From a tax law perspective, a private foundation may pay “reasonable and necessary” administrative expenses—and count them toward its annual distribution requirement—without subjecting the foundation or its managers to a penalty tax. These expenses must be (a) related to the accomplishment of the foundation’s charitable purposes, (b) related to its investments, or (c) payments of... Read More
Taking time to reflect on the following questions can help ensure your foundation manages staff legally and ethically, while fostering a supportive work environment that advances your mission. Advisors and Resources Who on the board is responsible for monitoring HR, and are they familiar with employment practices? Does a board member have a relationship with... Read More
Private foundations play an important role in communities across the country—filling the shelves of food pantries, employing directors of youth centers, advocating for human rights, and much more. Opportunities abound for you to make a difference through private foundation giving. How do you determine if a private foundation is right for you? Know the field... Read More
Exponent Philanthropy members often ask about mission, vision, and values statements: What are they? Does my foundation need them? How do we create them? Maridel Moulton, an organizational development consultant, presented the following information at an Exponent Philanthropy educational program. What is a mission statement? In one or two sentences, a mission statement clarifies what... Read More
A mission statement is a short, written declaration about why you are engaging in philanthropy or, if your giving structure is a foundation, why the foundation exists. Mission statements are powerful because they are heartfelt, simple, and easily communicated. A mission can help you: Make the best use of your resources by focusing grants and... Read More
Nonprofit sector collectively describes the institutions and organizations in American society that are neither government nor business. Nonprofit is a layperson’s term describing a range of organizations—including private foundations—that contribute to the public good. The nonprofit sector in the United States contains more than 1.5 million nonprofit organizations comprising at least 7% of the U.S.... Read More