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
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
Experts and experience have shown that the most effective grantmaking in response to a disaster follow the “Four Cs”: Connect with a good source of information about the disaster. Local organizations are already at the scene, know best what is needed, and understand the complex political, social, and cultural context. You might call on: The... 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
10 Ways To Streamline Principles for Peak Grantmaking helps funders reduce the burden of their requirements so grantseekers can dedicate more time to mission-based work. Here are some of their recommendations for streamlining: Right-size applications and reports for small grants. Many foundations ask grantseekers and grantees to complete the same application, regardless of grant size... 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