Most funders ask grantees—prospective and current—to customize their budgets and financial information to fit the funder’s requirements. Project Streamline, a collaboration of grantmakers and grantseekers working to improve application and reporting practices, recommends a different way: Make requests for nonstandard information the exception rather than the rule. Consider the real costs to nonprofits of customizing... Read More
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
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
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
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
If you take time to answer the following questions, you’ll be well on your way to managing staff legally and ethically, and to creating a supportive work environment that is sure to help your foundation achieve its goals. Advisors and resources Who on the board is responsible for monitoring human resources (HR) at your foundation,... Read More