Succession tops the list of what keeps foundations up at night, yet many are reluctant to tackle the issue. Addressing succession early on has a number of benefits: It’s important to pass organizational strengths to future leaders while senior board members are still active. Disputes over mission, the pressure of geographic dispersal, uneven competencies and... Read More
Small-staffed funders draw on many assets besides money to advance issues in the policy arena: Human assets. Consider the creativity, passion and resourcefulness of founders, trustees, family and staff. Freedom to focus on an issue and persevere over the long term. Philanthropists have the freedom to “go deep” on an issue and commit. Most problems... Read More
When handling money, the following practices work for many foundations: Opening a single foundation bank account. Foundations that make grants only one to two times per year or those with minimal operating expenses simplify recordkeeping by making most transactions from one account. Some also use a money market account. Keeping up with cash flow needs.... Read More
Consider the following questions when hiring investment managers directly: What is the manager’s investment philosophy? Does the manager try to help you understand the philosophy, or just use terms meant to put off your questions? Does the manager pick securities from a preapproved list? If so, what is the justification or strategy for doing so?... Read More
As the chief volunteer officer, your board chair is responsible for leading the board. This position demands exceptional commitment to the foundation, first-rate leadership qualities, and personal integrity. To meet the challenges of this position, the chair must earn and maintain the respect of fellow trustees. An effective board chair is: Knowledgeable about the foundation... Read More
See our Sample Document Employee Personal Planning and Goal Setting >> Read More