b'PRESIDENTSTRUSTED AND VERIFIEDMESSAGE THE RELATIONSHIP BETWEEN FINANCIAL ADVISORS AND THEIR clients is one built over years on trust established over the long term. Pittsburgh Foundation donors see real value in relying on their financial advisor as they manage their foundation fund. Pittsburgh Foundation President and CEO Lisa SchroederThats the mission of the Foundations Third-Party speaks with Foundation donor and financial advisor DougInvestment Manager program. Advisors who successfully Stirling on Explorer, the LEED-certified boat-turned-floating- complete a due-diligence process led by the Investment staff classroom for Rivers of Steels Science, Technology, Engineeringqualify to become third-party managers. These advisors are and Math education program serving the regions schoolthen authorized to continue managing assets donated to districts. Stirling was one of scores of donors hosted Sept. 12the Foundation by their clients. Their activities are closely for a tour of riverfront developments at this years fall donormonitored by the Foundations Finance and Investment event. The following is excerpted from Schroeders remarksstaff. This arrangement allows trusted advisors to manage to the group: donor assets, providing their clients with the level of comfort, investment style and service they expect in the effort to One of the many reasons I was so thrilled to be asked tomaximize their clients grant-making potential.lead the Foundation is that I experienced firsthandSince its inception in 2007, the program has grown as a grantee, as a board member and as the president offrom five advisors to nearly 70. And with this growth has Riverlifethe tremendous collective power we have tocome the need for an approval and onboarding process improve lives. Some of what I have learned along the that is as efficient as it is rigorous. Thanks to the efforts of way will inform my leadership at the Foundation:Investment Analyst Bradley Jones and Development Officer You can have very diverse stakeholders who haveAmy Razem, the application procedure will soon be almost strong points of view and still be collaborative. entirely online. The combination of trust and ongoing verification To be successful for the long term, we need to bedeepens relationships while ensuring that donors and their known and trusted broadly in the community. Iadvisors reach their giving goals through the Foundation. have been impressed to see that we are perceived that way now by key constituencies, but we can reach further. I believe were poised to be the community convener on important issues so that asGROWTH OF THIRD-PARTY many viewpoints as possible are honored in decisionINVESTMENT MANAGER PROGRAMmaking for our regions future. This will be the80 $200standard at The Pittsburgh Foundation in deciding how to better the community. $18070The active involvement of our donors, grantees, staff and Board, as well as public, private and$16060philanthropic partners, is as important as the$140resources we provide. We need more of you working with us to identify opportunities and understand the50 $120root causes of significant problems, so that we can act boldly and invest accordingly. We will accomplish40 $100more by working together.$80Lastly, we will continue to honor the values that haveS R 30 )formed the regions character. Pittsburgh native son,E $60 SG NA O Iacclaimed author and historian David McCullough20N LA LN M B E R O F M U A S E T S ( I N M S Isaid it best when he addressed the first Riverlife$40Task Force in 1999: Dont make it like other places,10because Pittsburgh was never, ever like other places.$20Make it a place where people want to bring those who they love . Be as ambitious as you possibly can. 0 07 08 09 10 11 12 13 14 15 16 17 18 19 $0Active investment managers Total third-party investment Approved investment managers manager program assets Lisa Schroeder (inmillions)president & CEO'