Issued Date: 10/18/2021

Submit Intent to Respond & Request for Materials by: 11/8/2021

Deadline for Proposals: 11/20/2021

About Community Solutions: Community Solutions is a nonprofit employing approximately 90 full-time staff in 15 different states. The organization’s mission is to create a lasting end to homelessness that leaves no one behind. We do this by helping communities become better problem solvers so they can fix the expensive, badly designed systems that our most vulnerable neighbors are forced to rely on every day. Since 2010, our work has helped communities find homes for more than 200,000 homeless Americans. In 2021 the organization was awarded the prestigious 100&Change Award by the MacArthur Foundation.

Opportunity Description: Community Solutions seeks to hire an investment manager to manage $10,000,000 of strategic operating reserves. The goal of these reserves will be:

  1. Preservation of capital
  2. A modest return on investment to keep up with inflation (2%-3% )
  3. Access to $3mm in liquidity on 60 days notice,
  4. Access to $10mm in liquidity on 6 months notice
  5. Responsible investment in ethical businesses that have explicit corporate social responsibility practices

Proposal Request: Please provide the following information:

  • Firm Name.
  • Firm headquarters mailing address.
  • Name of individual(s) completing RFP with contact information.
  • Firm classification:
    • Bank
    • Insurance Company
    • SEC-Registered Investment Adviser
    • Non-U.S. Registered Investment Manager (country and entity registered with: __________________)
    • Other - please explain_________________________________________.
  • Brief history of firm, including ownership, with an emphasis on any material developments in the past three years. Please include prior names and the length of time your organization has been in business under its present name and ownership.
  • Organizational chart of firm including a description of the racial diversity of your workforce, leadership team, and Board of Directors
  • Name of parent firm (if any) and the name of affiliations or subsidiaries (if any).
  • Date of firm inception.
  • Name of regulatory body overseeing the firm, this product, and the dates of registration, as appropriate.
  • Firm’s fidelity bond and fiduciary liability insurance policies, including coverage amounts.

Fiduciary Questions

  • Are there any current or pending litigation or administrative actions against your firm? If yes, please describe them.
  • Do you receive any compensation from any investment (such as mutual funds) that might be contained in our plan and, if so, is it used to reduce our costs?
  • Does your firm, its employees, and/or any affiliated or related entity derive any economic benefit from any investment entities, intermediaries, or service providers that are or will be involved in our plan?
  • What is your privacy policy with regard to sharing client or account information with a third party?
  • Does the firm have Errors and Omissions Insurance? Directors & Officers Liability Insurance? Fiduciary Liability Insurance? Who are the carriers and what are the limits?
  • What quality control systems do you have in place to prevent fraud?
  • Describe your organization’s commitment to Diversity and Inclusion This is VERY important to Community Solutions. See our values for further information.

Cyber Security Questions

  • Describe how you identify cyber security threats, vulnerabilities, and potential business consequences?
  • How often are technology systems updated?
  • Does the company carry cyber security insurance? If yes, provide an overview of the coverage.
  • Has the company experienced any security breaches? If yes, explain.

Investments

  • What information will we receive about investment options?
  • Is it possible to invest in funds not managed by your company?
  • Will your representatives be available to meet regularly with our investment committee/executive team or staff to review the plan and investment options?
  • What socially responsible or “green” investment opportunities do you provide?
  • What ratings system is in place for understanding how funds are investing in BIPOC led initiatives?

Expenses

  • What are the start-up conversion costs if any?
  • What are the expected costs to CS for this service?

References

Please provide 3 references of current clients who have similar investment needs. Please provide the client name, contact name, address, phone number, services provided, and year they became a client.

Supplemental Schedules and Materials

  • Please provide the following materials along with your questionnaire response:
    • A sample services agreement or contract
    • A copy of your investment contract
    • Other materials you believe would enhance our understanding of your services