Exponent Philanthropy members often ask about mission, vision, and values statements: What are they? Does my foundation need them? How do we create them? Maridel Moulton, an organizational development consultant, presented the following information at an Exponent Philanthropy educational program. What is a mission statement? In one or two sentences, a mission statement clarifies what... Read More
Trustees have many responsibilities, and it’s important to be vigilant in the areas in which trustees trip up most. Here are five ways to keep your trustees on the right track. Develop a cohesive and compelling purpose Foundations with a clear mission statement can minimize the conflicts that arise when trustees’ personal agendas dominate. Work... Read More
Bylaws are a must for any foundation. They specify the operations and rules of conduct for a foundation—how it will run and be managed. Every foundation that is formed as a corporation must have bylaws among its governing documents. Each state has its own specifications for content of the bylaws, and your foundation’s bylaws must... Read More
Private foundations play an important role in communities across the country—filling the shelves of food pantries, employing directors of youth centers, advocating for human rights, and much more. Opportunities abound for you to make a difference through private foundation giving. How do you determine if a private foundation is right for you? Know the field... Read More
Whether a foundation is formed as a corporation or a trust, it must comply with its governing documents, which are legally binding. If your foundation is a corporation, its governing documents are its articles of incorporation—referred to by some states as articles of organization or certificate of incorporation—filed with the state’s secretary of state (or... Read More
The following checklist, designed for established foundations (not start-ups), offers recommended and legally required action items. We encourage you to make it your own. Governance Board meetings—Give notice, take care of business, hold elections, and set a meeting calendar (once per year at a minimum or more often, as appropriate). Meeting minutes—Take minutes and approve... Read More