FA-IQ reached out to advisors to ask: How are you supporting your nonprofit clients, particularly during the Covid pandemic?

Andy Ferguson, founder and chief executive officer at Proquility Private Wealth Partners. Las Vegas-based Ferguson has been in the industry for 38 years and his firm has $315 million in client assets.

“We work with our non-profit clients to help facilitate their giving strategy, including what the local community they serve needs the most under current circumstances.

For those that have a flexible mandate, we’re finding their focus is on identifying the hardest-hit areas and populations and structuring their giving to try and get resources to those most impacted.

Andy Ferguson
During the Covid shutdown last year, the Las Vegas community was disproportionately affected due to its local economy dependence on people gathering together. One nonprofit sought out those areas receiving the least amount of government aid during that period and found that the Native American populations in communities on the outskirts of town were particularly hard hit. Their contributions to those communities, largely to provide food and basic necessities, helped bridge the gap.

Here's another example: a nonprofit that serves children ages five to 17 found that shutting down their physical locations put these kids in largely unsupervised (because most parents had jobs that didn't afford work-from-home flexibility) home environments where they were expected to attend school remotely. They provided remote support to encourage attendance and help with homework when the school district was overwhelmed administratively.

Having a flexible mandate to address current pressing issues like Covid, rather than just being able to fund longer-term projects/commitments, made a lot of difference last year and arguably accomplished some of the best benefits a nonprofit can offer. There were real-time, highly visible benefits to these efforts, as opposed to long-range objectives that are only appreciated when the project is completed.”

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