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
Foundations vary in how much information they give in a declination letter, but the majority keep the letter very general. Here is a sample from The Trustee Handbook: The XYZ Foundation 123 Main Street Anytown, MO 11223 Dear Mr. Thomas, The XYZ Foundation appreciated the opportunity to consider your proposal to fund the Clear River... Read More
Our Trustee Handbook lists characteristics of effective foundation boards, which you might find helpful: The board has a well-defined board governance system with rules and processes that allow it to function efficiently and effectively. Board members are fully acquainted with the purposes, goals, history, and potential of the foundation they govern. Board members are united... Read More
We posted this question in our online Member Discussion Community, where members are always welcome to ask questions, share successes, and respond to fellow members. Here are the responses: Response 1 We provide scholarships to high school students and struggle with the same issue. Our approaches have evolved over the years. Eligibility for our scholarship... Read More
Yes, but there are special requirements for both the grantor and grantee foundation. The following is from our publication Legal Essentials for Private Foundations: “Your foundation may wish to make grants to another private foundation or an organization controlled by your foundation for a charitable purpose. Such a grant will count as a qualifying distribution... Read More