Foundations face a number of possible investment expenses whose range is considerable. Be sure to ask questions of your investment managers or your consultant, and don’t accept fuzzy answers. Make reviewing these fees a regular leadership activity. A snapshot of typical fees Custodial fees—These fees are paid to an institution (e.g., bank) to hold your... Read More
The following checklist, designed for established foundations (not start-ups), offers recommended and legally required action items. We encourage you to make it your own. Governance Board meetings—Give notice, take care of business, hold elections, and set a meeting calendar (once per year at a minimum or more often, as appropriate). Meeting minutes—Take minutes and approve... Read More
In today’s litigious society, anyone—including your foundation and the individuals associated with it—may be the target of a lawsuit. Although state and federal laws may provide some protection for your board members and volunteers, this immunity will extend to your organization in only a few states. These laws often contain no protection for legal expenses,... Read More
For most foundations, the daily mail brings the usual requests for money and reports on how our money has been spent—and also a steady stream of publications, reports, books, and even videos that are relevant to their program areas. We fund many organizations with limited financial resources and small staffs. Over the years, we’ve learned... Read More
“Too often as funders, we force our grantees to embark on new projects because that’s what we’re willing to fund,” says Exponent Philanthropy member Judy Peckham of the Conrad and Virginia Klee Foundation in Binghamton, NY. “Yet, organizations with good core programs often desperately need funds for administrative costs to keep those programs strong. If... Read More
When should a foundation rescind a grant? How is the rescission accomplished? The obvious answer to the first question is that a funder should rescind a grant when the grantee fails to use the grant funds for the purposes for which the grant was made. Most commonly, such failure is because the grantee’s need for... Read More