
The First IPS Starter Guide: What Belongs in Your Organization’s First Investment Policy Statement
The Investment Policy Statement is where endowment governance begins. It converts the donor’s trust into operating instructions every future board can follow.
An IPS tells your board, your advisor, and your future leadership what this fund is for, how it should be managed, and how decisions get made. Without it, every investment question becomes a new debate. With it, your board has a framework that outlasts any individual member. That separation made sense when the tools for doing something different did not exist. It makes less sense now.












