Draft the document
Use complete adaptable clauses, decision tables, and free Word and PDF downloads.
Open the IPS templateFree board working-session tool
Build an investment policy statement outline for your board.
An investment policy statement (IPS) records what an investment pool is for, who can act, the limits they must follow, and how the board reviews results. Answer eight prompts to create a discussion outline—not an investment recommendation.
Example board discussion outline
Complete the inputs to tailor itNonprofit organizationLong-term investment pool
- Purpose and scopeDefine the pool, its mission job, controlling documents, and assets outside this policy.
- AuthoritySeparate decisions retained by the board from those delegated to a committee, staff, or provider.
- Objectives and riskConnect return needs, loss capacity, time horizon, and acceptable uncertainty.
- Cash flowsRecord spending, contributions, obligations, and minimum liquidity.
- ImplementationSet allocation boundaries, constraints, rebalancing authority, and provider discretion.
- MonitoringDefine benchmarks, reporting, compliance, fees, exceptions, and review cadence.
Questions to resolve
- What evidence supports the pool’s purpose, cash needs, and governance assignments?
- Which decisions still require board approval?
Use the result as an agenda and drafting scaffold. Confirm governing documents, gift instruments, applicable law, and professional advice before adoption.
Learn, draft, review, approve
Move from a blank page to governed decisions.
A useful IPS makes responsibility visible and records why the rules fit the institution. Start with the resource that matches the work in front of your board.
Prepare a nonprofit board
Compare operating cash, reserves, board-designated funds, and restricted endowment.
Read the nonprofit guideGovern an endowment
Connect donor intent, spending, purchasing power, liquidity, delegation, and monitoring.
Read the endowment guideRun the review
Record status, evidence, owners, and open actions across 25 policy checks.
Open the review workspaceQuestions boards ask
What belongs in an IPS—and what comes next?
Get direct answers on format, review frequency, committee duties, endowment spending, UPMIFA, and the difference between donor-restricted and board-designated funds.
Read all IPS questionsImportant: BoardReady IPS is an educational drafting utility. It does not determine prudence, recommend an allocation, interpret donor restrictions, or replace legal, tax, fiduciary, accounting, or investment advice.