Generally, a worker may be classified as an independent contractor if the employer has the right to control or direct the result of the work but not the means or methods of accomplishing the result. The Internal Revenue Service (IRS) uses a 20-factor test to determine whether a worker is an employee or an independent... Read More
Individual or one-off transactions—Small-staffed foundations can make investments sporadically as opportunities arise that align with their goals. This approach allows a foundation to be flexible; however, it may reveal capacity constraints because since staffing and structures are not designed to support frequent impact investing. PRI approach—Some private foundations make only below-market rate investments that count... Read More
A few simple policies and processes can help trustees to make consistent, unbiased, and thoughtful decisions, including: Conflict of interest policy to minimize the potential for bias and unethical decision making Internal financial controls (and perhaps a whistle-blower policy) to ensure proper financial oversight An investment policy statement to help trustees uphold their fiduciary duties... Read More
Agendas can be detailed or broad brushstrokes, but they always help organize the flow of the meeting and keep the meeting on time and everyone on target. A good agenda also contributes to the discussion itself, keeping the topics coherent and interesting. An agenda can clarify when the board is being asked to advise and when... Read More
Yes. Use this sample document to record your observations during a site visit>> Read More
Preparing your next generation to participate in a foundation goes beyond understanding the financial responsibilities of foundation giving. Hear the following recommendations from a foundation trustee—based on his personal experience—about preparing the next generation for board service. Keep reading how a foundation can prepare its next generation>> Read More