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
Your organization’s spending policy should be carefully selected after the thorough evaluation of several key inputs. A qualitative review of the type of organization, time horizon, beneficiaries, purpose of the endowment, sources of funding, institutional resources, applicable donor restrictions, and the investment policy statement should lead to a quantitative analysis that addresses: Annual operating expenses... Read More
Yes! See our Sample Document: Term Limits and Rotation Policies » Read More