Welcome to the Broward Education Foundation’s Request for Proposals (RFP) page. Here you will find all of the current RFP’s available at the Broward Education Foundation. In order to download the pertinent documents regarding a specific RFP please use the links below.

Broward Education Foundation’s Request for Proposals (RFP)

990 as of 6/30/15

Audited Financials

Additional Information Requested

List of Responses for RFPs – Banking Services and Investment Services

  • Wells Fargo
  • PNC Bank
  • Bank United
  • 1650 Wealth Management
  • GSK Wealth Advisors
  • Merrill Lynch
  • Bank of America
  • SunTrust
  • Seaside
  • UBS
  • BB&T
  • Edward Jones
  • Morgan Stanley
  • Iberia Bank

RFP Questions and Answers

Q. What are your current investment fees?

A. We are charged in the range of 1% to 2% per annum on the balance of our holdings.

Q. Can you supply your current account analysis statement to view activity levels and services?

A. Merchant Account – April 2016 | Morgan Stanley – April 2016 | Citi Bank – April 2016 | Citi Bank February & March 2016

Q. Can you provide a copy of your investment policy?

A. Investment Policy Statement.

Q. Is BEF considering using the outsourced chief investment officer model to manage its portfolio?

A. We are asking financial investment companies to respond to our RFP for investment services. This model has not been a part of the discussions in this process.

Q. Which company is currently advising/managing the investment portfolio?

A. Morgan Stanley, Smith Barney

Q. Is there an existing Investment policy statement that is available to view?

A. A new investment policy determination will be strategized with the firm that receives the contract.  The existing policy will be replaced.  The current investment policy is in the Foundation’s financial statements, which are also available on the website.

Q. Will the selected company be given discretion to manage the portfolio within the given constraints of the investment policy?

A. Our expectations of the Foundation’s investment services is that the firm will work with the Foundation Finance Committee to set the investment policy and to agree on guidelines for fund management.

Q. What is the purpose of the ACH Debit Services?

A. Credit Card portals monthly fees, bank charges, DSK payroll expenses, Health plan payment as well as American Express payment.

Q. How many Debits are sent per month?

A. Gateway, PayPal and Sage once a month. DSK will be twice a month, with the variation of months of three pay period. Bank charges once a month as well as the health and AmEx payment. Credit card fees will fluctuate depending on the amount of donations we process internally as well as the ones done online from our sponsors.

Q. How many times per month do you submit ACH Debit Transactions?

A. Internally, we originated from four to five a month. Payroll every two weeks, Coventry Health and American Express payments.

Q. What is the highest total dollar amount of the combined ACH Debits you send over a 3  day period of time?

A. Up to this point, from 18k to 20k

Q. Do you require ACH Credit capabilities if so please provide the same information as referenced above for ACH Debits?

A. Yes and this is mainly to the donations we received from the State of Florida, credit card donations. Frequency is subject to the amount of donations and the highest combined amount within three days will be within the 5k.

Q. It appears you do not currently have remote deposit capture service please confirm this is accurate and if not please provide the scanner model name.

A. Accurate.

Q. When a deposited check is returned do you currently have the check automatically redeposited or is it mailed to you?

A. Mailed to us.

Q. Do you currently utilize a card program if so what is your credit limit, Rebate Rate or if you have a Rewards Program please describe the benefit you receive.

A. No card program in place.

Q. Previous Day information is referenced in the RFP; do you also need access to information throughout each day for intraday transactions such as incoming/outgoing ACH and Wire Transactions?

A. If possible, yes.

Q. Please provide the number of payments made each month.

A. June 2015 (167 Checks, $263,043.12 ), July 2015 (98 Checks, $83,402.78), August 2015 (140 Checks, $100,158.61), September 2015 (183 Checks, $386,845.18), October 2015 (146 Checks, $267,890.59), November 2015 (148 Checks, $134,083.76), December 2015 (123 Checks, $593,761.19), January 2016 (77 Checks, $79,469.31), February 2016 (162 Checks, $168,288.72), March 2016 (153 Checks, $162,028.59), April 2016 (145 Checks, $244,808.64), May 2016 (132 checks, $140,085.42)

Q. Please provide the total dollar amount of the payments being made over a 3 day period of time.

A. From 25k to 65k.