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Why Written Job Descriptions Are So Important

A job description is a general, global view of the job and its responsibilities. It should include the title of the position and a broad view of the requirements of the job; for example: The executive director is the chief executive officer and is responsible for carrying out the policies established by the board, interacting... Read More

How to Read Potential Grantees’ Financial Statements

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

Awarding Multiyear Grants

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

PRIs: One Foundation Invests in Community Services

Through funds received from individual contributors, foundations, and other sponsors, the Washington Square Community Health Foundation made a $180,000 loan at a below-market rate of interest to be repaid in full by the Lake County Council Against Sexual Assault (LaCASA). Howard Nochumson, the foundation’s executive director, also worked closely with LaCASA’s executive director and board,... Read More

How a Foundation Can Prepare Its Next Generation

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

Employment-Related Taxes

Here, step-by-step, is an overview of everything you need to know, file, and pay to get off to a good start with a new staff person. Classify Every person who receives compensation needs to be classified as an employee or a contractor. The Internal Revenue Service (IRS) has guidelines (in publication 15-A) to help you... Read More