Private foundations, or PFs, occasionally consider making investments in vehicles in which one or more of their disqualified persons, or DPs (e.g., officers, directors, substantial contributors) also have invested or also are considering an investment. A handful of IRS private letter rulings address the issue of co-investment and self-dealing, allowing us to extract the key... Read More
An Exponent Philanthropy member who serves as foundation trustee and treasurer, as well as a private banker and financial advisor, wrote this advice on transforming foundation bookkeeping. You may also appreciate the tips in the article Form 990-PF: Preparing to File and in these publications: Keeping Good Records: Small Foundations’ Guide to Staying Organized Filing... Read More
Voting by email may be appealing for its simplicity and speed, but many warn that it can be a trap for nonprofit board members. In many states, a board is required to take action at a meeting (in-person or by phone or videoconference), or by unanimous written consent. Some apply mail voting rules (unanimous consent)... Read More
Site visits are one of the best ways to make grant decisions because, in essence, site visits are a living, breathing grant proposal. These visits give you the chance to connect with the organization’s board and staff, discover things that can’t be learned from a written proposal, and clarify information that is important to your... Read More
There is no one right way to settle on a focus, and many foundations use a combination of the methods. Here are 7 ways to find your focus, courtesy of Exponent Philanthropy members. Our online resources include many other articles and publications on the topic of focused giving. It’s important to recognize that settling on... Read More
Absolutely! Conflicts of interest are common in the course of running a foundation, given that board members and staff tend to be connected with many others in their communities on a personal and professional basis. Conflicts of interest can be easily managed with a conflict of interest policy. Find sample conflict of interest policies and... Read More