Meeting Frequency
Most states require foundation boards to meet at least once a year, though some may mandate more frequent meetings. Check your state’s requirements and schedule additional meetings as needed to effectively oversee your foundation’s work.
Other Key Meeting Requirements
- Notice: States set rules for how much advance notice to give and in what format (e.g., email, mail). This is typically outlined in your foundation’s bylaws. Proper notice ensures board decisions can’t be legally challenged later.
- Quorum: A quorum is the minimum number of board members required to hold a meeting. This is usually defined in your bylaws and may also be regulated by state law. Certain decisions, like amending bylaws, may require a higher quorum.
- Voting: Can board members participate remotely by phone or video? Does that count toward a quorum? Can votes be submitted by email? State laws provide minimum standards, but your foundation’s bylaws can establish stricter rules if desired.
Disclaimer: While we pride ourselves on our advice, please realize Exponent Philanthropy is not a law or accounting firm. This information contained in this Q&A is being provided for informational purposes only and not as part of an attorney-client relationship. The information is not a substitute for expert legal, tax or other professional advice tailored to your specific circumstances, and may not be relied upon for the purposes of avoiding any penalties that may be imposed under the Internal Revenue Code. It is our advice that you seek independent counsel, for any tax, accounting or legal issues you may have, related to matters that are of a material concern to you or your organization.
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