As the board’s chief volunteer officer, the chair is responsible for leading the board and ensuring it fulfills its governance role effectively. The position requires deep commitment to the foundation, strong leadership skills, and personal integrity. To succeed, a chair must earn and maintain the respect of fellow trustees through fairness, preparation, and follow-through. An... Read More
Including clear procedures for monitoring, evaluating, and changing your investment advisors in your investment policy statement (IPS) is essential to fulfilling fiduciary responsibilities. Investment advisors can include external consultants, an outsourced chief investment officer (OCIO), and/or investment managers, each playing a crucial role in supporting the foundation’s financial goals. Establishing Accountability and Best Practices To... 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