No special steps are necessary if the donor advised fund (DAF) is housed at a 501(c)(3) organization, and the donation will count toward your foundation’s 5% distribution requirement. Read more about creating and donating to DAFs in our publication Strategic Uses of Donor Advised Funds. Read More
Although foundations have an additional year to meet the minimum distribution requirement, most foundations make the required payout in the year it is generated (by estimating their year-end assets). Foundations that wait to make their payout in the subsequent year can be caught off guard by precipitously declining assets. If it’s nearing year’s end and... Read More
Our sample documents library includes sample declination letters from fellow Exponent Philanthropy members, which you are encouraged to download and adapt for your needs. You may also find this foundation’s Guidelines for Saying No to be helpful. Although saying no is never easy, two foundation members share how the experience can be turned into something... Read More
There are no restrictions on matching gift programs, although, to streamline the process, Exponent Philanthropy members typically choose to match gifts to public charities. Here are how several members structure their programs: We have a matching policy for our trustees and staff. It is budgeted as part of our grants budget. Our foundation matches up... Read More
Workers’ compensation insurance covers employees against any job-related accident or disease. This insurance pays for medical bills, disability income benefits, and death benefits to dependents of an employee whose death is job-related. Rates are based on payroll and depend heavily on the type of business and the type of work. You should update your workers’... Read More
We encourage you to download our publication Financial Reporting for Private Foundations: A Uniform System. Foundation boards and their accountants often use different formats for financial statements. In response, a group of experienced foundation financial officers, CPAs, and attorneys developed this uniform financial reporting system as a model for any private foundation. The publication includes a... Read More