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
Your investment policy statement (IPS) should have clear procedures for monitoring, evaluating and changing your investment advisors. It’s a key part of fiduciary responsibility. Investment advisors include outside investment consultants, an outsourced chief investment officer (OCIO), and/or investment managers. Any contracts regarding investment services should clearly define the roles and responsibilities of all parties (i.e.,... Read More
From a tax law perspective, a private foundation may pay “reasonable and necessary” administrative expenses—and count them toward its annual distribution requirement—without subjecting the foundation or its managers to a penalty tax. These expenses must be (a) related to the accomplishment of the foundation’s charitable purposes, (b) related to its investments, or (c) payments of... Read More
Our community’s Annual Conference is designed specifically for and by lean funders—those who give with few or no staff. We are a genuine community that supports and inspires each other even through difficult times. Exponent Philanthropy is where you can let your guard down and talk about the challenges and issues affecting the communities and... Read More
Here are several ways to prepare children and teens for foundation giving: Invite them to board meetings Make younger family members feel like part of the group by inviting them to see how the foundation works. Keep in mind that board meetings can be tedious for some kids, especially younger ones. They don’t necessarily have... Read More
A comprehensive investment policy statement is vital to your foundation sustaining its organizational purpose and achieving its giving goals. The benefits of a well-crafted investment policy statement Strive for an investment policy statement that does more than just checking the box. A valuable IPS goes beyond establishing basic investment guidelines. It delivers other important benefits... Read More