There are no restrictions on matching gift programs, although, to streamline the process, Exponent Philanthropy members typically choose to match gifts to public charities. Here are how several members structure their programs: We have a matching policy for our trustees and staff. It is budgeted as part of our grants budget. Our foundation matches up... Read More
Workers’ compensation insurance covers employees against any job-related accident or disease. This insurance pays for medical bills, disability income benefits, and death benefits to dependents of an employee whose death is job-related. Rates are based on payroll and depend heavily on the type of business and the type of work. You should update your workers’... Read More
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
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
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
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