Pat Ennis, CExP, CAP®

Nonprofit Board members and CFOs: have you thought about investing for nonprofits like investing for yourself?    This is a common trap that we see people - especially newer nonprofit fiduciaries - fall into. As a nonprofit investment steward, you have a responsibility to act in the nonprofit’s best financial interests.  But you may be drawing on experience with your own investments when making decisions.    So what should you think about differently to make sure you’re fulfilling your fiduciary duty?    🟪 Assessing your organization’s risk profile - risk tolerance can’t be a unilateral decision.  Understand your nonprofit’s financial condition and gain consensus from volunteer Board members on their risk appetite.    🟪 Setting goals for your cash assets - financial conditions can change quickly if donations are lower than expected or if your annual conference performed better. Understand when you may need to spend your reserves and segment your investments by time horizon to help maintain purchasing power and avoid realizing losses.    🟪 Educating the Board - Boards turnover regularly. Making sure new Board members are educated on investment policies is crucial.  Have you documented how your policies were created?    🟪 Defining an appropriate static performance benchmark - this brings context to performance and allows for objective decision making.  This is an investment policy must-have!    🟪 Downside risk protection - consider investment restrictions in your investment policy to avoid making investment strategy changes at the worst possible market timing.    🟪 Knowing if your fees are appropriate and reasonable for your portfolio - you’re a steward of “other peoples’ money.” You’re responsible for knowing your investment adviser and fund manager fees, as well as other expenses and fees, and evaluating them relative to your performance.    🟪 Reporting clearly and concisely - volunteers’ time to review investments is limited. Custom dashboards make it easy to understand performance and policy compliance.     🟪 Timing of trades relative to the fiscal year and operating position - clear communication with financial advisors can ensure that realizing a portfolio loss doesn’t negatively impact financial statements.    Which of these nuances has been the most difficult to navigate for you? 

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Is your family office integrating philanthropy and impact investing? 🌍💖 Philanthropy and impact investing can amplify the positive legacy of your family office. Align philanthropic initiatives with family values to ensure meaningful and effective contributions. If you’re looking to expand your philanthropic efforts, consider executive coaching support. Let’s make a lasting impact together by integrating purposeful giving into your family office. #FamilyOffice #Philanthropy #ImpactInvesting #GivingBack #ExecutiveCoaching

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Thank you Foothills Collaborative Divorce Professionals for sharing this review! Working collaboratively isn't always the easiest path, but the results: decreased conflict, less stress, better coparenting and so much more - are worth it! #divorce #divorcecommunity #divorcegoals #divorcecoach #familylaw #divorcedmoms #divorceddads #divorceadvice

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Struggling to break the $1 million mark? Don't miss the latest episode of Catapult Your Business. Expert Angi Semler Welch dives deep into the importance of vision for scaling your business. Learn how to define your personal & business goals to unlock explosive growth.   https://lnkd.in/gUrE58-X 

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The 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐨𝐫 𝐕𝐨𝐢𝐜𝐞 -- the 𝐹𝑜𝑢𝑛𝑑𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑉𝑜𝑖𝑐𝑒 for 𝟣𝟣% of people.  𝐊𝐞𝐲 𝐜𝐡𝐚𝐫𝐚𝐜𝐭𝐞𝐫𝐢𝐬𝐭𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐨𝐫 𝐕𝐨𝐢𝐜𝐞: - Champions of relational networks, collaboration, and communication - They rally people to endeavors they believe in - Maintain a large social network - Have "people-pleasing" tendencies - Struggle to receive critical feedback well 𝐑𝐞𝐚𝐝 𝐨𝐧 𝐭𝐨 𝐥𝐞𝐚𝐫𝐧: - 𝐶𝑜𝑚𝑚𝑜𝑛 𝑠𝑡𝑟𝑒𝑠𝑠 𝑡𝑟𝑖𝑔𝑔𝑒𝑟𝑠 - 𝐻𝑜𝑤 𝑡𝑜 𝑒𝑚𝑝𝑜𝑤𝑒𝑟 𝑡ℎ𝑒 𝐶𝑜𝑛𝑛𝑒𝑐𝑡𝑜𝑟𝑠 𝑖𝑛 𝑦𝑜𝑢𝑟 𝑙𝑖𝑓𝑒 https://lnkd.in/gmZySShs

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Ready to invest your organization’s cash assets, but don’t know where to start?    Step one for any nonprofit or association leader is to clearly understand your organization’s risk profile. Your risk tolerance may be different than other members of the executive staff and Board members. The worst time to find that out is when there’s a market pullback. Suddenly everyone has different performance expectations and wants to react differently. Undisciplined moves can have a serious negative impact on performance.    So how do you avoid that mess by establishing common expectations and ensuring you can remain disciplined with your investment strategy?    Assess your organization’s ability and willingness to take risk with its cash assets by:    1️⃣ Reviewing your financials - look at sources of revenue, reliability of income streams and time horizons to determine your ability to take on risk    2️⃣ Discussing current and future operating expectations with volunteers - understand what cash you need on hand based on current and forecasted cash flow and operating expenses    3️⃣ Conducting a risk tolerance survey with members of the Finance Committee / Board - give everyone an equal say and balance out any louder voices or strong opinions that could dominate the decision-making process    ——  ✉️ Let me know what other nonprofit investing topics I should cover.  📣 Share if you found this helpful.  🔔 Follow me for more insights on investing for nonprofits and associations. #investmentstrategy #nonprofits #investmentmanagement

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It’s never too early to teach your children ‘wealth literacy’ https://ow.ly/gAXk50ShumC #FamilyBusiness #FinancialEducation #LeadershipDevelopment #NextGeneration #FinancialLiteracy

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#Leaders worth following are healthy and know how to multiply what they know to others. But what does leader #health look like? One tool to gauge health is the 𝐏𝐞𝐚𝐜𝐞 𝐈𝐧𝐝𝐞𝐱.  https://lnkd.in/gs4723kD #leaderdevelopment #leadership #emotionalintelligence

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Husband and wife #familybusiness owners had a pattern of miscommunication they were clueless to stop -- until I introduced them to provisional, plan, and promise.   Watch the video to learn more …   https://lnkd.in/gawZrcrC #relationalintelligence #conflict #communication

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Wondering how to recognize signs of employee embezzlement in nonprofit organizations? Nonprofit organizations are often uniquely susceptible to employee embezzlement, and detecting fraud can be challenging without proper oversight. Understanding the warning signs specific to nonprofits is crucial for safeguarding donor funds and organizational integrity. Tip: Monitor donor contributions and grant expenditures closely. The "unexpected" nature of contributions make them susceptible to misuse. Watch for discrepancies between budgeted and actual expenses, as well as unauthorized withdrawals from organizational accounts.

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Have you ever wondered if there's more to achieving business success than just optimizing operations? Imagine integrating your vision with a comprehensive approach that includes wise financial stewardship, strategic foresight, and adaptability. This holistic strategy could be the catalyst for unlocking the growth and prosperity you aspire to. James 1:5 reminds us, "If any of you lacks wisdom, let him ask of God, who gives generously to all without reproach, and it will be given to him." By seeking divine wisdom and applying practical strategies, you can effectively manage overhead and maximize your business's potential. Eager to explore this transformative approach? Click the link below and join the waiting list for our upcoming "How to Grow a Business" book club training. Let's embark on this journey together, guided by wisdom and faith! https://lnkd.in/eddrUkpp #businessgrowth #holisticapproach #financialwisdom #strategicplanning #adaptability #wisdomandfaith #maximizepotential #journeytobusinesssuccess #jtbs #howtogrowyourbusiness #donaldmiller #bookclub

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Thrilled to partner once more with the International Society of Primerus Law Firms™ for their Quality of Life MATTERS Webinar Series! Participants will learn 3 transformative keys to conquer fear and pave the way for even greater ease, well-being, growth, and success in both business and life.

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The SBA estimates there are 31 million entrepreneurs in the U.S. Curious if entrepreneurship is the path to your dreams? A Career Ownership Coach® goes beyond traditional career counseling by helping you assess your readiness for the entrepreneur’s life. We can help uncover if the independence and hustle of entrepreneurship align with your strengths and desires. Contact us and let’s explore the path to your dreams together. https://bit.ly/4b47cU6 #CareerOwnershipCoach #YourCareerRevolution #Dreams #entrepreneurship #InformedDecision

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Looking to maximize your charitable impact and save on taxes? A donor-advised fund (DAF) lets you deduct donations now and invest them for future giving. See how it works to help you give more to your favorite causes: https://bit.ly/3wqXzzT #charitablegiving

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📣 A BIG CFP® Education and Exam Prep Announcement! 📣 On our newest BIF Bites episode I welcome fpPathfinder’s co-founder Michael Lecours, CFP® to chat about a NEW partnership between BIF and fpPathfinder! (See comments for the episode link ⛓️) This partnership will greatly benefit BIF's CFP students and provide systematic processes to bridge the gap between financial planning concepts and practice applications! LET’S GO!! Boston Institute of Finance (BIF) #cfp #cfppro #financialplanning #financialadvice #checklists #guides

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🎬 The 2024 July CFP® Exam cycle begins tomorrow. 📖 My last piece of CFP advice comes from a non-CFP source… 🌄 My favorite book, ‘East of Eden’ by John Steinbeck: ✨ "Now that you don't have to be perfect, you can be good.” 🌄 Expect challenges in your exam…100% is not the goal…trust the good work you’ve put in…good enough gets the PASS. 🏆 GO GET THOSE MARKS! #cfp #cfppro #cfpexam #exampreparation #financialplanning #financialadvice

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