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
By communicating openly, you can build good relationships with potential partners from the start—and quickly help others move on to other funders. “It’s important to remember that our success as grantmakers depends on our grantees’ success,” says Exponent Philanthropy member Christine Elbel of The Fleishhacker Foundation. “If we can improve our processes, we’re contributing to... Read More
Consultants can be found to help foundations with every aspect of foundation management, including legal counsel, fiscal oversight, grantmaking support, board development assistance, strategic planning facilitation, program evaluation, and even complete foundation management. When it comes to types of consultants, the variety is equally broad. From independent consultants to small consulting companies, to asset management... Read More
The primary purpose of financial statements is to communicate the financial health of the grantee. A non-accountant should be able to understand a well- written statement. The balance sheet, a statement of position, views a grantee on a specific date. The income statement, a statement of activity, looks at a year’s operating activity. The statement... 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
Most foundation files of any significance should be kept a minimum of 3 years. That can add up to a lot of paper! Here are filing and storage tips: Give some thought to and take time setting up your filing system. Ultimately, you’ll waste less time and save yourself a lot of space. A good... Read More