What are some key elements of a grantmaking strategy? A mission statement, which is informed by the donor’s intent and objectives A statement of purpose, defined by program interests, geographic focus, grantmaking style A process for accepting, reviewing, and awarding grants A set of guidelines that inform the grantseeking community about what the foundation does... Read More
Nowadays, foundations rely on intermediaries to handle much of their grantmaking abroad (in dollar terms). Reputable intermediaries make it their business to meet federal regulations, such as determining the equivalency of a foreign charity and following antiterrorist financing guidelines. Taking care of these requirements eases the administrative burden of foreign grantmaking for U.S. foundations. Through... Read More
“Innovation is in the eye of the beholder,” says Sandy Herz, director of global partnerships at the Skoll Foundation. “Different foundations see it in different ways.” Convening grantees may be innovative for some foundations, even though others have been doing so for years. Or, another foundation might add program related investments to its grantmaking portfolio,... Read More
The primary purpose of financial statements is to communicate the financial health of the grantee. A non-accountant should be able to understand a well- written statement. The balance sheet, a statement of position, views a grantee on a specific date. The income statement, a statement of activity, looks at a year’s operating activity. The statement... Read More
How can funders help their grantees to be as effective as possible? Even small amounts can go a long way toward alleviating the tremendous demands on executive directors. Exponent Philanthropy members offer these suggestions: Board recruitment, training, and development—Consider making a grant to allow the nonprofit to focus on board recruitment, training, and development. According... 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