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
Board policies work alongside a foundation’s bylaws or trust document to shape its structure. While bylaws or trust documents are legally binding and grounded in state law, policies are also binding but easier to amend. Written policies help the board meet legal duties and set clear expectations for members and staff. The number and type... 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
From a tax law perspective, a private foundation may pay “reasonable and necessary” administrative expenses. These also count toward its annual distribution requirement, without subjecting the foundation or its managers to a penalty tax. Administrative expenses must be (a) related to the accomplishment of the foundation’s charitable purposes, (b) related to its investments, or (c)... Read More
Whether your foundation is new or well established, here are some ways you can let the public know you give grants: Distribute your mission and guidelines on your website and at local nonprofit events. Talk with other foundations that have similar program interests. They can sometimes refer grantees to you. Ask if your regional association... Read More