Building a Strong Foundation Board: A Guide A well-run foundation starts with a strong board, no matter its legal structure. As a board member, you shape policies, set expectations, and ensure good governance. This guide covers essential topics, including: Onboarding new members Understanding key legal responsibilities Differentiating between board and advisory committees Navigating leadership transitions... Read More
By Lauren Kotkin, Exponent Philanthropy Foundation trustees gathered last month for our daylong Foundations 101 Seminar, co-hosted by Southeastern Council of Foundations and led by colleague Mary Phillips of GMA Foundations, an Exponent Philanthropy Professional level Sustaining Partner, with support from U.S. Trust philanthropic advisor Mary Stokes and attorney Marc Lane. More than a few points stood out as... Read More
When my wife and I set up our family foundation in 2012, we engaged my three children (then in their late teens and early 20s) in deciding whether a foundation was something we wanted to do as a family. We pressed the kids long and hard, even handed out questionnaires, wanting it to be a... Read More
Most conversations on succession planning turn to how to bring on the next generation or whether to sunset the foundation. Eldon and Betts Mayer thought differently. They wondered if their community on an island in Maine would be willing to take on their family foundation. Three years later, the fund has an engaged board of... Read More
The idea of virtual board meetings has been around since conference calls first began. However, these often were only used as a last resort and gave way to board retreat weekends filled with activities, catered meals and a focus on community building. The goal of these activities is to help form strong relationships to help... Read More
Investments: Managing Foundation Assets for Greater Impact Imagine a foundation with $10 million in assets. To meet the 5% distribution requirement, it must allocate $500,000 annually. While foundations carefully manage their grant distributions, what happens to the remaining $9.5 million? This section explores how foundations manage investments, including oversight responsibilities and key fiduciary principles. Smart... Read More