“The most important thing — and we stress this in all environments — is for all organizations to have some sort of an operating reserve in addition to their endowment. Maybe three months of barebones, keep-the-lights-on expenses in cash … with very little volatility for times like these that we’re in right now.” – Clare Golla
In this episode of The Beacon Podcast, Jeff Jowdy speaks with Clare Golla about endowments, especially during times of economic uncertainty. Clare is the national head of endowment and foundation advisory services and the Chicago office managing director at global asset management firm AllianceBernstein.
In this timely discussion, Clare shares about the economic environment and endowment during these uncertain times. In her conversation with Jeff, she addresses:
For more from Clare, listen to her Inspired Investing podcast here.
And for more resources about endowments and foundations provided by AllianceBernstein, visit here.
About our guest
Clare Golla is a director and principal in the Chicago office of AllianceBernstein and serves nationally as the firm’s head of endowment and foundation advisory services.
In addition to her direct client relationships, she partners with advisors across the country to provide comprehensive wealth management solutions for foundations, endowments and other tax-exempt entities.
Clare is passionate about progressive change and positive outcomes for her clients, AB employees and the broader community, and she shares this as a frequent public speaker and volunteer for numerous organizations. Clare joined Bernstein in 2010 as a financial advisor and was promoted to principal in 2016. During this time, she also became a member of AB’s global Responsible Investing Committee, as well as the firm’s national Philanthropy Services team.
Prior to joining AB, Clare led the national institutional practice for a leading community development financial institution, building its presence in the nonprofit and philanthropic marketplace. She earned her BA, magna cum laude, from Harvard University and her MA from The University of Chicago, and she is a certified financial planning professional.
Clare has served on numerous boards of directors and finance committees, including the Oak Park-River Forest Community Foundation, Gary Comer Youth Center, Chicago Foundation for Women and the Harvard Club of Chicago. She lives in Oak Park, Illinois, with her husband, Adam, and two extraordinarily active daughters.