As the sole staff person of her family’s foundation, the Patrick Carney Foundation, Kate Larisa’s job has its share of challenges. Even if you’re part of the family, staffing a foundation can be lonely work. “I found it essential to form relationships with others and not be afraid to ask for help,” says Larisa. “If... Read More
Can I hire my daughter to staff our family’s foundation? First, determine whether your foundation’s governing documents permit the payment of compensation to a child. As a board member, you should read these documents (i.e., articles of incorporation, bylaws, trust agreement, declaration of trust) first. Also, it is possible that the state law governing your... Read More
It is understandable that emerging leaders may feel underprepared. They often are the youngest or newest member of a board or staff, sometimes just starting their professional journeys. Something more powerful than age or experience also is at work, though: Almost to a fault—and, in Exponent Philanthropy’s experience, without exception—young leaders in philanthropy approach their... Read More
American country music artist Barbara Mandrell sings that she was “country when country wasn’t cool.” For The McCarthy Charities, the lyrics would be this: “We were a family foundation, when family foundations weren’t cool,” or something to that effect. The Samuel N. and Mary Castle Foundation—America’s oldest family foundation still in existence—is only 23 years... Read More
Five years ago, Sy Schwartz announced to his three grown children in their fifties that he wanted them to start giving money away. He would supply the family foundation with $175,000 for them to give collectively. If they did a good job and got along well, the money would increase the next year. Schwartz was... Read More
In Exponent Philanthropy’s work helping small-staffed foundations and donors step into leadership roles, we have learned that the most dynamic, effective funders use their power judiciously—but boldly. In a paradoxical way, the source of their power is passion, curiosity, and humility. They are great listeners. They don’t begin by thinking they know the answers; they... Read More