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
Foundation board members are expected to: Set and adjust the direction for the foundation: its mission and goals. Establish principles, policies, and procedures that govern the foundation’s operation and advance its mission. Oversee the foundation to ensure that it operates effectively and efficiently in support of the mission, and that it complies with legal rules.... Read More
Yes, your Exponent Philanthropy membership dues can count as a qualifying distribution for your foundation. They are considered an administrative expense that supports your foundation’s charitable work. We recommend treating the dues as an administrative expense rather than a grant. When a foundation makes a grant, it cannot receive any benefits in return. If you... Read More
Terms To Know Assets represent what the nonprofit owns. Current assets are the sum of all assets that the nonprofit could convert to cash in less than one year. This includes cash and cash equivalents or accounts receivable. Long-term assets are the sum of all other assets, such as property, long-term certificates of deposit, or... Read More