Issued: September 30, 2024
Response Deadline: October 25, 2024
1. Introduction
Wasatch Homeless Healthcare, dba Fourth Street Clinic is a not-for-profit organization committed to providing high-quality healthcare to individuals experiencing homelessness in Utah. We aim to ensure that financial resources are managed in alignment with our mission, vision, and strategic goals to better serve our community. Fourth Street Clinic is seeking proposals from qualified investment management firms to provide professional investment management services.
2. Objective
Fourth Street Clinic seeks an investment manager to oversee and manage its investment portfolio to ensure that assets are responsibly and effectively invested, with a focus on balancing risk and return while aligning with our organization’s values. The selected firm will be responsible for managing Fourth Street’s investment portfolio to achieve financial growth in line with our ethical guidelines.
3. Scope of Work The selected firm will be required to:
- Develop and implement an investment strategy consistent with Fourth Street Clinic’s mission, financial objectives, and risk tolerance.
- Manage Fourth Street Clinic’s investment portfolio (estimated at $6 million dollars) in accordance with best practices and in alignment with the organization’s investment policy.
- Provide performance reporting on a quarterly basis, including portfolio valuation, performance summaries, asset allocation, and adherence to the investment policy.
- Meet regularly, but no less than quarterly, with the Fourth Street Clinic’s Finance Committee to review portfolio performance and recommend any changes to the investment strategy.
- Ensure compliance with relevant regulations, ethical standards, and socially responsible investment guidelines. Fourth Street Clinic currently restricts investment in guns and tobacco.
- Advise on market conditions and other factors that may affect portfolio performance.
4. Proposal Requirements
Interested firms must submit a comprehensive proposal that includes the following:
4.1. Firm Information
- Overview of your firm, including history, ownership structure, and experience in managing nonprofit portfolios.
- Description of the firm’s investment philosophy and approach, particularly for nonprofit organizations.
- Summary of the firm’s experience with socially responsible or mission-aligned investing.
4.2. Team and Expertise
- Information on the team that will be responsible for managing Fourth Street Clinic’s investments.
- Biographies and qualifications of key personnel, including their roles and relevant experience.
- Description of the firm’s client support structure.
4.3. Investment Strategy and Philosophy
- Outline your firm’s approach to developing an investment strategy for Fourth Street Clinic.
- Proposed asset allocation strategy, including the rationale for the chosen allocations.
- Discussion of risk management and your firm’s approach to balancing risk and return.
- Approach to socially responsible investing, particularly in healthcare-related and nonprofit sectors.
4.4. Performance and Reporting
- Overview of your firm’s past performance managing similar portfolios.
- Sample quarterly reports provided to clients.
- Explanation of how you measure and report on performance relative to benchmarks.
4.5. Fee Structure
- Detailed explanation of your fee structure, including all management fees, advisory fees, and any additional charges.
- Explanation of whether fees are fixed or based on assets under management.
4.6. References
Provide at least three references from nonprofit organizations or similar clients that have utilized your investment management services. Responses should not exceed 15 pages.
5. Evaluation Criteria
Proposals will be evaluated based on the following criteria:
- Experience and qualifications of the firm and team.
- Understanding of Fourth Street Clinic’s mission and alignment with socially responsible investing principles.
- Investment strategy and approach to managing risk.
- Cost structure and fees.
- Quality of reporting and client service.
- References from current or past clients.
6. Submission Instructions
Proposals must be submitted electronically in PDF format to Edelmira Medina at emedina@fourthstreetclinic.org by 5pm on October 25, 2024. Please include “Fourth Street Clinic Investment Management RFP” in the subject line.
7. Timeline
- RFP Issuance: September 30, 2024
- Deadline for Questions: October 11, 2024
- Proposal Submission Deadline: October 25, 2024
- Finalist Presentations (if applicable): TBD during the week of November 4, 2024
- Award Notification: November 15, 2024
8. Questions and Clarifications
All questions regarding this RFP must be submitted in writing via email to Edelmira Medina at emedina@fourthstreetclinic.org by 5pm on October 11, 2024. Responses to all questions will be shared with all potential bidders.
9. Terms and Conditions
WHHC reserves the right to:
- Accept or reject any or all proposals.
- Request additional information from any respondent.
- Modify or cancel this RFP at any time.
- Negotiate contract terms with the selected firm.
10. Confidentiality
All information provided by Fourth Street Clinic in this RFP is confidential and must not be disclosed without the written permission of Fourth Street Clinic.
Wasatch Homeless Healthcare, dba Fourth Street Clinic
409 West 400 South, Salt Lake City, UT 84101
Office Ph #: (801) 364-0058 Ext: 1361
FourthStreetClinic.org