To kick-start your thinking about leadership at the organizations you fund: Start by building trust—To assess leadership well requires an honest dialogue between funder and nonprofit, and building the trusting relationship that facilitates such dialogue takes time. To build trust, be forthright in your communications with nonprofits and clear about your expectations. Make your grant... 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
The manager, a Baby Boomer, wants to schedule a meeting where she can sit across the table from her employees and discuss the latest project. Her longtime staff member from the World War II generation is ready to go, looking to share stories about what used to work well for the company. Her Millennial employees,... 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
For foundations, supporting start-ups comes with challenges, including taking risks on unproven ideas and helping to build organizations from the ground up. Your small foundation colleagues who fund start-ups, though, say that this extra commitment is anything but a negative. It can be incredibly rewarding—both personally and professionally. Take The Lynch Foundation in Boston. Founded... Read More
A leadership succession plan expresses an organization’s commitment to continuity and stability. It is a written plan identifying the values and process by which leadership will be sought and assumed when a planned or unplanned departure by key board members or staff occurs. Who is prepared to assume responsibility in the absence of those responsible?... Read More