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The Nathan Cummings Foundation (NCF) is requesting proposals from outsourced chief investment officers (OCIOs) to manage its endowment of approximately $450 million and to co-create a mission-aligned investment strategy that enhances its impact, further integrates the programs and investing functions, and continues to meet its financial goals.  

For the past 18 years, NCF has engaged in the practice of mission-aligned investing, beginning with innovative shareholder engagement efforts that helped shape the way foundations think about their role and responsibility as asset owners. In 2018, the foundation committed to align 100 percent of its endowment with its mission and values. Since then, NCF has worked closely with its current OCIO, Global Endowment Management, to make significant progress towards that goal, including: adoption of a mission-aligned investment policy, $180 million in new impact investments or commitments, divestment from $128 million in unaligned assets, implementation of a portfolio-wide impact measurement system, and, most recently, adoption of an investing equity lens with specific commitments around manager diversity throughout the portfolio and pipeline.

“Our commitment to mission-aligned investing is a reflection of our values,” said Interim President and CEO Rey Ramsey. “We are intentionally casting a wide net, and we are excited to identify the partner who will join us in the pursuit of greater impact.”

Godeke Consulting, an impact investing strategy and advisor search firm, will manage the search on behalf of NCF. The foundation is also continuing its partnership with Frontline Solutions, a Black-owned, national consulting firm, to ensure the process fully reflects the commitment to justice and equity that both firms share.

The RFP will occur in two phases: a Preliminary RFP, which is open to all advisers who believe they would be a strong partner to NCF in implementing its mission-aligned investing strategy, followed by a Final RFP, which will be by invitation and based on a careful review of the preliminary responses received. Because criteria such as assets under management or years in business can create unintended barriers or biases in a traditional search process, NCF welcomes joint-proposals and other creative solutions from the field during this open invitation period.

The deadline for submitting proposals is October 30, 2020. Responses will be collected online at www.surveymonkey.com/r/NCFpreliminaryRFP. View the RFP at a glance here.

If you have any questions about participating in this Preliminary RFP, please contact Steve Godeke of Godeke Consulting at steve@godekeconsulting.com.

Please direct all media inquiries to communications@nathancummings.org.