Many nonprofit organizations have a cash reserve fund of which the primary objective is to take on limited risk. The secondary priority would be the amount of yield that fund is able to get. Considering these two concerns many nonprofits consider just two choices, they typically either put the money in a savings account which generates very little yield, or they can buy certificates of deposit (CDs) from a local bank. The shortcomings of both choices are typically low yields and an FDIC insurance of only up to $250,000. An additional problem with this way of managing a cash reserve account is the risk associated with holding all funds at one bank. The resources available to us at Duncan Williams Asset Management allow us to shop around many banks all over the nation to find the most competitive yields while also maintaining full FDIC insurance for clients invested in this program. We have seen increases in yield with our clients’ cash reserve funds while either maintaining or reducing the risk from a more comprehensive FDIC coverage. Our accredited staff can help your nonprofit organization make the most of its cash reserve account, giving you more resources to give back to the community.
David Scully
David Scully has over 20 years of experience in investment research and team management. As President, he oversees the company’s daily operations and implements its strategic objectives. David holds the Chartered Financial Analyst (CFA®) and Certified Financial Planner (CFP®) designation. A graduate of the University of Georgia with a bachelor’s degree in economics, David is a proud Memphis native deeply committed to his community. He actively contributes to numerous organizations, holding leadership positions such as: • President, Board of Directors, Wolf River Conservancy • President, Board of Directors, Memphis Botanic Garden • Treasurer, Board of Directors, Assisi Foundation • Vice President, Board of Directors, Economic Club of Memphis • Member, Boards of Directors, University of Memphis Foundation, St. Agnes Academy, and CBHS Alumni Board David also serves on the Greater Memphis Chamber of Commerce’s Chairman’s Circle and Small Business Council. Previously, he was Treasurer for the University of Memphis Research Foundation Board and remains an engaged Young Presidents’ Organization (YPO) member. Beyond his professional and civic endeavors, David values his role as a husband to Michelle and father to their two daughters, Ruthie and Mae Carter. He is an enthusiastic coach who supports his daughters in basketball, soccer, and softball. Faith and family are central to David’s life, and the Scully family are active members of St. Peter Church.
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