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
There can be tremendous benefits to a family foundation that invites one or more nonfamily members to its board. Nonfamily members can sometimes help the family make more objective grantmaking decisions. Family members also tend to behave differently in the presence of nonfamily members, helping to shift family dynamics that may be getting in the... Read More
Exponent Philanthropy surveys our members regularly to learn about their grantmaking, governance, investments, and administration. We also learn what keeps our members up at night. What consistently tops the list? Succession, the crucial task of passing the leadership baton. Whether it involves the next generation, a new board member, or a new hire, successful succession... 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
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
This series introduces young people to strategic, thoughtful philanthropy, and inspires them toward giving with impact. Families and adults who work with youth can use these guides to facilitate peer discussions and fun activities around giving. On the menu Order a full-color, printed set of these readers. This project is a partnership of Exponent Philanthropy and... Read More