Healthy foundation boards do all of the following to reinvigorate themselves—each step feeding into the others: Identify—Determine what your board needs (e.g., skills, knowledge, perspective, connections; diversity of age, gender, ethnicity, or other demographic factors) and those sources that can direct you to potential trustees possessing the characteristics your board is seeking. Cultivate—Build an inclusive... Read More
A website can be a powerful tool for foundations, offering benefits that go beyond a simple online presence. From increasing visibility to enhancing transparency, a well-designed site helps foundations connect with grantees, streamline operations, and highlight the work they’re supporting. Here are five key reasons why every foundation can benefit from having a website. 5... Read More
Classifying staff Your foundation must classify every person who receives compensation as an employee or a contractor. The IRS has guidelines (in publication 15-A) to help you classify your new employee. If determined to be a contractor, the employer does not collect or pay any employment taxes. It’s important to understand that the foundation is... Read More
Consider these compelling reasons for choosing a focus or two: A focus directs your time and allows you to develop expertise. Boards and staff have limited time; use it wisely by focusing their efforts. A focus allows your key players to know the issues and grantees more intimately and to strategically apply their knowledge, reputations, and... Read More
According to the most recent Foundation Operations and Management Survey, the vast majority (97%) of participating foundations provided benefits for full-time staff. In addition, about three-quarters (73%) of foundations provided some benefits to part-time staff working 20 to 29 hours per week. Furthermore, more than half (58%) provided some benefits to part-time staff working 1... Read More
Exponent Philanthropy recommends all foundations create a clear travel and expense reimbursement policy that achieves the following: Advises trustees and staff to choose cost-effective travel options. The law requires that these expenses not be “lavish or extravagant.” Describes the activities for which related travel may be reimbursed and any limits on quantity of travel per... Read More