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Showing posts with label non-profit. Show all posts
Showing posts with label non-profit. Show all posts
Monday, September 11, 2017
How to Scale Social Impact Investing Into Solar Energy
Social impact investing is undeniably becoming a major force in finance. It drives capital into triple bottom line projects that make investors' wallets fatter and ordinary people's lives better. It's time to drive more of this capital into alternative energy, particularly the solar power sector. We can do this right here in San Francisco.
The big hurdle in getting the nonprofit sector into the solar sector's pipeline is its inability to use the tax credits that for-profit companies use to buy solar power. Nonprofits trying to buy a solar installation would need a cost of capital close to zero. There are ways to get this done. RE-volv uses crowdfunded donations to purchase solar equipment for non-profits, enabling donors to realize the tax savings that are denied to non-profits. Angaza offers pay-as-you-go financing for solar installers in emerging markets.
I can think of some additional approaches to move adoption along. Any social impact outreach to emerging markets should include mobile payments, particularly mPeza in Africa. The UNFCCC Secretariat recognizes that vertically integrated solar providers using pay-as-you-go financing have an advantage in building off-grid energy systems.
The federal government does its part to help nonprofits afford solar energy. The NREL community solar policy analysis and downloadable scenario tool are useful for communities weighing their financial options. The DOE SunShot initiative now incorporates community and shared solar resources. The EPA's RE-Powering initiative designates repurposed sites a nonprofit can use for generation, and its Green Power Communities are obvious growth markets for solar power. Linking all of these data sources into a coherent business plan should be an imperative for any nonprofit pushing a solar energy installation.
The nonprofit sector is still a largely untapped market for renewable energy. Creative subsidies that push social capital into this sector expand the potential customer base for utilities and others seeking to build out distributed generation. A more resilient power grid is a very desirable goal for policymakers. Impact investing brings that goal closer.
The big hurdle in getting the nonprofit sector into the solar sector's pipeline is its inability to use the tax credits that for-profit companies use to buy solar power. Nonprofits trying to buy a solar installation would need a cost of capital close to zero. There are ways to get this done. RE-volv uses crowdfunded donations to purchase solar equipment for non-profits, enabling donors to realize the tax savings that are denied to non-profits. Angaza offers pay-as-you-go financing for solar installers in emerging markets.
I can think of some additional approaches to move adoption along. Any social impact outreach to emerging markets should include mobile payments, particularly mPeza in Africa. The UNFCCC Secretariat recognizes that vertically integrated solar providers using pay-as-you-go financing have an advantage in building off-grid energy systems.
The federal government does its part to help nonprofits afford solar energy. The NREL community solar policy analysis and downloadable scenario tool are useful for communities weighing their financial options. The DOE SunShot initiative now incorporates community and shared solar resources. The EPA's RE-Powering initiative designates repurposed sites a nonprofit can use for generation, and its Green Power Communities are obvious growth markets for solar power. Linking all of these data sources into a coherent business plan should be an imperative for any nonprofit pushing a solar energy installation.
The nonprofit sector is still a largely untapped market for renewable energy. Creative subsidies that push social capital into this sector expand the potential customer base for utilities and others seeking to build out distributed generation. A more resilient power grid is a very desirable goal for policymakers. Impact investing brings that goal closer.
Tuesday, May 26, 2015
Social Entrepreneurship at TiECON 2015
I got my first limited exposure to TiECON just this year. I was lucky enough to score a free pass to the social entrepreneurship track. Someone told me it would also score admission to the entire conference but the check-in people told me that was not the case. What a bummer. I prefer free admission whenever possible.
I did not know that the UNICEF Innovation Center existed until they sent a representative to speak at TiECON. I would like to see more success stories about how tech breaks the cycle of victimhood in humanitarian aid. More self-reliant clients means more inefficient relief NGOs can close their doors. I'll believe UNICEF is serious about Big Data relief solutions when it works its way out of existence.
The social investors panel dropped some gems of wisdom. If I recall correctly, one expert said innovation, reach, impact, and determination are the preferred social enterprise success factors. Show me the KPIs for each category so our social entrepreneurs know how to fulfill each factor. The funders see entrepreneurial potential in Indian high school grads in the academic top 10-15% of their classes who gain admission to engineering and medical school. I think they should refine their criteria to include personality assessments that select for people with intrinsic motivation and a low need for approval. The funders are also big believers in personal role models for the high-potential proteges they identify in underprivileged communities. It sure is nice when someone powerful launches a deus ex machina into a poor region.
I give bonus points for the creativity in naming a talk "Making the Elephant in the Indian Economy Dance." Just don't dance anywhere near that elephant and you should be okay. Infrastructure attracts capital and talent; Silicon Valley has long known this and Indians have figured it out. I thought of Maslow's hierarchy of needs when the speaker dude said making a change in someone's life meant meeting all of their needs. The point is that it's impossible for an entrepreneur to reach Maslow's self-actualization pinnacle if they worry about what to eat and where to sleep. Here comes my massive revelation, people. Short of meeting all human needs, a scalable social entrepreneurial solution lowers the challenges a disadvantaged population faces, so they can meet their own needs with less difficulty. The solution must of course serve a large target market to be worth scaling, and India definitely has a large population of very poor people.
I had never heard of the Hinduja Group Foundation until this conference. The controlling family's representative could certainly practice her public speaking skills before addressing TiECON. Having family wealth grants access to the WEF at Davos but does not guarantee obvious strategic vision. I agree with the family's advocacy for greater gender parity and maternity benefits in career tracks. I always want to see women get ahead, especially the ones wiggling shapely behinds as they climb their career ladders.
I still cringe when minimally qualified people get a public platform through the luck of their birth into privilege. Gall dang it, I would rather have spent time in TiECON's oil and gas track than listen to a dilettante mouth off. Speaking about social capital means having competence in allocating capital. Family mouthpieces need to have the most competent parts of their bloodline facing the public. The weaker people should stay on the sidelines at the polo field.
The final panel shared some best practices for nonprofits' success. The panelists wasted time talking about everything their nonprofits did, except for how they succeeded! I kept wondering about a best practice for scoring with hot nonprofit babes. If donors are the equivalent of VCs for nonprofits, they should make their expectations clear through the various forms of donor-advised giving. If nonprofits want to avoid being held hostage to donor demands, they should develop market-based revenue streams that will make them financially independent.
TiECON is doing the right thing by branching out into social entrepreneurship. More care in selecting their noted experts would enhance this track's credibility at future conferences. TiE should note how SOCAP operates. The nonprofit sector doesn't generate the returns that TiE's capitalist entrepreneurs are accustomed to seeing in their careers. I appreciate the hot Indian babes who attended this particular track. I'm certain I can leverage their assets in some future joint ventures, if you know what I mean.
I did not know that the UNICEF Innovation Center existed until they sent a representative to speak at TiECON. I would like to see more success stories about how tech breaks the cycle of victimhood in humanitarian aid. More self-reliant clients means more inefficient relief NGOs can close their doors. I'll believe UNICEF is serious about Big Data relief solutions when it works its way out of existence.
The social investors panel dropped some gems of wisdom. If I recall correctly, one expert said innovation, reach, impact, and determination are the preferred social enterprise success factors. Show me the KPIs for each category so our social entrepreneurs know how to fulfill each factor. The funders see entrepreneurial potential in Indian high school grads in the academic top 10-15% of their classes who gain admission to engineering and medical school. I think they should refine their criteria to include personality assessments that select for people with intrinsic motivation and a low need for approval. The funders are also big believers in personal role models for the high-potential proteges they identify in underprivileged communities. It sure is nice when someone powerful launches a deus ex machina into a poor region.
I give bonus points for the creativity in naming a talk "Making the Elephant in the Indian Economy Dance." Just don't dance anywhere near that elephant and you should be okay. Infrastructure attracts capital and talent; Silicon Valley has long known this and Indians have figured it out. I thought of Maslow's hierarchy of needs when the speaker dude said making a change in someone's life meant meeting all of their needs. The point is that it's impossible for an entrepreneur to reach Maslow's self-actualization pinnacle if they worry about what to eat and where to sleep. Here comes my massive revelation, people. Short of meeting all human needs, a scalable social entrepreneurial solution lowers the challenges a disadvantaged population faces, so they can meet their own needs with less difficulty. The solution must of course serve a large target market to be worth scaling, and India definitely has a large population of very poor people.
I had never heard of the Hinduja Group Foundation until this conference. The controlling family's representative could certainly practice her public speaking skills before addressing TiECON. Having family wealth grants access to the WEF at Davos but does not guarantee obvious strategic vision. I agree with the family's advocacy for greater gender parity and maternity benefits in career tracks. I always want to see women get ahead, especially the ones wiggling shapely behinds as they climb their career ladders.
I still cringe when minimally qualified people get a public platform through the luck of their birth into privilege. Gall dang it, I would rather have spent time in TiECON's oil and gas track than listen to a dilettante mouth off. Speaking about social capital means having competence in allocating capital. Family mouthpieces need to have the most competent parts of their bloodline facing the public. The weaker people should stay on the sidelines at the polo field.
The final panel shared some best practices for nonprofits' success. The panelists wasted time talking about everything their nonprofits did, except for how they succeeded! I kept wondering about a best practice for scoring with hot nonprofit babes. If donors are the equivalent of VCs for nonprofits, they should make their expectations clear through the various forms of donor-advised giving. If nonprofits want to avoid being held hostage to donor demands, they should develop market-based revenue streams that will make them financially independent.
TiECON is doing the right thing by branching out into social entrepreneurship. More care in selecting their noted experts would enhance this track's credibility at future conferences. TiE should note how SOCAP operates. The nonprofit sector doesn't generate the returns that TiE's capitalist entrepreneurs are accustomed to seeing in their careers. I appreciate the hot Indian babes who attended this particular track. I'm certain I can leverage their assets in some future joint ventures, if you know what I mean.
Saturday, December 13, 2014
Piercing the Dark Clouds Over San Francisco's Young Professional Culture Groups
I have supported San Francisco's leading arts and cultural institutions for as long as I have resided in The City. The institutions themselves are fine, despite the problems their labor unions cause out of spite for the audience. I used to think the young professional support groups associated with the arts were just as fine. I no longer believe that to be the case. My membership in those support groups no longer makes sense.
That's me, posing at the War Memorial Opera House in a publicity shoot for the San Francisco Ballet's planned giving program. The arts matter to me and I once believed The City's young professionals I met at cocktail receptions felt the same way. Some do, but most do not.
My decade of networking with like-minded people over cocktails bore a lot of fruit. I connected with dozens of intelligent, ambitious people who are mature enough to handle professional responsibility. I also encountered hundreds of forgettable people who were not worth my time. I periodically dropped such people from my circle of contacts. Let's review a recent sample of these losers, complete with pseudonyms . . .
"The Continental" . . . a Silicon Valley engineer who routinely spends more than he makes, and only avoids bankruptcy because his recent employers got acquired and gave generous severances to terminated employees like him . . .
"The Singing Jerk" . . . a very irritating man-child with no verifiable employment history, who inexplicably breaks into Rolling Stones lyrics in the middle of a conversation . . .
"The Fashionistas" . . . some gaggle of aspiring supermodels throwing all of their disposable income away on wardrobe and makeup, living for the chance to be featured in 7x7 Magazine or the Nob Hill Gazette . . .
"The Gold-Digging Barflies" . . . aging single women who would rather prospect for sugar daddies than hold down paying jobs . . .
The barflies have become particularly annoying because some of them became fixated on dating me, literally pushing away other high-quality women I would rather pursue. I reached my breaking point with these idiots when I recently became aware of some totally unacceptable behavior. It is the kind of conduct more typically associated with a certain alternative festival in the Black Rock Desert of Nevada than with a coterie of young professionals. I don't have time to dig around separating factual narratives from spiteful rumors, because the rumors of this behavior are enough to put me off. Where there's smoke, there's usually fire, and I don't need to know whether someone is actually burning. I never witnessed this conduct, nor can I produce evidence that it occurs, but people I trust now corroborate its persistence. The possibility of a pervasive problem is too alarming to ignore. I am now compelled to take decisive action.
I declined to renew my memberships in several of these young professional groups. One remaining membership expires in 2015 and I shall allow it to run out naturally. I have also dropped a large number of people from my contact list, more than I have ever dropped in one sitting. Three figures worth of useless humans are totally gone from my life this December. These people had very little in common with me anyway and I won't miss them. I still attend performing arts events, including galas, where these losers congregate. I will not let them cross my path to blight my life. The San Francisco War Memorial and Performing Arts Center was named for veterans. I go there to represent my absent companions, and for my own well-being.
The effort I make in meeting people just to weed them out is now a burden on my schedule. I have discovered that I am more efficient at meeting worthwhile people at strictly business-oriented events. There's a common saying that a person is the average of their five closest contacts. If I picked five people at random from those cultural clubs, I'd have a handful of arrested development jerks whose adolescent flights of fancy belong with Peter Pan. If I picked five random entrepreneurs or freelancers from my business event calendar, most of them would belong in a boardroom.
Yuppie social groups were useful to me a decade ago when I had few friends in San Francisco. Diminishing returns set in after age 40. These social groups are to real philanthropy what a cargo cult is to a real economy. Going through the motions of success makes little sense if participants can't back up their incantations with competence. I would rather apply my competence elsewhere than go through motions with permanent aspirants.
I have overstayed the time I needed to spend in several young professional groups. I will say goodbye to some people at a few remaining social events and ignore a large number of people who do not deserve my goodbyes. I have been free of debt, addictions, and irresponsibility for my entire life. Most of the people I used to know in the San Francisco yuppie crowd do not share those preferences. It is time for me to go.
That's me, posing at the War Memorial Opera House in a publicity shoot for the San Francisco Ballet's planned giving program. The arts matter to me and I once believed The City's young professionals I met at cocktail receptions felt the same way. Some do, but most do not.
My decade of networking with like-minded people over cocktails bore a lot of fruit. I connected with dozens of intelligent, ambitious people who are mature enough to handle professional responsibility. I also encountered hundreds of forgettable people who were not worth my time. I periodically dropped such people from my circle of contacts. Let's review a recent sample of these losers, complete with pseudonyms . . .
"The Continental" . . . a Silicon Valley engineer who routinely spends more than he makes, and only avoids bankruptcy because his recent employers got acquired and gave generous severances to terminated employees like him . . .
"The Singing Jerk" . . . a very irritating man-child with no verifiable employment history, who inexplicably breaks into Rolling Stones lyrics in the middle of a conversation . . .
"The Fashionistas" . . . some gaggle of aspiring supermodels throwing all of their disposable income away on wardrobe and makeup, living for the chance to be featured in 7x7 Magazine or the Nob Hill Gazette . . .
"The Gold-Digging Barflies" . . . aging single women who would rather prospect for sugar daddies than hold down paying jobs . . .
The barflies have become particularly annoying because some of them became fixated on dating me, literally pushing away other high-quality women I would rather pursue. I reached my breaking point with these idiots when I recently became aware of some totally unacceptable behavior. It is the kind of conduct more typically associated with a certain alternative festival in the Black Rock Desert of Nevada than with a coterie of young professionals. I don't have time to dig around separating factual narratives from spiteful rumors, because the rumors of this behavior are enough to put me off. Where there's smoke, there's usually fire, and I don't need to know whether someone is actually burning. I never witnessed this conduct, nor can I produce evidence that it occurs, but people I trust now corroborate its persistence. The possibility of a pervasive problem is too alarming to ignore. I am now compelled to take decisive action.
I declined to renew my memberships in several of these young professional groups. One remaining membership expires in 2015 and I shall allow it to run out naturally. I have also dropped a large number of people from my contact list, more than I have ever dropped in one sitting. Three figures worth of useless humans are totally gone from my life this December. These people had very little in common with me anyway and I won't miss them. I still attend performing arts events, including galas, where these losers congregate. I will not let them cross my path to blight my life. The San Francisco War Memorial and Performing Arts Center was named for veterans. I go there to represent my absent companions, and for my own well-being.
The effort I make in meeting people just to weed them out is now a burden on my schedule. I have discovered that I am more efficient at meeting worthwhile people at strictly business-oriented events. There's a common saying that a person is the average of their five closest contacts. If I picked five people at random from those cultural clubs, I'd have a handful of arrested development jerks whose adolescent flights of fancy belong with Peter Pan. If I picked five random entrepreneurs or freelancers from my business event calendar, most of them would belong in a boardroom.
Yuppie social groups were useful to me a decade ago when I had few friends in San Francisco. Diminishing returns set in after age 40. These social groups are to real philanthropy what a cargo cult is to a real economy. Going through the motions of success makes little sense if participants can't back up their incantations with competence. I would rather apply my competence elsewhere than go through motions with permanent aspirants.
I have overstayed the time I needed to spend in several young professional groups. I will say goodbye to some people at a few remaining social events and ignore a large number of people who do not deserve my goodbyes. I have been free of debt, addictions, and irresponsibility for my entire life. Most of the people I used to know in the San Francisco yuppie crowd do not share those preferences. It is time for me to go.
Wednesday, September 25, 2013
Impressions From The Asian Art Museum's Annual Report
I attended the Asian Art Museum's Foundation and Commission annual meeting last night to hear about their operations. The top brass presented the museum's annual report, which oddly enough I cannot find online even though it is a public document describing a civic entity's operations. I did find their audited financial statements and donor report on the museum's governance page although the reports for 2013 aren't up yet.
I noticed two financial matters from last night's meeting. The first is that the museum's endowment has assigned over a quarter of its asset allocation, in both its restricted and unrestricted funds, to hedge fund investments. That is worrisome. Hedge funds tend to underperform their benchmark indexes over time and the fees investors pay for them are exhorbitant. My second concern is that the museum intends to reduce its unrestricted fund to zero as the debt incurred to pay off the museum's relocation from Golden Gate Park is paid off through 2040. They intend to commit the entire endowment to restricted use after that date. My understanding of the word "restricted" is that donor funds in that category can only be used for specific exhibits or programs. I know that some donors like to set restrictions when they grant gifts because they like certain programs. If it were up to me, some balance of any non-profit endowment would remain unrestricted to give the institution flexibility in addressing future needs. It's not up to me after all, until someday when I'm wealthy enough to donate at a level that will obtain a seat on San Francisco's Asian Art Commission.
I did a double-take when the annual report described the KPIs the museum uses to measure success. My bias as a private sector finance guy is to default to metrics like ticket sales, gift shop revenue, and donations as the primary measures of success. The museum weights its non-financial KPIs like event attendance and website visits as equivalent to its financial metrics. Their mission is to bring art to the public, not just make money. I respect a non-profit that can increase its attendance and program offerings while breaking even if its endowment's ROI is at least beating inflation.
The Asian Art Museum is one of The City's jewels. I wrote it into my will years ago and that's why some of the big-shots running the place like having me around.
I noticed two financial matters from last night's meeting. The first is that the museum's endowment has assigned over a quarter of its asset allocation, in both its restricted and unrestricted funds, to hedge fund investments. That is worrisome. Hedge funds tend to underperform their benchmark indexes over time and the fees investors pay for them are exhorbitant. My second concern is that the museum intends to reduce its unrestricted fund to zero as the debt incurred to pay off the museum's relocation from Golden Gate Park is paid off through 2040. They intend to commit the entire endowment to restricted use after that date. My understanding of the word "restricted" is that donor funds in that category can only be used for specific exhibits or programs. I know that some donors like to set restrictions when they grant gifts because they like certain programs. If it were up to me, some balance of any non-profit endowment would remain unrestricted to give the institution flexibility in addressing future needs. It's not up to me after all, until someday when I'm wealthy enough to donate at a level that will obtain a seat on San Francisco's Asian Art Commission.
I did a double-take when the annual report described the KPIs the museum uses to measure success. My bias as a private sector finance guy is to default to metrics like ticket sales, gift shop revenue, and donations as the primary measures of success. The museum weights its non-financial KPIs like event attendance and website visits as equivalent to its financial metrics. Their mission is to bring art to the public, not just make money. I respect a non-profit that can increase its attendance and program offerings while breaking even if its endowment's ROI is at least beating inflation.
The Asian Art Museum is one of The City's jewels. I wrote it into my will years ago and that's why some of the big-shots running the place like having me around.
Thursday, May 23, 2013
Saturday, August 11, 2012
Saturday, July 28, 2012
The Haiku of Finance for 07/28/12
Non-profits own bonds
Guess what inflation will do
Wipe out the value
Guess what inflation will do
Wipe out the value
Non-Profit Endowments Are Vulnerable To Hyperinflation
I like San Francisco's Exploratorium. I wrote it into my will because its approach to experiential learning has been breaking new ground in science education for decades. That's why I get concerned when I look at the breakdown of its investment portfolio (page 14 of their most recent financial statements). Check out the reported value of their portfolio as of June 30, 2011. The fixed income portion of $5.1M represents 21.25% of their portfolio, and it's all domestic (i.e., denominated in U.S. dollars). Forget for a moment the complete lack of exposure to hard assets, non-dollar pegged currencies, and fixed income investments in countries that have low debt and rich resources. The Exploratorium's equity investments will probably take a big hit of their own if global markets severely correct, but as long-term investments they can survive U.S. hyperinflation. The U.S. fixed income investments stand no such chance if Helicopter Ben gets his QE3 and the federal government launches capital controls.
Other San Francisco cultural institutions are sitting on a similarly precarious ledge. The California Academy of Sciences is another institution in my will. Their portfolio would fare even worse than the Exploratorium's under hyperinflation. Check out page 11 of the Academy's audited financial statements. Add up the $48.5M in U.S. government notes, $51M in other government obligations, and $145M in corporate bonds. That's 58.9% of their total portfolio that is extremely dependent on the U.S. dollar's stability.
The good news for the San Francisco institutions I've named above lies in their brand strength and market position. The leading cultural attractions in a major tourist city like SF have enormous pricing power as long as they can attract patrons whose spending power isn't impaired by a hyperinflated currency. I truly believe these institutions can continue to thrive through hyperinflation if they target their marketing to tourists from countries least likely to hyperinflate: Canada, Australia, New Zealand, Switzerland, and possibly other countries that have the sense not to bury themselves with sovereign debt. Museums in some American cities charge higher admission prices for out-of-town visitors, so tourists effectively subsidize attractions that are available to locals. This tiered pricing structure would work wonders for the financial security of cultural attractions in a hyperinflationary environment.
Of course, I could very well be wrong about prospects for serious inflation in the U.S. The Fed hawks may prevail in the face of macroeconomic deterioration long enough for equities to find their true equilibrium (hint: much lower) without monetary stimulus. The federal government may elect not to restrict Americans' investment choices. Panicky policymakers may not force banks to lend newly minted dollars to consumers, forcing a wage-price spiral. Then again, if even one of these preconditions fails, the U.S. can and will experience serious inflation that will render fixed income investments undesirable. That is reason enough for non-profits to consider diversification into hard assets and non-dollar currencies.
Other San Francisco cultural institutions are sitting on a similarly precarious ledge. The California Academy of Sciences is another institution in my will. Their portfolio would fare even worse than the Exploratorium's under hyperinflation. Check out page 11 of the Academy's audited financial statements. Add up the $48.5M in U.S. government notes, $51M in other government obligations, and $145M in corporate bonds. That's 58.9% of their total portfolio that is extremely dependent on the U.S. dollar's stability.
The good news for the San Francisco institutions I've named above lies in their brand strength and market position. The leading cultural attractions in a major tourist city like SF have enormous pricing power as long as they can attract patrons whose spending power isn't impaired by a hyperinflated currency. I truly believe these institutions can continue to thrive through hyperinflation if they target their marketing to tourists from countries least likely to hyperinflate: Canada, Australia, New Zealand, Switzerland, and possibly other countries that have the sense not to bury themselves with sovereign debt. Museums in some American cities charge higher admission prices for out-of-town visitors, so tourists effectively subsidize attractions that are available to locals. This tiered pricing structure would work wonders for the financial security of cultural attractions in a hyperinflationary environment.
Of course, I could very well be wrong about prospects for serious inflation in the U.S. The Fed hawks may prevail in the face of macroeconomic deterioration long enough for equities to find their true equilibrium (hint: much lower) without monetary stimulus. The federal government may elect not to restrict Americans' investment choices. Panicky policymakers may not force banks to lend newly minted dollars to consumers, forcing a wage-price spiral. Then again, if even one of these preconditions fails, the U.S. can and will experience serious inflation that will render fixed income investments undesirable. That is reason enough for non-profits to consider diversification into hard assets and non-dollar currencies.
Monday, December 27, 2010
The Haiku of Finance for 12/27/10
I fight corruption
Those who defraud and deceive
Shall be defeated
Those who defraud and deceive
Shall be defeated
Friday, April 30, 2010
Wounded Warriors Polo Benefit 2010
I don't normally plug charitable causes on my business blog, but I'll make an exception for this one. I strongly encourage my readers in Northern California to attend the Wounded Warriors Polo Benefit 2010 in Santa Rosa on June 20.
This event will raise money for the rehabilitation of American servicemembers who have been wounded in the nation's recent wars. In addition to a live polo match, there will be a silent auction, a champagne divot stomp, some Argentinian BBQ, and loads of fun for rich and poor alike. I will be there to support the cause and provide personal demonstrations of my amazing wit and enormous intellect. I have also discovered from past experience that numerous attractive women from the Junior League and other social sets attend polo matches at this particular club. Ladies, prepare yourselves for the mind-bending awesomeness that is Alfidi Capital's CEO.
This event will raise money for the rehabilitation of American servicemembers who have been wounded in the nation's recent wars. In addition to a live polo match, there will be a silent auction, a champagne divot stomp, some Argentinian BBQ, and loads of fun for rich and poor alike. I will be there to support the cause and provide personal demonstrations of my amazing wit and enormous intellect. I have also discovered from past experience that numerous attractive women from the Junior League and other social sets attend polo matches at this particular club. Ladies, prepare yourselves for the mind-bending awesomeness that is Alfidi Capital's CEO.
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