The Colorado Springs Health Foundation’s board of trustees has selected Denver firm Watershed Investment Consultants, Inc. as its first financial consulting firm to oversee the foundation’s investments. Mayor Steve Bach approved the selection and City Council confirmed it during its Feb. 10 formal session.
According to a news release from the health foundation, “the board conducted a thorough search process reviewing consulting firms in Colorado and across the nation to identify a firm to lead the effort to develop the foundation’s investment policy asset allocation and investment manager selection.”
Board Treasurer Thayer Tutt said, “Watershed will play a leading role in developing the investment structure for the foundation as we work to turn our $31 million corpus into a leading advocate and funder for the healthcare needs of people in the Pikes Peak region.”
Watershed provides non-discretionary investment consulting services primarily to institutional investors, including pension plans, foundations, endowments and health care organizations. The agreement, signed in mid-February, will be for a term of one year ending Dec. 31 with annual renewals until either party terminates the contract in writing.
The Colorado Springs Health Foundation is a nonprofit, public foundation committed to finding and filling voids in the Colorado Springs area where health and wellness services are not easily accessible, according to the release. The foundation was established by the city of Colorado Springs for the purposes of receiving, holding and managing all funds received from the city’s lease of the operations of Memorial Health System to the University of Colorado Health, as well as for holding the responsibility of creating grants and distributing funds for the purpose of addressing health issues in the city and Memorial Health System service area.