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About the Endowment Institute

Spending policy and portfolio liquidity

Venture capital and private equity

For further information or questions regarding the 2015 Endowment Institute please contact Allison Parker, Commonfund Institute, at (203)563-5021 or click here.  

Level I vs. Level II:

Course Objectives:

Level I — Fundamentals of Endowment Management (Intermediate)  This intermediate course will introduce nonprofit financial staff and trustees to the basic concepts involved in investing long-term assets for nonprofits. It is conducted as a series of lectures by well-known academic experts and managers/practitioners. While it requires little knowledge of technical terms, prerequisites include a thorough understanding of basic financial and investment terms, as well as fairly extensive pre-reading.  We encourage class participation and course mandated group study with peers. Click here to view a sample Level I agenda.

Level II — Exploring Leading-Edge Theory and Practice (Advanced)   This advanced course  will explore the leading-edge of theory and practice as it relates to the management of long-term funds in nonprofit organizations. The Level II curriculum primarily consists of longer (1.5 — 3.0 hour) sessions which are interactive and based on case studies. Prerequisites include extensive reading both before and during the course, completion of Level I or an extensive background in finance and/or nonprofit endowment management. The course also requires participation in mandatory daily group study sessions and discussions. Click here to view a sample Level II agenda.

Learning Objectives:

• In Level I, participants will be introduced to Modern Portfolio Theory and the history of the Equity Risk Premium. Upon completion of the course, the participants will be able to differentiate between the primary asset classes and strategies  – marketable securities, hedge funds, real estate, private capital & commodities ;  assess the benefits and limitations of various spending formulas common among nonprofits and their im pact on the portfolios they manage for their institutions ; implement the basic steps of portfolio r isk m anagement and due diligence. and understand how they can apply them to their manager searches and internal practices. A maximum of 36 CPE credits* can be earned for participation in this course. Depending upon the sessions attended, a maximum of 27 CPE credits may be earned for classroom time and a maximum of 9 additional credits for participation in course mandated study groups.  One credit is earned for every 50 minutes of class/study time. 

  

• Participants in Level II will gain an in-depth understanding of how to maintain intergenerational equity in their endowments ; the selection and implementation of spending rule s; and the keys to effective governance and fiduciary duties . Upon completion of the course, the participants will become conversant in the theory and practice of portfolio construction, asset allocation. risk management. and the provision for liquidity in their long-term portfolios and in the financial structure of their institutions . A maximum of 31 CPE credits* can be earned for participation in this course. Depending upon the sessions attended, a maximum of 22 CPE credits may be earned for classroom time and a maximum of 9 additional credits may be earned for time spent in course mandated study groups. One credit is earned for every 50 minutes of class/study time. 

* Maximum number of CPE credits to be earned is subject to change based on course offerings.

Continuing Education Credits (CPE)

Commonfund is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.learningmarket.org  

The Endowment Institute, Level I & II, is a group live program.