Calfee Financial
Advisors^®, Inc.

Calfee Financial Advisors provides holistic and global financial planning, guidance and other services to individuals and institutions. Peter Calfee is a registered representative with and offers securities and advisory services through LPL Financial (LPL)Member FINRA/SIPC. Calfee Financial Advisors, Inc., is separate from LPL Financial (LPL) and is not a broker dealer.

Compensation and Benefits Case Studies for Non-profit Institutions and Independent Schools

Addressing retention issues through compensation philosophy

Issue: A major foundation board wanted to assess morale of its seven-person staff, develop focused compensation suggestions responsive to individual needs and determine competitive industry salary, perquisite and retirement packages.

Our process: Extensive interviews with each employee identified two areas of concern that could lead to employee resignation. Coordination with in-force benefit programs was essential. We recommended and adopted tax-advantaged improvements including advanced degree reimbursement, redesign of salary payment structure, institution of a ‘top-hat’ selective retirement plan, and creation of a non-qualified deferred performance plan. The foundation adopted its first philosophy of compensation statement, a constant in the Calfee Financial process. The philosophy described the advantages of above-median pay and benefits, flexible work schedules and a cohesive and comfortable work environment.

Result: Presentation of the philosophy to the board elicited commentary and some disagreement. Ensuing discussions and follow-up meetings helped the board understand the long-term advantages to the comprehensive program, as they adopted the recommended package.

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