At its core, CEO evaluation involves two basic steps: defining the CEO’s job responsibilities and checking back at a later point to determine if the responsibilities were met. Keep in mind: Although formal evaluation is an important component of a good working relationship, it is not a substitute for ongoing communication. CEOs need feedback year... Read More
There is little legal advice specific to recordkeeping after a foundation closes. According to best practice, however, financial and tax records should be kept for a minimum of 7 years after their filing dates. Other business records, such as pension plans and D&O liability insurance contracts, should be kept for a minimum of 10 years.... Read More
Documenting and sharing your story can guide those who lead the foundation now and in the future, articulate your goals to potential grantees and the public at large, and inspire all those who are touched by the foundation’s good work. How are Exponent Philanthropy members telling their stories? Keep it simple For Jane Leighty Justis,... Read More
Salary and Benefits Surveys Customized for You Project scope: Exponent Philanthropy creates and collects custom survey elements across a region or another variable to meet your specific needs. We analyze the data (which we can also compare to other appropriate salary and benefits benchmarking reports you provide) to develop a detailed report. Member cost: $5,000... 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
Generally, a worker may be classified as an independent contractor if the employer has the right to control or direct the result of the work but not the means or methods of accomplishing the result. The Internal Revenue Service (IRS) uses a 20-factor test to determine whether a worker is an employee or an independent... Read More