A spending policy statement (SPS) is crucial for nonprofits to ensure their funds are being spent in a way that benefits their mission, pleases their donors and adheres to legal policies. I see this firsthand as I serve as an investment committee member for my church. We meet quarterly to make investment decisions for the endowment and scholarship funds. As a Senior Portfolio Manager at Carnegie Investment Counsel’s Cleveland location, I am happy to share more information on improving a nonprofit spending policy.

As a portfolio manager at Carnegie Investment Counsel, I am involved with creating portfolios designed to help clients meet their goals. For individuals, corporations or nonprofits, investment policy statements (IPS) are a way to outline goals and objectives. Outside of work, I serve as an investment committee member for my church's endowment. As such, I am sharing my IPS experience as a portfolio manager and as a community member in my church. Let's start with some basics.