(Oct. 1, 2021) From our founding 52 years ago, a primary mission of the Community Foundation has been to serve the needs of our donors, helping to make your charitable giving as simple and as powerful as possible. Investing your funds has always been an important part of that. In structuring and managing our investments, our goal is to offer you appropriate investment options that preserve, protect, and when appropriate, grow your charitable resources.
In pursuit of that goal, we continuously seek to improve our processes and policies in managing our investments. To that end, for the first time in 20 years, our Board of Governors adopted a comprehensive new Investment Policy Statement in April of last year. That statement sets out the purpose, scope, and construction of each of our investment pools and, importantly, more clearly describes the role and expectations of our Investment Consultant, the firm that provides us with professional guidance and advice on investment matters.
Our new Investment Policy Statement also requires that we periodically review our Investment Consultant relationship and consider competitive proposals for that position. This past year, for the first time in many years, we invited proposals from a number of national investment firms to be considered as our investment consultant. We are pleased to announce that, after a deliberate and rigorous selection process, we have engaged Prime Buchholz LLC, as our new Investment Consultant.
Prime Buchholz is based in Portsmouth, NH, with offices in Boston and Atlanta. They oversee approximately $61 billion in assets, and their client list includes 11 of the 100 largest community foundations, including The Boston Foundation (one of the largest in the country) and the Community Foundation of the Chattahoochee Valley in Columbus, GA (number 97).
This is a time of extraordinary growth for the Community Foundation of Greater Memphis, having surpassed $1 billion in assets and become—ourselves—one of the largest community foundations in the country. In making its final selection, the Investment Committee was impressed by Prime Buchholz’s investment experience, performance, resources, pricing, specific experience with community foundations, and approach to diversity, equity, and inclusion.
We are deeply grateful to Gerber/Taylor Associates, Inc. for their 20 years of outstanding service to the Community Foundation as our Investment Consultant. Their knowledgeable advice undoubtedly helped propel the foundation to our current position of strength and community impact.
We would also recognize the countless hours of hard work put in by the volunteer members of our Investment Committee during the search process and in developing Prime Buchholz as our new consultant.
We look forward to introducing Prime Buchholz to our donors and nonprofit partners in the months ahead. To start, we hope that you can join us virtually at 4:00 p.m. CDT on Tuesday, October 26, to meet the Prime Buchholz leadership team. You will hear about their experience, their investment strategy, and their outlook on the markets. There will, of course, be plenty of opportunity to ask questions. REGISTER HERE. Mark your calendars and plan to join us.
Robert M. Fockler Jay Healy
President Chair, Investment Committee