There are many reasons why foundations set up a website. A website can be used to: Communicate your mission and guidelines to potential grantees quickly, widely, and cheaply. Outline your grantmaking process and time line. Make your grant application and reporting forms available to grantees to download or with an online grant application process. Highlight... Read More
A start-up is, simply put, an organization that is relatively new. Typical characteristics of a start-up include a strong commitment to the organization’s mission and to delivering services, a vision driven by the organization’s founder, an informal management infrastructure, a small and homogenous board with many members often performing day-to-day tasks for the organization, and... Read More
You can find red flags in a nonprofit’s Form 990 or in its financial statements, as well as in conversation—and many do not require technical knowledge. ShoreBank, a community development bank serving Chicago, Cleveland, and Detroit, provides the following list of red flags. Red flags in financial statements Decrease in annual revenue Decrease in net... Read More
An investment policy statement (IPS) should be the starting point and bedrock of an institution’s investment strategy. It constitutes a road map of how the institution plans to achieve and support its stated mission through its investment strategy. Including applicable IPS components Here is a list of common IPS components. Include only those items that... Read More
Foundations interested in getting rid of all (or some) of their file cabinets and much of the paper that fills them have many options. There are some simple ways to cut back on paper—and many benefits. It’s not all or nothing, of course. Some offices aim to go completely paperless by receiving and distributing information... Read More
Great board meetings are achievable. Following a few legal requirements plus tried-and-true strategies can create an environment and a process for efficient, enjoyable foundation board meetings. Legal requirements For incorporated foundations, different states have different legal requirements for: Notice—States regulate how much notice needs to be given of meetings, and in what format. Typically this... Read More