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
Grants Management Initial Questions The first step toward determining if your foundation will benefit from a grants management system requires discussing your priorities and parameters: What does your foundation want to track? Exponent Philanthropy members tend to track some or all of the following: Contact information for grant applicants and recipients (organizational and individual) Basic... Read More
Understanding Board Policies Board policies complement a foundation’s bylaws or trust documents by shaping its structure and operations. Bylaws and Trust Documents: These are legally binding and rooted in state law. Policies: While also binding, they are easier to amend and provide flexibility for governance. Written policies help boards fulfill legal duties and establish clear... Read More
Keeping organized records throughout the year is essential to crafting an informative and impactful annual report with ease. Here are some practical tips to streamline the process: Create a Dedicated Folder Early. At the start of each year, set up a physical or digital folder specifically for materials you’ll want to reference. Include lists of... Read More