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  In the beginning Divvy Homes emerged out of Max Levchin’s HVF (Hard Valuable Fun) startup studio with a simple idea of helping renters become owners by buying their home first and then renting it back to the resident through a rent-to-own model while they build a down payment. Max Levchin is a Ukrainian-born American computer scientist and entrepreneur, best known as one of the co-founders of PayPal, where he served as CTO. He was part of the “PayPal Mafia” who is a group of early PayPal executives and employees who went on to found or fund major tech companies such as Tesla, LinkedIn, Yelp, and YouTube. Divvy Homes was co-founded by Adena Hefets (Co-Founder & CEO of Divvy), Nick Clark (Co-Founder), and Alex Klarfeld (Co-Founder).  HVF, Max Levchin’s startup studio funded Divvy Homes as one of their portfolio projects. Originally launched in 2016, the Organization began in markets like Cleveland, Memphis, and Atlanta to test out it portfolio project. Customers or “Resid...

  Managing endowment funds prudently is both a legal responsibility and a cornerstone of long-term sustainability for nonprofit organizations. The Uniform Prudent Management of Institutional Funds Act (UPMIFA) provides clear guidance for charitable institutions on the investment and spending of endowment funds. As stewards of donor intent and fiduciary responsibility, nonprofit boards must implement well-documented, board-reviewed endowment spending policies that reflect UPMIFA’s principles of prudence, purpose, and preservation. Here’s how nonprofit leaders can align their policies and practices with UPMIFA requirements: 1. Establish a Written Endowment Spending Policy UPMIFA requires organizations to spend from endowment funds in a manner that is prudent, taking into account the duration and preservation of the fund. A written policy is essential to: Codify spending rates (typically a percentage of a trailing average of market value). Define how and when the fund’s principal may ...

  As financial reporting scrutiny continues to grow, implementing an effective SOX compliance program is more than a regulatory requirement, it’s a signal of operational integrity and investor confidence. Listed below are the are ten (10) definitive best practice roles to consider to strengthen internal controls over financial reporting (Section 404) and remain SOX compliant for this year's audit season: 1. Establish a SOX Compliance Governance Framework Assign ownership : Designate a SOX compliance officer or internal control manager. Build a cross-functional team : Include Finance, IT, HR, and Legal for comprehensive oversight. Define roles and responsibilities : Especially for Section 302 (management certification) and 404 (internal control over financial reporting). 2. Identify Key Financial Processes & Controls (Section 404) Document all financial processes : Such as revenue recognition, purchasing, payroll, and financial reporting. Perform risk assessment : Focus on areas...