Members News & Updates

Now in its third year, the Study on Nonprofit Investing (SONI) is answering the question “how do other nonprofits invest their reserves”.  Participants receive a complimentary copy of the study results.  Consider participating by completing a short survey about your organization’s investment policies: Launch the 2015 Study on Nonprofit Investing Survey

The results provide peer benchmarks for:

• Segmentation of total cash assets (split among shorter vs longer term objectives)
• Asset allocation (investment risk)
• Investment fees and expenses
• Investment results (ROI)
• Key policy guidelines and decision making practices

Visit www.npinvesting.org for more information.  The survey will close on March 6, 2015.

Rockville, MD- Early, Cassidy and Schilling, Inc. (EC&S) is pleased to announce that ownership in Early, Cassidy & Schilling, Inc. has been extended to and accepted by Paul J. Phelan. (Click here to read more.)

CohnReznick LLP, one of the top accounting, tax, and advisory firms in the U.S., and Bethesda-based accounting, tax, and consulting firm, Watkins Meegan LLC, today announced the completion of their combination. This brings added bench strength to both firms, bolsters CohnReznick’s position as a leading firm in the Washington-Metro area, and allows for the geographic expansion of Watkins Meegan’s Government Contractors Practice. With the combination, CohnReznick estimates Firm-wide 2014 revenues of $575MM. - See more at: http://cohnreznick.com/cohnreznick-llp-and-watkins-meegan-llc-complete-combination#sthash.9At7vcyB.dpuf

Wells Fargo (NYSE:WFC) has named Maria Christofi Georges, a 26-year finance and banking veteran in the District, as head of its Education and Nonprofit Banking group in Washington that serves the Mid-Atlantic. (Click here to read more.)

Combined Firm will have Approximate Annual Revenues of $600MM

September 24, 2014 – Bethesda, MD – CohnReznick LLP, one of the top accounting, tax, and advisory firms in the U.S., and Bethesda-based accounting, tax, and consulting firm, Watkins Meegan LLC, have signed a letter of intent to combine practices, expected to be effective on November 1, 2014. The combination brings added bench strength to both firms and will bolster CohnReznick’s position as a leading firm in the Washington-Metro area. (To read more, please click here.)

Please visit this link to view a number of FAR members who made the Washington Post's Top Workplaces 2014!  http://www.topworkplaces.com/frontend.php/regional-list/list/washington

Studley, a New York-based commercial real estate brokerage company, recently announced a merger with London-based Savills plc, one of the world’s leading real estate advisory firms. Officially operating as Savills Studley in the United States, the merger creates an opportunity for both businesses to better serve the needs of existing clients and to build new client relationships around the world.
 
Savills Studley continues to specialize in tenant representation and provide strategic real estate solutions to organizations across all industries. With 25 offices in the U.S., over 600 locations around the world, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
 
For more information, please visit www.savills-studley.com

Accounting, tax and advisory firm, CohnReznick has released the results of its 2014 Not-For-Profit Governance Survey. Representatives from 260 organizations responded to a 27-question survey regarding governance issues specific to not-for-profit organizations. The data was used to compile a full report for organizations to better gauge their current governance practices against those of other participants. To see how CEOs, CFOs, controllers, executive directors and board members responded about their governance policies and procedures, download the full report here (link is below).

http://www.cohnreznick.com/insights/2014-not-profit-governance-survey-results

Early this year we introduced FAR members to SONI (the Study on Nonprofit Investing) and made registration available for member to participate in the survey.  We are now making the results available to all FAR members.  Click here to view the full 2014 SONI report.

The Study on Nonprofit Investing (SONI) is an annual report that enables nonprofits of various sizes and types to learn from each other about how to best manage their nonprofits investments.  In 2014, approximately 300 nonprofit finance executives participated in a survey about their investment polices and portfolio management practices. The results are segmented into several cohorts separated by size and/or nonprofit type.  For more information visit www.npinvesting.org

- Dennis Gogarty, AIF, CFP

The ASAE Foundation, in collaboration with ORION Investment Advisors, is currently surveying association executives nationwide to gather, analyze and then share information on the policies, procedures and performance of association reserve funds. This important new study will enable your organization more effectively govern and evaluate its investment practices.

The goal is to build and make available to association Boards, committees and staff, a comprehensive set of data which will form invaluable benchmarks and guidance towards  best-practices of these important assets.  As with any important research project, a strong response rate will create a more useful resource, for your organization and for associations of all types and sizes.

If you are an ASAE member, you should be receiving an email directly from ASAE with a link to participate.  If you’re not a member, or did not get the survey, please email Chelsea Killam at CKillam@asaecenter.org and request a link. 

The survey should take less than 10 minutes to complete and organizations who respond will receive a free summary of the analysis which will come from the study.  ASAE recognizes that certain questions may require the assistance of your outside investment advisor, and they’ve prepared materials to help you obtain and integrate those responses seamlessly. 

We all know the challenges facing associations: the “new economy”, increasing competition for members’ attention and funds and the resulting need to evaluateundefinedand in many cases retool-- membership and revenue models. Healthy and well-managed reserves are playing an increasingly important role to the vitality and viability of associations.