For incorporated foundations, different states have different legal requirements for: Notice—States regulate how much notice needs to be given of meetings, and in what format. Typically this information is included in the bylaws. Be sure your foundation gives sufficient notice to ensure that decisions made by the board at that meeting cannot be challenged. Quorum—A... Read More
We encourage Exponent Philanthropy members to consider TriNet, a new partner that offers HR solutions (including health insurance) for small organizations. Members save 20% or more on all TriNet’s services, which include payroll, risk and compliance, insurance, health care savings accounts, and flexible spending accounts. Read more about the TriNet member benefit >> Read More
Quoting the article Serving as a Fiscal Sponsor by the law firm Arnold & Porter: In a fiscal sponsorship, a 501(c)(3) public charity or private foundation receives tax-deductible contributions on behalf of a group or organization that is not recognized by the IRS as tax-exempt under section 501(c)(3). Some projects use fiscal sponsors while their... Read More
Here are some great resources from our online library to get you started: Understanding Nonprofit Financials Red Flags in Nonprofit Financials How to Read Potential Grantees’ Financial Statements What Makes an Effective Nonprofit Streamlining Your Financial Due Diligence Read More
Although it may seem counterintuitive, a family business renting space to the family’s private foundation, even at below market rates, is considered an act of self-dealing, unless the space is leased to the foundation for free. Self-dealing involves a complicated set of rules to prevent most transactions between private foundations and their insiders, known as... Read More
Yes. Founder biographies are often written to inspire other donors to get involved in a community or cause, philanthropically or otherwise. The biography should be seen as an opportunity to educate the public about the founder’s philanthropy, focusing on the individual’s service to a community or cause. Its focus can extend beyond foundation activities—for example,... Read More