In addition to paying careful attention to how your foundation is governed, it’s also important to think about how your nonprofit grantees are governed. Here’s a checklist to consider when evaluating a potential grantee. How is the nonprofit’s financial health? Does the grantee have at least one financial expert on its board? If not, does... Read More
Any private foundation can make scholarship grants directly to individuals if it receives advance approval from the Internal Revenue Service; the foundation can file. the Schedule H form to request this approval. If the recipient is chosen by an independent entity (e.g., college or community foundation), advance approval is not needed. George and Mary Josephine... Read More
For foundations, supporting start-ups comes with challenges, including taking risks on unproven ideas and helping to build organizations from the ground up. Your small foundation colleagues who fund start-ups, though, say that this extra commitment is anything but a negative. It can be incredibly rewarding—both personally and professionally. Take The Lynch Foundation in Boston. Founded... Read More
What do you want to achieve with your foundation? Many foundations focus on a particular field of interest, population, or geography. Others focus by strategy (e.g., building technology capacity, developing nonprofit leaders) and bolster a range of grantees by applying those strategies. Settling on a focus is not necessarily an easy step—especially if your foundation... Read More
In Exponent Philanthropy’s work helping small-staffed foundations and donors step into leadership roles, we have learned that the most dynamic, effective funders use their power judiciously—but boldly. In a paradoxical way, the source of their power is passion, curiosity, and humility. They are great listeners. They don’t begin by thinking they know the answers; they... Read More
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