Although your grants speak volumes about your identity, your foundation may play other roles that do just as much good—maybe even more. Maybe it’s speaking out about education issues or offering expertise in neighborhood development. How do you find your foundation’s voice? What is your identity? Some large foundations hire consultants at five- and six-figure... Read More
Not yet convinced of the value of a foundation website? Consider this: People are looking for you online—Basic information about your foundation is available online at sites like GuideStar, but without a website of your own, you miss the opportunity to share more about your foundation—and to do it quickly, clearly, and at little expense.... Read More
“People in philanthropy don’t give themselves permission to take a break,” says Exponent Philanthropy member Nancy Wiltsek, executive director of The Pottruck Family Foundation in San Francisco and trustee of The Gagarin Trust. “Everyone assumes we’re the ones with the cushy jobs. We give money away, so what do we need time off for?” Wiltsek... Read More
Should you choose to hire paid staff, compensation must be reasonable, and the services provided must be reasonable and necessary to carry out the private foundation’s tax-exempt purpose. Compensation even may be provided to a disqualified person (i.e., staff or board member) as long as these standards are met. The Internal Revenue Service (IRS) says... Read More
“In my office of one, I’m constantly facing deadlines, putting out fires, and dealing with day-to-day needs,” says Exponent Philanthropy member Katrin Wilde, executive director of the Channel Foundation in Seattle, WA. “Sometimes I wonder, ‘Who has time for professional development?’ ” Time isn’t the only challenge. Says Wilde, “As a social justice funder, we tend... Read More
For starters, which foundations should consider having a pension plan? One consideration is eligibility: Any foundation that compensates any individuals for their services, whether those individuals are full-time employees, part-timers, or board members, can set up a pension plan for those individuals. Of course, tax-exempt organizations don’t gain the same tax benefits from pension contributions... Read More