In today’s litigious society, anyone—including your foundation and the individuals associated with it—may be the target of a lawsuit. Although state and federal laws may provide some protection for your board members and volunteers, this immunity will extend to your organization in only a few states. These laws often contain no protection for legal expenses,... Read More
Here are a few simple tips for good communication with grantseekers. Explain your mission and guidelines Before applicants submit a grant proposal, they need to know your mission and grant guidelines to determine if they are eligible. By making both available, you spare grantseekers the trouble of preparing proposals with little hope for approval. Consider... Read More
Any private foundation can make scholarship grants directly to individuals if it receives advance approval from the Internal Revenue Service; the foundation can file. the Schedule H form to request this approval. If the recipient is chosen by an independent entity (e.g., college or community foundation), advance approval is not needed. George and Mary Josephine... Read More
The legal and practical aspects of international grantmaking may seem burdensome. Yet, small foundations can and do make grants to foreign organizations in legal and trusted ways. Let’s correct seven misconceptions and provide examples of how Exponent Philanthropy members fund effectively around the world. Myth 1: Because our bylaws limit our giving to U.S.-based 501(c)(3)... Read More
Even small foundation boards can benefit from developing an investment committee with just a few members so it is clear who is leading the charge. Board members who understand investing make natural choices for an investment committee; however, they should serve alongside less experienced board members. (Be sure more than one experienced person is on... Read More
To develop a filing system as part of your overall records management system, first sort your documents into major categories that fit with your foundation’s operations. Foundations sort their documents in different ways; some foundations, for example, sort according to the following categories: Founding Documents Legal and Accounting Records Board Records Program Records Personnel Records... Read More