Whistleblower or antifraud policy regulations now apply to foundations and nonprofits by virtue of the Sarbanes–Oxley Act of 2002. Although the act does not specifically require nonprofits (including private foundations) to develop a written internal policy or procedure, board members and employees must be sure to follow the new law. The new law states there... Read More
Board committees and advisory committees are common structures that boards establish to better manage the foundation. Board committees comprise board members and can make certain decisions on behalf of the full board. Advisory committees often include non-board members, although at least one board member should be involved too. Advisory committees exist to provide recommendations; they... Read More
A records retention policy is a simple written document—one or two pages—that summarizes your procedures for storing, organizing, purging, archiving, and protecting foundation documents and fulfilling public reporting requirements. A records retention policy typically includes the following information: What documents you store and how long you store them Where you store different types of documents:... Read More
At meetings, your board does the bulk of its work for your foundation, so it’s important to make every meeting count. Your board may be fulfilling its mission and managing its responsibilities, but if board meetings start and finish late, if trustees aren’t prepared, or if there never seems to be enough time to get... Read More
Personnel policies address a variety of federal laws and executive orders on how employers must select, compensate, and treat individuals in the workplace. Even if your foundation has only one staff member, you still should have a personnel policy in place, even a simple one. Most policies include items related to hiring practices and, if... Read More
A records retention policy, also known as a document retention and destruction policy, assists your foundation in following the federal laws that impose criminal liability on any organization that destroys records with the intent to obstruct a federal investigation. Foundations should be sure their policy follows state guidelines on how long paper and electronic records... Read More