Exponent Philanthropy members tell us multiyear grants offer important benefits: Less grantee time and labor to apply and report on grants Less funder time and labor to review applications and reports Greater security for grantees that allows them to look ahead to longer-term goals and plan accordingly A powerful seal of approval that helps grantees... Read More
There is little legal advice specific to recordkeeping after a foundation closes. According to best practice, however, financial and tax records should be kept for a minimum of 7 years after their filing dates. Other business records, such as pension plans and D&O liability insurance contracts, should be kept for a minimum of 10 years.... 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
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
At its core, CEO evaluation involves two basic steps: defining the CEO’s job responsibilities and checking back at a later point to determine if the responsibilities were met. Keep in mind: Although formal evaluation is an important component of a good working relationship, it is not a substitute for ongoing communication. CEOs need feedback year... 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