Conferences & Programs: Task Force Foundations
Goal of the Task Force:
Develop for the persons who serve as trustees for endowments and foundations a set of practices that define a uniform fiduciary standard of care. The standard will describe the steps needed to satisfy the prudence mandates embraced by applicable laws and industry best practices.
The impact of recent investment industry scandals provoked demand among trustees of foundations and endowments for an independently developed standard of conduct for them that would have universal application. Consequently, in August 2009 the Investment Fiduciary Leadership Council commissioned an industry task force. The impetus for the task force developed as trustees revealed their need for a way to ensure that they follow a prudent process in the execution of their fiduciary duty. Trustees believe that donors to tax qualified charitable institutions and trusts would find increased comfort in knowing that their contributions are managed with the highest possible standard of care.
IFLC is uniquely qualified to facilitate the Task Force because it is the global advocate for uniform independently developed fiduciary standards. Many of its members are already certified against a defined fiduciary standard customized to fit their classification, which includes pension plan sponsors, investment advisors, investment managers, and firms that provide recordkeeping services to pension plans.
You may request more information about the task force by telephone at 1-866-933-IFLC (4352).
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