Hiring takes a good deal of time and sometimes money. The more thorough and careful your recruitment process is, the more likely the staff you choose will be successful and long term. Here are several tips: Decide whether to manage the search internally or with outside assistance—If your foundation decides to handle it, designate a... Read More
To document an investment process that helps your foundation sustain its organizational purpose and achieve its giving goals, a comprehensive investment policy statement (IPS) is vital. The benefits of a well-crafted IPS You should strive for an IPS that does more than simply allow you to “check the box.” A valuable IPS will go beyond... Read More
Regular performance evaluations—at least once a year—can help staff improve their work. The board evaluates the foundation’s lead staff person (i.e., executive director, foundation administrator, CEO). In turn, the lead staff person evaluates other staff members and consultants (as applicable). In some cases, staff members evaluate themselves and then compare their assessments with their supervisor.... Read More
Consultants can be found to help foundations with every aspect of foundation management, including legal counsel, fiscal oversight, grantmaking support, board development assistance, strategic planning facilitation, program evaluation, and even complete foundation management. When it comes to types of consultants, the variety is equally broad. From independent consultants to small consulting companies, to asset management... Read More
Foundation board members are expected to: Set and adjust the direction for the foundation: its mission and goals. Establish principles, policies, and procedures that govern the foundation’s operation and advance its mission. Oversee the foundation to ensure that it operates effectively and efficiently in support of the mission, and that it complies with legal rules.... Read More
Basic requirements for board composition generally are reflected in a foundation’s bylaws or trust document. You’ll also want to consider the qualities you want in individuals who serve on your board. It is helpful to describe the expectations of board members in a position description. Bylaws or trust document requirements Every state has basic requirements... Read More