Some states require foundations to submit an “annual report” along with their Form 990-PF so that regulators can ensure foundations are fulfilling their charitable purpose. This is typically a template that must be completed, as determined by the state, and should not be confused with the voluntary annual reports created by many foundations. Well-written, voluntary... Read More
The most effective boards engage in a continual process of self-assessment, that is, an evaluation of their performance. The assessment focuses on how you function as a board, not how you operate as a foundation. For some, this may be familiar thinking; for others, a board assessment provides a framework to think about how the... Read More
An executive director of a small-staffed foundation juggles many roles: strategic grantmaker, convener, collaborator, and, at times, board wrangler, media spokesperson, technical assistance provider, mediator, and the list goes on. This article will get you thinking about what should be included in your foundation’s executive director job description and link you to several sample executive... Read More
It is becoming increasingly common for foundations to consider closing shop. Although the reasons you’re contemplating this option may be straightforward, the process of closing can be complicated. Download our publication Closing Shop: When Small Foundations Get Out of the Foundation Business to better understand the options and strategies for spending down effectively. You’ll find... Read More
Start with our publication Keeping Good Records: Small Foundations’ Guide to Staying Organized. It reviews the recommended documents to keep, and for how long, as well as other tips for archiving and organization. State law may influence how long certain documents should be kept, so you should check the requirements for your state as well.... Read More
Yes. Health insurance is commonly offered to foundation staff. Less common is for a foundation to offer it as a benefit to board members. Although it is legal to offer it to board members, the cost to the foundation must be shown as compensation to that board member and reported on Form 1099. For more... Read More