in a Rising Tax Environment (Based on the published article written in the 2014 semi-annual edition of Wealth Channel Magazine) By Francis J. Lojewski, MSFS, ChFC, CLU, LUTCF, AEP One-sentence

More information

Private Credit: A Rapidly Emerging Asset Class. Authored by the Aequitas Private Credit Team

Private Credit: A Rapidly Emerging Asset Class. Authored by the Aequitas Private Credit Team Private Credit: A Rapidly Emerging Asset Class Authored by the Aequitas Private Credit Team Thought Leadership Resource Library September 2014 503.419.3500 acp@aequitascapital.com www.aequitascapitalpartners.com

More information

OPES International Retirement Plan

OPES International Retirement Plan OPES OPES Advanced OPES Advanced Plus FE ATUR ES AND BENE FI TS OPES International Retirement Plan 2 OPES International Retirement Plan OPES lets you retire at a time and in a manner that suits you. This

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

DOES BLACK FRIDAY STILL MATTER?

DOES BLACK FRIDAY STILL MATTER? LPL RESEARCH PRIVATE CLIENT THOUGHT LEADERSHIP DISRUPTIVE INSIGHTS DOES BLACK FRIDAY STILL MATTER? November 215 SALES FOR THE HOLIDAY SEASON OVERALL HAVE ACTUALLY INCREASED OVER THE YEARS, DESPITE THE

More information

Annuities. Products. Safe Money. that Stimulate Financial Growth & Preserve Wealth. Safe Money is for money you cannot afford to lose.

Annuities. Products. Safe Money. that Stimulate Financial Growth & Preserve Wealth. Safe Money is for money you cannot afford to lose. Annuities Safe Money Products that Stimulate Financial Growth & Preserve Wealth Safe Money is for money you cannot afford to lose. Learn why Annuities are considered to be a Safe Money Place and how these

More information

SOCIAL IMPACT INVESTING

SOCIAL IMPACT INVESTING SOCIAL IMPACT INVESTING Luke Fletcher Bates Wells and Braithwaite Type: Legal guide Published: August 2012 Last Updated: August 2012 Keywords: Impact investing; responsible business; finance; This document

More information

Q&A for Small Business Owners

Q&A for Small Business Owners Q&A for Small Business Owners What did the Obama Administration announce today? The Treasury Department will commit up to $15 billion to help unlock the secondary markets for small business loans. By purchasing

More information

ANDERSON UNIVERSITY INVESTMENT POLICY

ANDERSON UNIVERSITY INVESTMENT POLICY ANDERSON UNIVERSITY INVESTMENT POLICY I. General Investment Objectives A. The primary objective for investment of all funds of the university is to provide an adequate flow of resources sufficient to meet

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

Private Wealth Management

Private Wealth Management Private Wealth Management PRIVATE Wealth Management SERVICES Your Trust Is Our Greatest Asset The most important element in developing and executing a plan that anticipates your future financial needs

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

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

Tax-Efficient Investing for Charitable Remainder Unitrusts

Tax-Efficient Investing for Charitable Remainder Unitrusts Tax-Efficient Investing for Charitable Remainder Unitrusts Higher taxes raise the stakes High net worth individuals have faced growing challenges with the impact of higher taxes on ordinary income and

More information

Buena Vista Investment Management LLC CREATIVE INVESTMENT SOLUTIONS

Buena Vista Investment Management LLC CREATIVE INVESTMENT SOLUTIONS Buena Vista Investment Management LLC CREATIVE INVESTMENT SOLUTIONS Our Firm GLOBAL MARKET EXPERIENCE & EXPERTISE Firm Began Operation in 2003 Fee Only Registered Investment Advisory Firm (RIA) Regulated

More information

FINANCE. Introduction. Educational Objectives. Minors Minor in Finance. Courses. Degree Programs. Majors. Minor

FINANCE. Introduction. Educational Objectives. Minors Minor in Finance. Courses. Degree Programs. Majors. Minor University of Miami Academic Bulletin 1 FINANCE Department Code: FIN Introduction The finance major is designed to prepare business students for a wide variety of careers. Because finance is focused on

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

THE STATE OF RETAIL WEALTH MANAGEMENT 5th Annual Report

THE STATE OF RETAIL WEALTH MANAGEMENT 5th Annual Report THE STATE OF RETAIL WEALTH MANAGEMENT 5th Annual Report INTRODUCTION The retail wealth industry enjoyed an exceptionally strong year in. Average advisor assets hit a record high, revenue surged and recurring

More information

Ultimate Software: Successfully Navigating the Transition from On-Premise to Cloud ISV as a Public Company

Ultimate Software: Successfully Navigating the Transition from On-Premise to Cloud ISV as a Public Company Vendor Needs and Strategies Ultimate Software: Successfully Navigating the Transition from On-Premise to Cloud ISV as a Public Company Christine Dover IDC OPINION In 1998, when the company went public,

More information

Living older, living poorer unless you have a 160-year-old solution

Living older, living poorer unless you have a 160-year-old solution Living older, living poorer unless you have a 160-year-old solution By Martin F. Lowenthal The United States has the world's highest number of centenarians, yet just over half of those aged 55 or older

More information

Debunking The Myths About Whole Life Insurance: Taking a Fresh Look at a Time-Tested Product

Debunking The Myths About Whole Life Insurance: Taking a Fresh Look at a Time-Tested Product Debunking The Myths About Whole Life Insurance: Taking a Fresh Look at a Time-Tested Product The economic downturn has forced many Americans to rethink the way they plan for their financial future. In

More information

Course Syllabus For Banking and Financial Management Department

Course Syllabus For Banking and Financial Management Department For Banking and Financial Management Department School Year First Year First year Second year Third year Fifth year Fifth year Fifth year Fifth year Name of course Financial Accounting principles Intermediate

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

CHAPTER 3 THE LOANABLE FUNDS MODEL

CHAPTER 3 THE LOANABLE FUNDS MODEL CHAPTER 3 THE LOANABLE FUNDS MODEL The next model in our series is called the Loanable Funds Model. This is a model of interest rate determination. It allows us to explore the causes of rising and falling

More information

Strategic Equity Investments

Strategic Equity Investments Strategic Equity Investments Wojciech Grabowski, Assistant Professor, Department of Economics, University of Warsaw I take a closer look at recent investment results of two major corporations in the technology

More information

PRI 101: The Basics of Making a PRI

PRI 101: The Basics of Making a PRI PRI 101: The Basics of Making a PRI Grants Managers Network Conference March 17, 2010 Christa Velasquez cvelasquez@aecf.org Topics of Presentation Definitions Benefits of PRIs Making PRIs Monitoring and

More information

FUND ACCOUNTING TRAINING

FUND ACCOUNTING TRAINING FUND ACCOUNTING TRAINING Module 4 Endowment and Similar Funds The University of Texas System OBJECTIVES Gain an understanding of Endowment and Similar Funds Review different types of endowments and endowment

More information

THE ATLAS FAMILY FOUNDATION

THE ATLAS FAMILY FOUNDATION THE ATLAS FAMILY FOUNDATION P.O. Box? 25338 LOS ANGELES? CALIFORNIA? 90025-0338 (310) 394-6475? (310) 395-2017 FAX Applying a Long Term Investment Approach to Grantmaking By Richard Atlas From Financial

More information

How Financial Advisors Get Paid and

How Financial Advisors Get Paid and How Financial Advisors Get Paid and Why it Matters to You January 2012 Helping you take care of your money so you can do more of what you love! How Financial Advisors Get Paid and Why It Matters to You

More information

Searching PGPUB Production Database... Results of Search in PGPUB Production Database for: ccl/705/36t: 116 applications. Hits 1 through 50 out of 116

Searching PGPUB Production Database... Results of Search in PGPUB Production Database for: ccl/705/36t: 116 applications. Hits 1 through 50 out of 116 Searching PGPUB Production Database... Results of Search in PGPUB Production Database for: ccl/705/36t: 116 applications. Hits 1 through 50 out of 116 Next 50 Hits Jump To Refine Search ccl/705/36t PUB.

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

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

Zero Estate Tax Strategy

Zero Estate Tax Strategy Zero Estate Tax Strategy AN PLANNING STRATEGY USING LIFE INSURANCE, A FOUNDATION, AND WEALTH REPLACEMENT TRUST The Prudential Insurance Company of America 0257697 0257697-00003-00 Ed. 07/2015 Exp. 01/20/2017

More information

Performance Dashboards: Speedometer and Odometer for Social Enterprise Presented at SEA 10 th Gathering, New Orleans, LA

Performance Dashboards: Speedometer and Odometer for Social Enterprise Presented at SEA 10 th Gathering, New Orleans, LA Performance Dashboards: Speedometer and Odometer for Social Enterprise Presented at SEA 10 th Gathering, New Orleans, LA April 17, 2009 David Derryck, Business Partnerships Manager Samra Haider, Enterprise

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