All foundations rely on trustees for leadership, oversight, and planning. Many small foundations also rely on trustees for a considerable amount of the labor needed to run a foundation. To acknowledge the crucial role that trustees play in governance and operations, some foundations compensate for routine board service, such as attending meetings, reviewing proposals, and... Read More
A board retreat can be an excellent way to spend time on an issue too significant or time intensive to be handled properly within a normal meeting agenda. Many foundations hold board retreats on occasion (ranging from every year to every few years) to ensure that the board addresses important topics, such as the foundation’s... Read More
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
Are you equipped to recognize conflicts of interest and acts of self-dealing? Are you ready to respond if you uncover either at your foundation? Start here, and if you have further questions after reading this article, don’t hesitate to call on Exponent Philanthropy. Recognizing conflicts of interest Conflicts of interest arise when foundation roles intersect... 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