From masterful communicators to continual learners, phenomenal foundation executive directors share a number of characteristics and skills. Masterful communicators It’s taken me time to feel comfortable communicating from my heart. For many years, I thought of that as less than professional, but I’m learning that part of being an effective communicator is to deliver authentic... Read More
When crafting an investment policy statement (IPS), trustees, directors, and other decision makers should consider future fiduciary audits and thus keep compliance and accountability in mind. As an institutional investment consultant, my clients often ask for my assistance when confronted with a fiduciary audit. I use the following audit tests. Investment horizon An investment horizon... Read More
Regular performance evaluations—at least once a year—can help staff improve their work. The board evaluates the foundation’s lead staff person (i.e., executive director, foundation administrator, CEO). In turn, the lead staff person evaluates other staff members and consultants (as applicable). In some cases, staff members evaluate themselves and then compare their assessments with their supervisor.... 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
At The Triple EEE Foundation, we have used scrutiny of our investment managers and unique investment ideas to weather the recent economic storms and further our mission. Although our family foundation was created in 1993, I became very interested in foundation investing in 2000. That year, at an Exponent Philanthropy conference in Chicago, one of... Read More
A foundation executive director, I am sharing four lessons about how to evaluate outcomes more effectively. The points that follow are not complex ideas. To many, they probably seem obvious. As is often the case for me, the mere act of recording them provided me with new insights. Find the right approach for your work... Read More