Q&A Archive

I’m looking for guidance on preparing a foundation’s financial statements, and any templates.

November 27, 2018 Kim Adkinson /

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

Where can we learn more about reviewing grant proposals?

November 12, 2018 Kim Adkinson /

Our publication Basics of Proposal Review is a great starting point, designed to help you assess whether a proposal offers a good funding opportunity and provide tools for making your review efficient and effective. The article Proposal Review focuses on preparing for the review and prescreening proposals, and includes more than a dozen sample forms and... Read More

Please settle a disagreement about whether we must have a grantee’s IRS determination letter on file.

November 12, 2018 Kim Adkinson /

We’re happy to! This is a pervasive myth, not a legal requirement. A photocopy of the IRS determination letter only tells you that the organization was, at some point, granted a specific tax-exempt status, not that this status is current. As recommended by our colleagues at Project Streamline: The best practice, if you have doubts... Read More

Does Exponent Philanthropy have sample language for travel reimbursement policies?

October 30, 2018 Kim Adkinson /

We do! Private foundations are permitted to pay for or reimburse ordinary and necessary expenses incurred in carrying out their activities, including the costs of travel by trustees. Your board can state its reimbursement policy clearly and in writing, and include the following: Require that travel on behalf of the foundation be undertaken in a cost-effective... Read More

Should we hire a new staff person as a contractor or an employee?

October 30, 2018 Kim Adkinson /

The following excerpt is from our publication Hiring Great Staff: According to IRS regulations, every person who receives compensation must be classified as an independent contractor or employee. The classification depends on specific factors outlined by the IRS. For example, the IRS considers workers to be independent contractors if the company does not manage how... Read More

Do you have resources on funder collaboration? We want to consider it.

October 30, 2018 Kim Adkinson /

Funder Collaboration: It’s Not Always What You Think is a great place to start, dispelling common myths about funder collaboration. You’ll also find funder stories and advice in these articles: Funder Collaboratives: A Guide to Successful Partnerships Collaborating With Other Funders Supporting and Engaging in Networks We also encourage you to join our November 13... Read More

Q&A Archive

I’m looking for guidance on preparing a foundation’s financial statements, and any templates.

Where can we learn more about reviewing grant proposals?

Please settle a disagreement about whether we must have a grantee’s IRS determination letter on file.

Does Exponent Philanthropy have sample language for travel reimbursement policies?

Should we hire a new staff person as a contractor or an employee?

Do you have resources on funder collaboration? We want to consider it.

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