Request for Proposal
Investment Management and Banking Services
November 17, 2025
Overview:
The Blue Springs Education Foundation (BSEF) is soliciting proposals from qualified applicants to provide Investment Management Services for its investment funds and Banking Services for its everyday banking needs. The purpose of this Request for Proposal is to identify the investment management and banking provider who has demonstrated capabilities that best satisfy BSEF’s investment return objectives, risk parameters, and banking requirements as described herein.
Background:
BSEF was officially established as a non-profit organization on November 18, 2013. The Blue Springs Education Foundation’s mission is to enhance the excellent programs and instruction synonymous with the Blue Springs School District and provide assistance for student success in the K-12 experience and beyond.
For more information about the Foundation, please visit www.bluespringsef.org
Please find our board of directors and current investment policy enclosed.
At the current time, the Foundation has just over $3.3 million under investment in the following funds:
Domestic Equity – 50%
International Equity – 20%
Intermediate-Term Fixed Income – 19.75%
Short-Term Fixed Income – 10%
Money Market – .25%
Banking Services Description
• The BSEF currently has one checking account.
• The Current BSEF banking checking account balance hovers between $50,000 and $100,000 throughout the year.
• The foundation issues approximately 500 checks in a calendar year.
Responsive bidders may choose to bid on investment management and banking services jointly, or a prospective bidder may bid on only investment management services or banking services. BSEF reserves to consider the bids for each type of service jointly or separately and may award the grant of a contract to one or more entities based upon its discretion.
Deadline for Submission:
Please submit answers to the questions provided below, along with any supporting documentation, to the Principal Point of Contact by 5:00 p.m. on December 22, 2025. Please provide electronic copies to [email protected]. The BSEF Finance Committee will select the top three firms to move forward with a formal presentation. This date will be determined after the top three firms are selected. Presentations will take place at the Bartow Administrative Center located at 1801 NW Vesper, Blue Springs, MO 64015. The final decision will be made by BSEF’s Board of Directors upon recommendation by the BSEF Finance Committee.
Principal Point of Contact:
Laura Willeke
Executive Director, Blue Springs Education Foundation
[email protected] / 816-874-3306
Inquiries:
Please direct any inquiries regarding this Request for Proposal to the principal point of contact.
RESPONSE TO REQUEST FOR PROPOSAL
1. Please describe your company’s previous experience managing charitable funds in terms of tenure, size, and complexity.
2. Please describe your company’s overall investment philosophy. How are your investment accounts managed? What types of investments make up a typical portfolio? What expectations should the Foundation have in terms of risk and return? If your company uses model portfolios, please provide relevant historical performance data.
Types of investments that make up a typical portfolio:
Risk and Return:
Relevant historical performance:
3. What costs should the Foundation expect to bear in return for your management of its funds? What are your fees? What are the underlying fees inherent in the investments that you use? What are the typical trading costs that the fund should expect to bear?
4. How does your company prepare for and handle cash disbursements from the fund?
5. Please explain how your company would handle its relationship with the Foundation. Who would be its primary contact(s)? How and how often would those people report to the Foundation? What real-time access would the Foundation have to its investment data?
6. Please provide the relevant biographical information of the people who would handle the Foundation’s portfolio.
7. The Blue Springs Education Foundation values robust partnerships. Please detail potential support of the Foundation through event sponsorships, Corporate Council membership, and/or participation in Real World Learning initiatives with our students.
8. Please provide any alternative or additional services that you can provide that may be of benefit to our organization.
9. Please provide examples of other foundations or not for profit organizations that you work with, if any. In addition, please provide up to three references for your investment management services.
10. Please provide the number of clients gained and lost over the last three years.
11. In summary, please explain why the Foundation should choose your company over its competitors.
BSEF Banking Services
A. Maintain proper records with cut-off at the end of each month for separate accounts maintained by BSEF which may include, but is not limited to:
1. General Operating Account – includes general deposits, as well as payroll and accounts payable transactions.
By the second working day of each month, provide with the monthly statement by account, a listing of checks cleared in check number order and a check image. Deposit document (or image) must also be included, and each deposit must appear on the bank statement first by date deposited then in amount order.
B. Provide interest on account balances at a fixed or variable rate.
C. Provide on-line banking services to include electronic statements, internal transfers, wire transfer, ACH, stop payments, transaction history (current and previous day), balance reporting, account reconciliations, etc.
D. Furnish pre-printed deposit books.
E. Accept electronic deposits and provide necessary equipment.
F. Furnish necessary coin (silver) wrappers and accept deposits in bulk.
G. Allow stop payment orders.
H. Furnish pre-printed checks.
I. Provide “for deposit only” stamp.
J. Provide overdraft protection.
K. Provide Positive Pay on disbursement accounts.
L. Permit and facilitate wire transfers.
M. Permit and facilitate ACH transactions.
N. Provide direct deposit of payroll.
O. Provide merchant debit card services.
Bidders may list additional services on an addendum page.
BSEF Financial Information
BSEF’s current financial records are available for examination by interested bidders during regular business hours at 1801 NW Vesper, Blue Springs, Missouri 64015.
12. STANDARD TERMS AND CONDITIONS
PROPOSAL VALIDITY PERIOD: Submission of the proposal will signify the Vendor’s agreement that its proposal and the content thereof are valid for 90 days following the submission deadline and will become part of the contract that is negotiated between the BSEF and the successful Vendor.
ADDENDA: If, in the opinion of the Chief Financial Officer, additional information or interpretation is needed by the Proposers, an addendum will be issued. Any addendum or addenda issued by the Chief Financial Officer that may include changes, corrections, additions, interpretation, clarification, or information, and issued seventy-two (72) hours or more before the scheduled closing time for filing proposals, Saturday, Sunday and legal holidays not included, shall be binding upon the Proposer. The BSEF shall supply copies of such addenda on the BSEF Web Site and to all Proposers, but failure of the Proposer to receive or obtain such addenda shall not excuse the Proposer from compliance therewith if awarded the Purchase Agreement.
CANCELLATION, DELAY OR SUSPENSION OF SOLICITATION; REJECTION OF PROPOSALS: The BSEF may cancel, delay or suspend this solicitation if in the best interest of the BSEF as determined by the BSEF. The BSEF may reject any or all proposals, in whole or in part, if in the best interest of the BSEF as determined by the BSEF. The BSEF reserves the right to reject any or all proposals not in compliance with public contracting procedures.
INDEPENDENT CONTRACTOR: The relationship to the BSEF with the successful firm and each of its employees and agents shall be that of an “independent contractor” and not an employee. The successful firm shall have single‐point responsibility for all persons and legal entities that provide services to the BSEF, be they employees of the firm or independent contractors. The successful Proposer is responsible for determining the appropriate means and manner of performing the work. The successful Proposer represents and warrants now, and as part of the contract for services with the BSEF pursuant to this RFP, that the successful Proposer is not an employee of the BSEF, and that the successful Proposer at all times meets and will continue to meet the specific independent contractor standards.
Among other obligations of successful Proposer consistent with this statute, successful Proposer shall be responsible for federal and state taxes applicable to any compensation or payments paid to successful Proposer under this contract and, the BSEF will not withhold from such compensation or payments any amounts to cover successful Proposer’s federal or state tax obligations.
AMERICANS WITH DISABILITIES ACT COMPLIANCE: Proposers agree that if awarded a Purchase Agreement, the Contractor will comply with all applicable provisions of the Americans with Disabilities Act of 1990, 42 USC Section 12101 et seq. If any Proposer requires special assistance or auxiliary aids during the proposal, evaluation or award process, please notify the BSSD Administration office (816 224-1300 at least two (2) business days prior to the required assistance.
SPECIAL CONDITIONS: Where special conditions are written in the Request for Proposal, these special conditions shall take precedence over any conditions listed under these Proposal Terms and Conditions.
COMPLIANCE WITH LAW: The provisions of any Contract shall be construed in accordance with the provisions of the laws of the State of Missouri without reference to its conflict of law provisions. Any action or suits involving any question arising under the Contract must be brought in the appropriate court in Jackson County Missouri. All statutory, charter and ordinance provisions that are applicable to public contracts in the State of Missouri shall be followed with respect to the Contract. In the event that either party shall be required to enforce the obligations of the eventual Contract through legal action, the prevailing party shall be entitled to payment of its attorney’s fees by the non-prevailing party.
In connection with its activities under the Contract , Vendor shall comply with all applicable federal, state and local laws and BSEF policies or regulations.
Federal Work Authorization Program: Prior to commencement of any work contemplated under this Agreement, Vendor shall provide to the BSEF a sworn affidavit and other sufficient documentation to affirm its enrollment and participation in the Federal Work Authorization Program. Federal Work Authorization Program means the eVerify program maintained and operated by the United States Department of Homeland Security and the Social Security Administration, or any successor program. Vendor shall also provide the BSEF a sworn affidavit affirming that it does not knowingly employ any person who is an unauthorized alien in connection with the contracted services.
Background Checks: Before employment of any employee, contractor, subcontractor, consultant or subconsultant who is an individual for work on the services set forth in this Agreement, the Vendor shall conduct through appropriate state agencies background checks as may be standard for entities providing services to public schools, including without limitation, a thorough review of the list of registered sex offenders as provided by the Jackson County Sheriff’s Department, the Federal Bureau of Investigation’s criminal history files, the Missouri Highway Patrol’s criminal history database and sexual offender registry, the Family Care Safety Registry, or the central registry of child abuse and neglect of the Missouri Children’s Division; and any such individual who does not pass such background check as determined by the BSEF in its sole discretion shall not be permitted to enter the premises where the services are being performed or any other school district property or to work on the services under the Contract. The Vendor shall include all of these requirements in its contracts with their subcontractors and suppliers.
COST OF RESPONDING: This Request for Proposal does not commit the BSEF to pay any costs incurred by any Proposer in the submission of a response, or in making necessary studies or designs for the preparation thereof, or for procuring or contracting for the items to be furnished under the RFP.
13. CONTRACT AWARD AND EXECUTION:
a. The BSEF reserves the right to make an award without further discussion of the proposal submitted. Therefore, the proposal should be initially submitted on the most favorable terms the Vendors can offer. It is understood that the proposal will become a part of the official file on this matter without obligation to the BSEF.
b. The general conditions and specifications of the RFP and as proposed by the BSEF and the successful Vendor's response, as amended by agreements between the BSEF and the Vendor, will become part of the contract documents. Additionally, the BSEF will verify Vendor representations that appear in the proposal. Failure of the Vendor's products to meet the mandatory specifications may result in elimination of the Vendor from competition or in contract cancellation or termination.
c. Once BSEF staff has selected the Vendor that can best meet the BSEF’s needs, based on the evaluation factors, the BSEF will negotiate the specific BSEF system requirements with the selected Vendor, using the Vendor’s proposal to determine the cost of the system components and options as determined in the sole discretion of the BSEF. After that negotiation period has ended and BSEF has, in its sole discretion, finalized the system requirements, the Vendor selected as the apparent successful Vendor will be expected to enter into a contract with the BSEF substantially in the form and content attached, but with the addition of specific information pertaining to the agreed‐upon system to be provided for the BSEF. The successful Proposer is expected to execute this contract verbatim unless it has proposed specific changes to the contract in its response to this RFP and has later obtained agreement from the BSEF for the contract change. All such proposed changes should be accompanied by an estimate of the cost savings to the BSEF that would result from the recommended change.
d. If the selected Vendor fails to sign the contract within five (5) business days of delivery of the final contract, the BSEF may elect to cancel the award and award the contract to the next‐highest‐ranked Vendor. No cost chargeable to the proposed contract may be incurred before receipt of a fully executed contract.
14. DEFENSE, INDEMNIFICATION, HOLD HARMLESS AND INSURANCE REQUIREMENTS:
In addition to other standard contractual terms, the BSEF will require the selected Vendor to comply with the defense, indemnification, hold harmless and insurance requirements as outlined below: Vendor shall defend, indemnify and hold the BSEF, its officers, officials, employees and volunteers harmless for, from and against any and all claims, injuries, damages, losses or suits including attorney fees, arising out of or resulting from the acts, errors or omissions of the Vendor and its agents in performance of this Agreement, except for injuries and damages caused by the sole negligence of the BSEF.
The Vendor shall procure and maintain, for the duration of this Agreement, insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by the Vendor, its agents, representatives, employees or subcontractors. The cost of such insurance shall be paid by the Vendor.
Insurance shall meet or exceed the following unless otherwise approved by the BSEF.
LIABILITY INSURANCE: VENDOR will maintain a policy of liability insurance in the form, and from an insurance company, approved by the BSEF, which company is admitted or otherwise licensed to do business in the State of Missouri.
I. Said insurance shall insure VENDOR for the benefit of the BSEF in not less than the amount of $1,000,000 single limit liability for each occurrence, and aggregate coverage of not less than $2,000,000.
II. The insurance shall cover any occurrences, resulting from any conduct, act, or failure to act, by VENDOR, or by an employee, representative, or agent of VENDOR, and which occurrence or occurrences result in damages of any kind, including, but not limited to, personal injury or death to any person or persons, damage to any property (personal or real), or damage to any contractual or other commercial right or interest.
III. Certificate of Insurance: VENDOR shall require its insurance carrier to provide to the BSEF a certificate of insurance evidencing said coverage. Said policy shall provide that such coverage cannot be modified, terminated or canceled by the carrier without six (6) months written notice sent by certified mail by the insurance carrier to the BSEF. It is agreed that no person shall perform any acts on behalf of VENDOR without having said insurance in full force and effect.
15. NON-COLLUSION AFFIDAVIT:
The Vendor submitting a proposal thereby certifies that no officer, agent, or employee of the BSEF who has a pecuniary interest in this RFP, has participated in the Price Agreement negotiations on the part of the BSEF, that the proposal is made in good faith without fraud, collusion, or connection of any kind with any other Vendor of the same request for proposal and that the Vendor is competing solely in its own behalf without connection with, or obligation to, any undisclosed person or firm. Vendor will complete the enclosed Non-Collusion Affidavit and submit it with their proposal.
16. EQUAL OPPORTUNITY COMPLIANCE:
The BSEF is an equal opportunity employer and requires all Proposers to comply with policies and regulations concerning equal opportunity. All Proposers must be certified as Equal Employment Opportunity Affirmative Action Employers. The Proposer, in the performance of this agreement, agrees not to discriminate in its employment because of an employee’s or applicant’s race, religion, national origin, ancestry, sex, sexual preference, age, or disability.
17. OTHER COMPLIANCE REQUIREMENTS:
In addition to any nondiscrimination and affirmative action compliance requirements previously listed, the Proposer awarded a contract shall comply with federal, state and local laws, statutes, and ordinances relative to the execution of the work. This requirement includes, but is not limited to, protection of public and employee safety and health; environmental protection; waste reduction and recycling; the protection of natural resources; permits; fees; taxes; and similar subjects.
18. OWNERSHIP OF DOCUMENTS:
Any reports, studies, conclusions, and summaries prepared by the Proposer, including all proposal documents, shall become the property of the BSEF.
19. ORAL INSTRUCTIONS:
Oral instructions or information concerning the RFP documents or the project given out by officers, employees, or agents of the BSEF to prospective Proposers shall not bind the BSEF. Any changes or revisions to the specifications shall be binding only if issued in writing by the BSEF by addendum. The BSEF reserves the right to officially amend or cancel an RFP after issuance.
20. INVOICING:
Purchase Order number shall appear on all invoices, packing lists, packages, shipping notices, instruction manuals, and any correspondence. Vendor shall invoice BSEF within thirty (30) days of completion of scope of this RFP. Invoices submitted for payment shall identify the goods and services, the unit price, quantity, extended price, order number and invoice total.
Blue Springs Education Foundation
Board of Directors
Officers
Sheryl Taylor, Keller Williams Realty Partners, Inc. - Chair
David Gilmore, Equity Wealth Partners - Vice Chair
Mike Chiles, JE Dunn Construction - Secretary
Kirk Sampson, Blue Springs School District - Treasurer
Cara Anger, Drumm Farm Center for Children - Immediate Past Chair
Board Members
April Agate, Blue Springs School District Board of Education
Chris Ary, Major Saver
JoLynne Bartolotta, Fogel-Anderson Construction
Jennifer Berka, Hollis + Miller Architects
Bethany Chiles, The Pirch Agency at Country Financial
Kay Coen, Blue Springs School District Board of Education
Michelle Donner, Blue Springs School District, NEA Representative
Damon Frost, DSI Medical LLC
Scott Fullerton, BerganKDV
Jessica Galles, Blue Springs School District
Dr. Bob Jerome, Blue Springs School District Superintendent of Schools
Stephanie Ladd, Retired
Laura Mermelstein, Blue Springs School District, CEA Representative
Tom Meyer, Meyer Music
Chris Lievsay, Mayor of Blue Springs, Missouri
Ken Logan, Retired
Julius Oswald, Oswald Rew LLC
Kristena Richey, Richey Real Estate
Brad Seib, Synergy Wealth Solutions
Lyle Shaver, Spring Oak Properties
David Sutphin, Siemens
Marissa Wamble, Raytown Quality Schools
Purpose
Blue Springs Education Foundation
Investment Policy Statement
The purpose of the Blue Springs Education Foundation (BSEF) is to enhance the quality of education in the Blue Springs School District and support innovation and excellence in the following manner:
(a) To award grants for students, staff, programs, departments, and schools to improve student achievement, increase motivation to learn, and enrich programs and offerings in school districts.
(b) To award grants or scholarships for students to continue their education beyond high school and/or participate in educational programs which improve student achievement and/or promote acquiring marketable skills, especially for at-risk students.
(c) To award grants for organizations which support or enhance student and/or family welfare in Blue Springs and the surrounding area.
Time Horizon
BSEF has a perpetual time horizon.
The time horizon for investment objectives and strategies utilized to make investment decisions will emphasize a long-term outlook, and interim performance fluctuations will be viewed with a corresponding perspective. It is acknowledged that over short periods (i.e. one quarter, one year, and in extraordinary circumstances, three-to-five-year periods), returns will vary from performance expectations and this investment policy thus serves as a buffer against ill-considered action.
Spending Policy
BSEF creates an annual budget. This budget is reviewed and recommended by the Finance Committee and is then approved by the Executive Committee and entire board. The annual budget, fund establishing documents, and board approval are taken into consideration prior to spending. Annually, BSEF spends modestly and has a pattern of raising more funds than grants distributed.
Role of the Fund Advisor/Organization
The fund advisor/organization will act as BSEF’s primary investment institution.
The Finance Committee shall review the allocation and performance of investments that make up the Investment Portfolio no less than annually, within a reasonable time period following the end of the calendar year. The purpose of the annual reviews is to ensure that the current asset mix can reasonably be expected to achieve the investment objectives and can be amended from time to time. After any review, and upon prior approval by the board, the Finance Committee is empowered to change the allocation of the investments that make up all or any portion of the investment portfolio if such change is deemed necessary or desirable to achieve the investment objectives.
All funds donated to BSEF will be invested through (Entity) and become property of BSEF. BSEF will make exceptions for any fund over $100,000.
For a donor to host their own fund within BSEF a minimum donation or pledge of $20,000 is required unless prior approval has been given by the finance committee. All individual funds are required to pay the annual administrative fees and will earn any applicable investment income. Funds from donors contributing less than $20,000 (such as a new scholarship, grant, district project, etc.) will be placed into a shared fund and will not earn interest or pay administrative fees.
Role of Investment Firm
• Invest the pools to closely track broadly diversified benchmarks in the selected asset base
• Rebalance funds to target asset allocation
• Have the ability to rebalance when new contributions are added
• Provide quarterly fund statements
• Publish monthly performance of the pools and quarterly analyses of the pool components
• Review performance and benchmark tracking of funds within each pool
• Review the composition of each pool’s benchmark to maintain appropriate reflection of each asset class
• Recommend asset allocation of investment mixes