Fiduciary Investment Services for Nonprofits & Associations
Investment policies, strategies, reporting, and communication built around the fiduciary and operational needs of nonprofit organizations.
Who We Serve
Serving 174 nonprofit and association clients nationwide
Please note that the clients listed above have only agreed to be listed as clients of Raffa and are in no way endorsing or expressing an opinion about Raffa. Please reference important disclosures at the bottom of the webpage.
WHO WE ARE
Raffa Investment Advisers
Raffa Investment Advisers is an investment advisory firm headquartered in Washington, DC. Founded more than 20 years ago, the firm was purpose-built to serve nonprofit organizations and membership associations nationwide. With this niche focus, our firm specializes in advising nonprofits with volunteer boards and investment committees, formal investment and spending policies, and board-designated reserve structures. Many of our clients maintain operating, intermediate, and long-term reserve pools with different liquidity needs and time horizons. We work directly with executive leadership and volunteer fiduciaries to align reserve structure with investment policy and portfolio implementation. Because we understand the day-to-day realities of staff-led organizations and volunteer boards, we focus on building investment programs that are straightforward, consistent with policy, and sustainable over time.
In assets under management
nonprofit and association clients
nonprofit client retention rate over the past 10 years*
Disclosures: Data as of 12/31/2025. As of that date, Raffa provided investment management services to $1,698,115,468. For purposes of this advertisement, Client includes client relationships which include multiple distinct entities under common decision-making control. Clients who went out of business or spent down their reserves are not counted as terminated clients for purposes of calculating the retention rate. Clients whose organization was bought or consolidated by or with another organization are not counted as terminated clients for purposes of calculating the retention rate. Clients with whom Raffa initiated the termination of services with are not counted as terminated clients for purposes of calculating the retention rate. Including such clients results in a 10-year nonprofit client retention rate of 98.88%. This is not meant to be an endorsement or expression of opinion about Raffa Investment Advisers and therefore it is not known if clients approve or disapprove of the investment advisory services provided by Raffa Investment Advisers. The data used to determine client retention rates was compiled exclusively by Raffa Investment Advisers and has not been audited or verified by a third-party.
WHAT WE DO
Fiduciary Investment Services for Nonprofits and Associations
Investment Policy Development
Investment Policy Development
Portfolio Management
Portfolio Management
Fiduciary Education & Engagement
Fiduciary Education & Engagement
Retirement Plan Advisory
Retirement Plan Advisory
Built for Nonprofits & Associations
WHY RAFFA INVESTMENT ADVISERS
BOUTIQUE FOCUS
Investing for nonprofits and associations is fundamentally different than investing as an individual or for-profit organization. For the past 20 years, we have helped nonprofit organizations navigate investment policy development and portfolio management strategy with their legal, ethical, and governance responsibilities at the forefront.
Institutional Strength
We partner with the Institutional Division of Charles Schwab & Company, Inc. (Schwab) to support operations, research, and safeguard client accounts. Additionally, Schwab provides Raffa with market insights, investment research, and analytics support recommended investments. Through Schwab, Raffa has access to a full range of trading services and client service support.
KNOWLEDGE IS MEANT TO BE SHARED
Insights & Resources
STUDY ON NONPROFIT INVESTING TOOL
Access Raffa’s all-new peer benchmarking tool to measure how your nonprofit or association compares to your peers and industry best practices on key indicators of financial health.
RAFFA LEARNING COMMUNITY
View our free upcoming webinars for nonprofit and association executives focused around all aspects of running a successful organization.
Disclosure: Please note that the clients listed above have only agreed to be listed as clients of Raffa and are in no way endorsing or expressing an opinion about Raffa. The above representative nonprofit client list was compiled as of 06/30/2024. The list is intended to comprise all of Raffa’s clients that have agreed to have their organization’s name listed, but it does not include clients that have not given Raffa authorization to be listed or any clients that have joined Raffa subsequent to 06/30/2024, as those clients have not yet been asked to be included. Don’t hesitate to request to contact one, or several, of the clients that have joined Raffa recently and are therefore not included in this list.