“For those who have already begun to involve next generation family members,” says Sharna Goldseker, who works on multigenerational strategic philanthropy at the organization 21/64, “you probably have also experienced how the very act of involving the next generation changes the character of the foundation itself. The questions the next generation brings, language they use,... Read More
For small foundations and large foundations alike, conducting site visits often is an important step in deciding whether to fund a nonprofit. Being comfortable scheduling and conducting a site visit is an important skill. The following are steps you can take to maximize the site visit experience. Step 1 Establish a purpose. A site visit... Read More
Kylie, age 9, writes: Last year was such a great year. The board approved my grant request for Project HELP, and I presented a session called “Youth on Board” at the Exponent Philanthropy National Conference. I was the youngest person to present at the conference. I got to answer questions and even get interviewed afterward.... Read More
Preparing your next generation to participate in a foundation goes beyond understanding the financial responsibilities of foundation giving. Hear the following recommendations from a foundation trustee—based on his personal experience—about preparing the next generation for board service. Several years ago, my family divided our family foundation, The Jules and Doris Stein Foundation, into four equal... Read More
Here are several ways to prepare children and teens for foundation giving. Invite them to board meetings Make younger family members feel like part of the group by inviting them to see how the foundation works. Keep in mind that board meetings can be tedious for some kids, especially younger ones. They don’t necessarily have... Read More
A 501(c)(3) organization is recognized as tax-exempt by the Internal Revenue Service (IRS). Private foundations and public charities are two main types of 501(c)(3) organizations. Public charities are then divided into three distinct categories. As a private foundation, it is important to know which specific category the potential grantee falls into; knowing a grantee is... Read More