National Faith-Based Nonprofit Foundation OCIO Evaluation and Search
Organization & Objective
A national faith-based nonprofit foundation supporting hundreds of affiliated local independent organizations undertook a review of its investment governance and outsourced investment oversight approach. The foundation oversees multiple asset pools, including an endowment and an ongoing defined benefit plan.
The foundations objective was to ensure the investment program was supported by a service model aligned with the foundation’s structure and responsibilities, with a focus on:
• fiduciary governance and documentation
• committee input, education, and confidence
• fee reasonableness and value for services
• selecting the best-fit discretionary OCIO partner for the foundation’s future
Approach
The process started with a structured discovery phase to surface the committee’s priorities, constraints, and long-term objectives for the investment program. We then worked with the committee to frame these objectives in the context of fiduciary best practices, industry trends, and OCIO service model considerations. This included review of governance policies and documentation, fact-finding on the investment program, and due diligence on the incumbent advisor.
North Pier provided the independent fiduciary guidance, market intelligence, and process discipline needed to translate these priorities into clear evaluation criteria and a defensible partner selection.
With a clearer set of priorities established, the foundation then conducted a disciplined, criteria-based market review through an RFP process. This included outreach to qualified firms, side-by-side evaluation of proposals, and a structured finalist phase (including in-person meetings, reference checks, and focused follow-up diligence) to support a well-documented selection.
Outcomes
• Reduced OCIO fees across asset pools by 16% through competitive evaluation and negotiation
• Selected a discretionary OCIO partner aligned with the foundation’s objectives, governance approach, and operating needs
• Improved committee confidence through education and a structured evaluation process
• Reached a consensus decision following the well documented prudent process