Foundation trustees have many responsibilities, but fulfilling their legal duties probably tops the list. As such, it’s important that you know the rules and where trustees trip up most. Beyond the law, there are many things foundations can do, such as having a clear mission statement and healthy decision-making process, to help trustees stay out... Read More
The easiest way to fund international causes is to use a U.S.-based intermediary or aid organization that has networks in foreign locations. Those organizations specialize in giving abroad and can redistribute funds effectively to meet specific needs. Not only may the grant be more effective because of the organization’s connections but foundations avoid the additional... Read More
Foundations frequently wonder what costs are acceptable to incur while making grants. Grantmaking foundations that have higher-than-average costs often defend themselves by pointing out they sometimes include direct charitable activities (DCAs) in their administrative costs, which are part of their 5% qualifying distributions. These grantmaking foundations sometimes sponsor charitable work, such as convening meetings of... Read More
Together with private foundations, donor advised funds (DAFs) are among the most commonly used vehicles for charitable giving. DAFs are accounts held within and managed by another organization, namely, a public charity known as a sponsoring organization. Like private foundations, DAFs offer substantial flexibility to the donor. DAF holders may choose a one-time donation or... Read More
Whether joining together to voice your support for a cause or to make grants as a pooled fund, funding partnerships have many benefits: They allow you to work on a larger scale—either in dollars, visibility, or other resources—to risk-share, and to leverage your dollars. Funding partnerships also make for deepened relationships with other funders, which,... Read More
A leadership succession plan is a written document—approved by the board and easily available to board members—that identifies the process by which leadership will be assumed when key organizational leaders depart, whether the departure is planned or unplanned, permanent or temporary. A succession plan is an essential and critical source of guidance, and an expression... Read More