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Toigo Foundation 2011 Annual Report

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2011 Annual report (January - December 2011)
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ROBERT TOIGO FOUNDATION
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ROBERT TOIGO FOUNDATION

2011: A yeAr of shifting reAlities, reAlignment And reinvention. This year continued to be one of formidable change in the finance industry. In this climate, attention to diversity and inclusion was overshadowed by many equally important strategic organizational priorities. For Toigo, this shift presented an opportunity for re-engagement with its partners through education, while anticipating a turnaround as market dynamics improved.

At the heart of Toigo’s success are the relationships and partnerships it has forged with industry— powered by a reputation for excellence, service, and candor—often addressing issues around diversity no other organization is equipped to tackle. Toigo’s approach continues to benefit our Fellows and Alumni throughout their careers. The power of the Toigo message is driving critical change, as more professionals and industry leaders engage with Toigo Alumni and participate in our unique programming that explores relevant and innovative topics, fostering healthy and productive exchange about the critical importance of diversity, and the benefit to organizations that embrace it.

With the 2011 launch of the Toigo Institute for Leadership Excellence Advancement and Diversity (I-LEAD), we expanded our brand and the positive impact to our stakeholders by way of these initiatives focused on the advancement of experienced talent and service to the industry. New programming addresses real—and often overlooked—issues facing women and minorities and their pursuit of leadership within Finance.

Ultimately, the true power of Toigo lies in the minds and hearts of the ever-increasing number of men and women we serve, and in the larger community where they and valued stakeholders act as ambassadors, carrying forward the Toigo message and vision.

nAncy simsPresident & ceorobert toigo foundation

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rEggiE sandErs (HarVard ‘02 | w.k. kEllogg Foundation)Reggie Sanders is currently Director of Investments at the W.K. Kellogg Foundation. He previously served on the investment team at Kodak. Reggie began his career at AEW in Boston. In his current role, Reggie is responsible for investment policy and strategy, and portfolio and investment management.

MEnna MulugEtta (stanFord ‘13)Pursuing a joint degree in business and education, current MBA student and Toigo Fellow, Menna Mulugetta, has set her sights on launching a venture philanthropy fund to provide seed capital to education entrepreneurs. Her goal is to enable those who share her passion to transform underperforming schools in urban communities into educational centers of excellence. Her affi liation as a Toigo Fellow puts her one step closer to realizing her vision.

At the core of the toigo netWorK Are toigo felloWs And AlUmni—noW more thAn 1,000 strong. Our reach and impact extends, of course, to fi nance institutions (and beyond) and to established and aspiring leaders who understand the value and critical need for diverse thinking. Meet just a few of our many talented Fellows and Alumni who embody the Toigo spirit and are the power of this vibrant network:

JaMEs gutiErrEZ (stanFord ‘05)James Gutierrez is a leading social entrepreneur and innovator in providing economic opportunity to lower-income communities across the country. He embodies the qualities of “The Toigo Leader”—an individual who leverages his talents for the good of many. As a result of James’s commitment and leadership, tens of thousands of families in underserved communities across the country have built credit and established their fi nancial identities.

“With the globalization of our economy, coupled with rapidly changing demographics, diversity is a necessity for businesses focused on future growth and success, and for long-term investors and key stakeholders interested in shareholder value and the well-being of society. This is the principle that has driven the performance of Toigo’s work.”

dEnisE l. naPPiEr | ConnECtiCut statE trEasurEr and ViCE CHair oF tHE toigo Board oF dirECtors

JosEPH tanious (ColuMBia ‘09 | J.P. Morgan assEt ManagEMEnt)Joseph Tanious, Executive Director, is a Global Market Strategist on the J.P. Morgan Funds Global Market Insights Strategy Team and is a fi xture on Bloomberg Television and CNBC. Joe provides timely commentary on U.S. equity markets and investment strategy—infl uencing the investment decisions of organizations around the world.

At our 2010 Gala, we announced plans to expand our mission in 2011 to address the increasing needs of our MBA Fellows, our Alumni population, and the industry. The Foundation’s work is an expression of its founding values of ethical leadership and a broader diversity of thought and experience in business. Our MBA Fellowship and Institute initiatives carry forward these values by supporting the advancement of individuals, institutions, and industry.

MBA Fellowshiptoigo’s mission: • Promote a framework of academic excellence, ethical leadership, and social responsibility that provides aspiring minority

students with a strong entrée into fi nance and fi nancial fi rms with multi-cultural talent poised for leadership.

• Seek to deepen leadership skills and foster a genuine spirit of community give-back among young, aspiring fi nance professionals.

• Enhance the minority student’s MBA experience with mentoring, unmatched networking opportunities, and technical and leadership skills training.

• Deliver stand-out minority MBA talent to fi nance fi rms/teams seeking to capitalize on diversity of thought and experience.

Toigo Institute for Leadership Excellence Advancement & Diversity toigo’s mission: • Foster a leadership model that capitalizes on diverse, multi-cultural perspectives and enriches individual, institutional, and

industry performance.

• Provide real-world career solutions that accelerate the advancement of mid-level and senior minority fi nance professionals.

• Challenge fi nance institutions to infuse greater diversity of thought and experience into all areas of their business—in the boardroom and beyond.

• Promote high ethical standards and leadership excellence, and responsibility for give-back among the individuals we serve.

In 2011, Toigo continued the rollout of the principal initiatives that anchor the Institute’s programming.

By way of the Bridge to Business initiative—funded through a $1 million grant from the Orbis Foundation—the Toigo Institute awarded grants of $100,000 each to support the entrepreneurial drive of two Toigo Alumni who have successfully launched their own fi nance ventures. Bridge to Business provides much-needed seed capital and valuable start-up and operating connections to young entrepreneurs—fi nancial resources and introductions that have proven invaluable to the successful launch and operation of these ventures.

The 2011 Bridge to Business award recipients were Nili Gilbert (Columbia ’03), Co-Founder of Matarin Capital Management, and Tarrus Richardson (Harvard ’96), Founder of Investors in Minority Business (IMB) Development Corporation.

Bridge to Business is ensuring that a new generation of emerging managers is poised to reshape the investment industry with a strong start. Through an innovative give-back component, Bridge to Business grant recipients pledge future fi nancial support that will ensure the long-term fi nancial sustainability of the program.

It has been well documented that diverse boards deliver better results and higher returns for the organizations they serve. Despite the clear evidence (and fi duciary duty), corporate, non-profi t, and foundation boards today still show a signifi cant lack of diversity. Through its board diversity initiative, Toigo is committed to fostering change that will improve the composition of board leadership in the future.

All A Board is anchored by an online clearinghouse that allows ethnic minority and women professionals poised for board service to create profi les that showcase their experience and potential for board service. Additional program components, including board education and training, are in the works—all aimed at educating boards about the value diverse experiences and points of view bring, while preparing diverse candidates for boardroom responsibilities. The platform is well-aligned to serve as a pipeline for other industry initiatives focused on more experienced talent.

In the photo above, Ann Sheehan, Director of Corporate Governance with the California State Teachers’ Retirement System (CalSTRS), and Anne Simpson, Senior Portfolio Manager - Investments from the California Public Employees’ Retirement System (CalPERS) join CNN Business News Reporter, Felicia Taylor, at Toigo’s 2011 Groundbreakers Summit in a conversation around board diversity, and their own complimentary initiative promoting diverse directors known as 3D (Diverse Directors Database).

Our inaugural Groundbreakers Women in Leadership Summit—hosted in December 2011 - featured an impressive roster of women professionals of all ages, ethnicities, and cultural backgrounds who are leaders in business, fi nance, government, and philanthropic ventures.

Toigo created Groundbreakers to bring together senior leaders (and those on their way), share insights, and inspire each other. From business trends and public policy to philanthropy, the 2011 summit was an opportunity for attendees to engage in conversation and learn about areas outside their current “domain.” United States Treasurer Rosie Rios’ keynote address—“Women: The Engine of the New Economy”—set the tone for vibrant networking, personal growth, and open exchange.

“The speakers and attendees worked in a variety of industries ranging from government and fi nance, to fashion, non-profi ts and start-ups. They were Caucasian, African-American, Asian and Hispanic. Some were 25; others were 65. They spoke on topics ranging from women on boards, launching a company, fi nding your passion, serving others and mentorship vs. sponsorship, to name a few.”

MEgHan doHErty, “CoMMon tHEMEs For suCCEss EMErgE in a diVErsE rooM,” ForBEs, dECEMBEr 14, 2011

20112011

assEts undEr ManagEMEnt, oVEr wHiCH toigo aluMni HaVE dirECt inVEstMEnt rEsPonsiBility (in BotH tHE PriVatE and PuBliC sECtors).

60% oF toigo aluMni Hold sEnior ManagEMEnt Positions oF ViCE PrEsidEnt and aBoVE.

1 out oF 4 toigo aluMnaE arE asCEnding as lEadErs witHin tHEir own organiZations.

SENIOR LEADERSHIP

ADVANCEMENT OF WOMEN

$86 BILLION+

20112011

Toigo’s Annual Gala amplifi es the power of Toigo connecting members of our vast and vibrant community—Alumni, Fellows, donors, industry thought leaders, academic partners, industry partners, and more. It’s a time for networking, insight and inspiration. A one-on-one conversation between Founder of The Carlyle Group David Rubenstein and Gen. Colin L. Powell, USA (Ret.), provided the nearly 1,000 guests in attendance with a rare, intimate look at one of the nation’s greatest leaders, who through his vision, leadership, and determination has brought together people of varying—and often opposing—beliefs to fi nd and implement solutions to our nation’s most pressing challenges. In public service and in private life, his impact has been immeasurable. For his life-long dedication to excellence and the positive impact he has had on communities around the world, the Toigo Foundation honored General Powell with the Lifetime of Leadership Award.

generAl colin l. PoWell, UsA (ret) is A Uniting force.

Putting your dollars to work

Other $ 252,7222 – 10%

Direct Program Services $ 2,522,133 – 81%

Management & Administration $ 324,670 – 9%

Year after year, Toigo has demonstrated careful and responsible management of stakeholders’ contributions for the specific purpose of executing our mission. With a history of prudent cash management, accountability, and transparency, the organization carries out its work to achieve the highest impact of direct programs and services offered to those who directly benefit.

2011201120112011FoundErSue Toigo Fitzgibbon Toigo Associates

EXECutiVE oFFiCErsChairman Marcos A. Rodriguez Palladium Equity Partners, LLCVice Chair Denise Nappier State of ConnecticutTreasurer Walt Koziol Illinois Municipal Retirement FundSecretary Andrea Beldecos UBS AG

goVErning BoardWilliam L. Cobb, Jr. The Church Pension FundDavid Fann PCG Asset ManagementJay Ferguson Vicente Capital PartnersJose Fernandez StepStone GroupSusan Graham Ernst & Young LLPCarla Harris Morgan StanleyEric Holoman Magic Johnson EnterprisesTroy Jenkins CB Richard Ellis InvestorsKate Jonas BlackRockHenry Jones California Public Employees’ Retirement SystemTerry L. Jones Syncom Management Company, Inc.Melvin Lindsey Artio Global InvestorsVictor MacFarlane MacFarlane PartnersDavid Marchick The Carlyle GroupWin Neuger PineBridge InvestmentsCarlyle Peake BBVAShaka A. Rasheed Citadel Asset ManagementJanice Cook Roberts Kohlberg Kravis Roberts & Co.Howard Sanders CitigroupShelley Ilene Smith GrayShell Consulting

adVisory BoardChristopher J. Ailman California State Teachers’ Retirement SystemJoe Alejandro Patrolmen’s Benevolent AssociationSolange F. Brooks California State Teachers’ Retirement SystemMoctesuma Esparza Maya CinemasJohn C. Liu Offi ce of the New York City ComptrollerLisa Mazzocco University of Southern CaliforniaAnne Stausboll California Public Employees’ Retirement SystemScott Stedman The Yucaipa Companies Ash Williams Florida State Board AdministrationPaul R. Yett Hamilton Lane Advisors

PrEsidEnt & CEoNancy Sims Robert Toigo Foundation

2011201120112011

www.ToigoFoundation.org


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