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Jarvis, William F. – Commonfund Institute, 2015
A phenomenon with far-reaching effects on nonprofit investment management and governance has become a little-noticed yet powerful force in boardrooms over the past decade. Despite its wide-ranging implications, this development has largely gone undocumented. This paper seeks to draw attention to this change and its implications, and to trace a…
Descriptors: Governance, Nonprofit Organizations, Investment, Federal Legislation
Commonfund Institute, 2015
The Commonfund Study of Responsible Investing analyzes policies, practices and attitudes with respect to responsible investing among 200 U.S. colleges and universities, constituting 24.0 percent of the 832 institutions that participated in the 2014 National Association of College and University Business Officers (NACUBO)-Commonfund Study of…
Descriptors: Investment, Responsibility, Endowment Funds, Higher Education
Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2014
The nature of trusteeship has changed markedly in the new century. In addition to the mission-related and financial issues with which fiduciaries have always dealt, trustees of nonprofit organizations are now regularly required to make decisions in response to media scrutiny, challenges from regulators, demands from stakeholders and constituents,…
Descriptors: Trustees, Governance, Governing Boards, College Administration
Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2014
In the wake of the financial crisis, trustees of many endowed nonprofit institutions realized that their portfolio was riskier than they thought and their own ability to tolerate loss wasn't as strong as they imagined. What can board and investment committee members do to improve their ability to assess their--and their institution's--capacity for…
Descriptors: Governing Boards, Risk Assessment, Trustees, Committees
Belmont, David; Odisharia, Irakli – Commonfund Institute, 2014
We conduct a longitudinal analysis of the NACUBO-Commonfund Study of Endowments (NCSE) results from 2006-2013 to evaluate if active management is related to higher endowment returns in U.S. equities over time. We also analyze the data to evaluate the endowment characteristics that are related to higher levels of performance over time. We find that…
Descriptors: Endowment Funds, Money Management, Longitudinal Studies, Investment
Sedlacek, Verne O. – Commonfund Institute, 2014
For well more than a decade, the "endowment model" of investing has been synonymous with increasing allocations to alternative investment strategies, defined largely as hedge funds, private real estate, private equity and venture capital and other, generally less liquid or illiquid strategies compared to public markets. This trend…
Descriptors: Endowment Funds, Higher Education, Investment, Resource Allocation
Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2013
Outsourcing of investment management is a growing trend among institutional investors. With a broad range of institutions using or exploring the outsourced chief investment officer (OCIO) model, portfolio size is no longer the determining factor driving the outsourcing decision. For all but the largest institutional investors--those with deep…
Descriptors: Outsourcing, Investment, Institutional Characteristics, Decision Making
Boucher, Toni; Hudspeth, Stephen – Commonfund Institute, 2013
The American nonprofit sector is large, effective and influential, but with influence comes responsibility. Ethical lapses, whether real or perceived, can draw the attention of regulators and the public, leading to financial and reputational damage that can impair an organization's ability to carry out its mission. Written ethics and compliance…
Descriptors: Nonprofit Organizations, Ethics, Policy, Governance
Jarvis, William F. – Commonfund Institute, 2013
Nonprofit healthcare organizations are confronting an unprecedented series of challenges as they strive to maintain positive operating margins in the face of declining reimbursement from insurance companies and governmental payers. The crisis is particularly acute at smaller and mid-sized organizations. Having played a major role in their…
Descriptors: Health Services, Access to Health Care, Medicine, Physicians
Caplan, Lauren; Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2013
Thoughtful investment professionals continue to debate whether a portfolio's long-term performance can be enhanced by including environmental, social, and governance (ESG) considerations in the security selection process, but responsible investing is more than a passing trend. The terms socially-responsible investing, mission-related investing,…
Descriptors: Investment, Social Responsibility, Higher Education, Nonprofit Organizations
Rogers, Fred – Commonfund Institute, 2012
The investment environment of the past 15 years has challenged endowed nonprofit institutions, which have struggled to balance the claims of current constituencies with the need to preserve their endowments' future purchasing power. In the fall of 2011, I undertook a survey of chief financial officers at about two dozen liberal arts colleges to…
Descriptors: Endowment Funds, Expenditures, Colleges, Administrators
Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2012
This overview of the state of endowment giving comes at a time of urgent need in the nonprofit sector. With market returns uncertain, and spending restraint difficult, the moderate but measurable increase in donations in the previous year invites institutions to consider elevating fund-raising to a more strategic position within the organization.…
Descriptors: Fund Raising, Strategic Planning, Endowment Funds, Institutional Advancement
Belmont, David – Commonfund Institute, 2012
The recent flow of headlines excoriating bankers and financiers for malfeasance, fraud, and collusion has been almost biblical in proportion. Counterparties that appeared creditworthy based on financial statements and ratings have revealed that they are impaired either due to computer errors, control failures, malfeasance, or potential regulatory…
Descriptors: Banking, Finance Occupations, Financial Problems, Deception
Griswold, John S.; Jarvis, William F. – Commonfund Institute, 2011
Successful investing for long-term funds requires a strategic plan. This is true despite--indeed, because of--the fact that the future is unknowable. The plan must be specific, embodying in concrete terms the best thinking of the board of trustees about the investment pool, its goals and purposes; but it also needs to be sufficiently flexible to…
Descriptors: Investment, Financial Policy, Position Papers, Strategic Planning
Sedlacek, Verne O.; Jarvis, William F. – Commonfund Institute, 2010
A large and growing body of work exists on the subject of endowment investing, but the equally important topic of endowment spending is treated less often. While the degree to which endowed institutions depend on their endowment for budgetary support varies widely, the market crisis of 2008-09 demonstrated that failure by the endowment to provide…
Descriptors: Endowment Funds, Higher Education, Educational Finance, Expenditures
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