September 16, 2020

Scope of Work

The ACLU-NC seeks a highly experienced investment management firm to maximize earnings for ACLU-NC assets based on our stated investment policy. The ideal firm will bring extensive experience in managing non-profit assets; proven experience working with social justice or other types of non-profit organizations; a commitment to working with LGBTQ and communities of color; and a commitment to socially responsible investing. 

Primary responsibilities will include: 

  • Assisting the board with creating and maintaining a fiscally responsible investment policy;
  • Providing expertise and advice on investment strategies that best meet the objectives of the investment policy;
  • Reporting to the finance committee on a quarterly basis;
  • Maximizing the return on our investments while minimizing board liability through prudent investing. Ideally, the investment management firm will serve as a fiduciary of the ACLU-NC and manage its investment portfolio accordingly.

Minimum criteria for consideration:

  • 10-years of investment management experience.
  • 5-years of experience managing investments for non-profit organizations.
  • Licensed as a financial professional in the state of North Carolina.
  • Proof of success in meeting client investment objectives.
  • Experience in the area of socially responsible investing.

Term of Contract

The contract will begin as soon as possible (no later than November 1, 2020) and will be of a two-year duration with options for an extension.  

Terms and Conditions

  • Only firms that meet the minimum criteria should apply. Respondents that do not meet the criteria will not be considered;
  • Develop a presentation to the Finance Committee of the Board of Directors if selected;
  • Consultants shall indemnify and Hold Harmless the ACLU-NC for any and all losses arising out of the Consultant's breach.
  • ACLU-NC has the right to terminate the Agreement at any time for any reason by written notice;
  • The agreement may be modified only by written notice by the ACLU-NC Executive Director (ED) to Consultant, signed by the ACLU-NC ED and the duly authorized designee of the Consultant;
  • The firm may not assign any Rights, Duties or Obligations, or Subcontract any Rights, Duties or Obligations, without the written approval of the ACLU-NC ED; 
  • The use of ACLU-NC logo or trademarks without prior approval of the ACLU-NC ED is prohibited; 
  • The ACLU-NC owns all deliverables produced; No proposals or promotional materials will be returned;
  • Firms shall comply with ACLU-NC confidentially requirements;
  • The ACLU-NC reserves the right to choose multiple investment managers or none;
  • The firm must agree to disclose in writing its role as a fiduciary;
  • The firm must agree to disclose any SEC or trade association sanctions brought against it;
  • The governing law and venue is North Carolina.

Proposal Content and Submittal Requirements

Written proposals (no more than ten pages) must include: 

  1. A description of your firm that includes your fee structure, investment  philosophy, experience working with other non-profit organizations, and an explanation of any sanctions you have received;
  2. A description of your historical performance for other similar organizations; 
  3. Reputational information and 1-2 testimonies from other organizations for whom you manage their portfolios;
  4. Your firm’s willingness to incorporate client feedback and align with ACLU values;
  5. Your firm’s commitment to diversity, equity, and inclusion either through your work with traditionally marginalized and disenfranchised communities or through your ability to show you hire and retain staff from these groups;
  6. Your firm's ability to act in an outsourced chief investment officer (OCIO) capacity.

The ACLU-NC encourages proposals from all qualified individuals without regard to race, color, religion, gender, sexual orientation, gender identity or expression, age, national origin, marital status, citizenship, disability, veteran status and record of arrest or conviction, or any other characteristic protected by applicable law.

The deadline for submission is 4:00 pm EST on October 30, 2020.  Please review the full RFP, which includes additional information about our organization here.

Point of Contact

All proposals and any subsequent questions should be directed to Anna Koltchagova, Chief Financial Officer at