1. Executive Summary

The Board of Directors of the ACLU of Texas (ACLU-TX) and the ACLU Foundation of Texas (ACLU-TX Foundation)  are seeking an investment manager to maintain a portfolio for each organization, and to handle asset allocation advice, investment management, consulting and custody services for it's assets.

1. Statement of Purpose

The ACLU-TX and the ACLU-TX Foundation’s investments are to ensure long-term sustainability for each organization. The investment management firm will manage a pool valued at approximately $3, 100,000 and $1,250,000 for each respective entity. 

1. Scope of Work

The ACLU-TX  and the ACLU-TX Foundation seek a highly experienced investment management firm to maximize earnings for the ACLU-TX and the ACLU-TX Foundation assets based on our stated investment policy. The ideal firm will bring extensive experience in managing nonprofit assets, proven experience working with social justice or other types of nonprofit 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-TX and the ACLU-TX Foundation and management its investment portfolios accordingly.

1. Terms and Conditions

• Only consultants 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;
• Consultant shall indemnify and Hold Harmless ACLU-TX and the ACLU-TX  Foundation for any and all losses arising out of the Consultant's breach.
• ACLU-TX and the ACLU-TX Foundation has right to terminate Agreement at any time for any reason by written notice;
• Agreement may be modified only by written noticeby the ACLU-TX and ACLU-TX Foundation Executive Director (ACLU-TX and ACLU-TX Foundation ED) to Consultant, signed by the ACLU- TX and ACLU-TX Foundation ED and the duly authorized designee of the Consultant;
• Firm May not assign any Rights, Duties or Obligations, or Subcontract any Rights, Duties or Obligations, without written approval of the ACLU-TX and ACLU-TX Foundation ED,
• The use of ACLU-TX and the ACLU-TX Foundation logo or trademarks without prior approval of ACLU-TX and ACLU-TX Foundation ED is prohibited;
• ACLU-TX and the ACLU-TX Foundation owns all deliverables produced; No proposals or promotional materials will be returned;
• Firm shall comply with ACLU-TX and the ACLU-TX Foundation confidentially requirements;
• Firm agrees to disclose in writing its role as a fiduciary
• Firm agrees to disclose any SEC or trade association sanctions brought against it
• Governing law and venue is Texas.

1. 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.

The ACLU-TX and the ACLU-TX Foundation 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.

Deadline for submission is 4:00 pm EST on  December 22, 2024