December 2024 - Exponent Philanthropy

December 2024 Resources

What are the key components of effective foundation administration?

   /  

Effective administration requires aligning tasks with the foundation’s mission and ensuring efficient operations. Key components include:  Clear Roles and Responsibilities: Assign tasks in areas like governance, grantmaking, and financial management to specific individuals or teams.  Strong Record-Keeping Systems: Maintain accurate records for grants, expenses, and board decisions to ensure compliance and transparency.  Thoughtful Use of... Read More

How can a foundation board foster better dynamics and engagement among its members?

   /  

To create healthy board dynamics and maintain engagement, foundations should: Encourage Diverse Perspectives: Promote open dialogue and embrace differing viewpoints. Address Disruptive Behaviors: Use clear communication and establish a statement of culture. Hold Regular Retreats: Focus on strategic planning and relationship building. Engage Members Actively: Assign meaningful roles, organize site visits, and invite external speakers... Read More

What are the most common challenges in completing Form 990-PF?

   /  

Completing Form 990-PF is a demanding process, and private foundations often encounter two significant challenges: time commitment and complexity. Time Commitment: The IRS estimates that it takes over 200 hours to fully prepare and file Form 990-PF. This includes learning relevant laws (60 hours) and recordkeeping tasks (140 hours). For smaller foundations with limited staff,... Read More