By relying simply on stated fees, such as management fee or advisory fee, foundation trustees may be underestimating the full impact of the aggregate investment expenses because as there may be other components of investment costs that are not explicitly stated as fees. In the 1990s, when portfolio performance was beating the S&P 500, it... Read More
What are we trying to achieve with our grants? You can answer this question in many ways, and one way to start is with how and what you fund. These components shape your philanthropic orientation, the unique way that your foundation approaches the funding process. The how of your giving hinges on how you choose... Read More
Foundations use software for some of the following tasks: preparing mailing labels, creating lists of grantees, recalling grant history, tracking outstanding commitments, sharing grant requests with other trustees online, and tracking letters and reports from grantees. Assessing your needs Any computer consultant will tell you that the first step in choosing software is to take... Read More
To create change, you first have to “create an open will to change,” says Kelly Medinger of The Marion I. & Henry J. Knott Foundation in Baltimore, MD—a will that is built on at least three elements: Trust—One study suggests that emotional involvement is the strongest predictor of one’s commitment to change. Emotional involvement, in... Read More
Leadership can be defined in hundreds of ways. Its definition varies from field to field, deriving its essence from the particular goals, activities, and cultures of different professions or industries. For this reason, we can’t start with an off-the-shelf definition of leadership. Instead, by taking time to explore leadership by small foundations and describe what... Read More
Although all 501(c)(3) organizations are organized and operated exclusively for religious, charitable, or educational purposes, there are two main types of organizations that fall under this classification: public charities and private foundations. Organizations that qualify as public charities do so by having significant public influence, such as a third or more of their income’s coming... Read More