Trustees have many responsibilities, and it’s important to be vigilant in the areas in which trustees trip up most. Here are five ways to keep your trustees on the right track. Develop a cohesive and compelling purpose Foundations with a clear mission statement can minimize the conflicts that arise when trustees’ personal agendas dominate. Work... Read More
With all the attention given to the excise tax rules (e.g., sections 4940–4946 of the Internal Revenue Code [IRC]), the directors or trustees of private foundations (i.e., “managers”) may be inclined to overlook their fiduciary duties under state or common law. This complacency can be compounded by the fact that many private foundations are governed... Read More
All foundations rely on trustees for leadership, oversight, and planning. Many small foundations also rely on trustees for a considerable amount of the labor needed to run a foundation. To acknowledge the crucial role that trustees play in governance and operations, some foundations compensate for routine board service, such as attending meetings, reviewing proposals, and... Read More
Within hours of the September 11 World Trade Center terrorist attack, my voicemail and email were overloaded with requests for services from corporations, mental health agencies, and schools. All were looking for assistance in how to help adult survivors cope with the sudden traumatic death of their loved ones and support the grieving children and... Read More
Private foundation trustees and staff oversee countless activities, from setting direction and selecting grantees to reviewing policies and investing assets. Several foundation tasks—some mandatory, some voluntary—call for additional care. All are worth your careful consideration to help you be financially savvy and legally compliant, and to help you take full advantage of your foundation’s flexibility.... Read More
Find advice and inspiration on a single theme written by fellow members, trusted colleagues, and our expert staff. This exclusive member benefit can help focus your giving and spark conversations with other lean funders. Essentials: Greatest Hits This issue of Essentials covers important and enlightening topics—material you will return to repeatedly. In this, the capstone... Read More