The most effective boards engage in a continual process of self-assessment, that is, an evaluation of their performance. The assessment focuses on how you function as a board, not how you operate as a foundation. For some, this may be familiar thinking; for others, a board assessment provides a framework to think about how the... Read More
Three years ago, Ann Murray and I were having lunch and discussing our favorite subjects: family, friends, and community. Ann and I are married to first cousins who are lawyers and partners in a family law firm in collaboration with brothers, cousins, sons, and a daughter—nine Murrays total. Collectively, we have 30 children and 17... Read More
Most conversations on succession planning turn to how to bring on the next generation or whether to sunset the foundation. Eldon and Betts Mayer thought differently. They wondered if their community on an island in Maine would be willing to take on their family foundation. Three years later, the fund has an engaged board of... Read More
Board self-assessment is a process by which you objectively gather board members’ perspectives about how your foundation operates, compile what you learn, and report your findings to the full board so it can learn from the information, leverage successes, and address any shortcomings. In our experience, boards that make time for self-assessments tend to accomplish... Read More
Diana Bittner was excited. She was inspired. She was ready to learn. As a trustee of the Tracy Family Foundation (TFF), Bittner was one of seven TFF members from across the United States who converged in Phoenix, Arizona, to attend the Exponent Philanthropy’s 2015 CONNECT Conference. Bittner and her fellow TFF trustees spent three days... Read More
The term Outsourced Chief Investment Officer (OCIO) has gained popularity in the investment industry as investment consultants, banks, and small wealth management firms are now offering OCIO services to foundations, endowments, and nonprofits. You may be considering this model instead of the self-managed or consultant model used in the past. Below we include the “T”... Read More