Is your organization prepared for the unexpected?
Posted on May 5, 2016 by Open Road Alliance
Five questions about risk that every foundation leader should ask, prepared by the Open Road Alliance… Read More
Board assessment, continuity, and renewal
Risk in family philanthropy: An annotated diagram and framework for boards
Posted on May 5, 2016 by Tony Macklin
An annotated framework of the five most common types of risk, adapted from the NCFP Passages Issue Brief, Expanding your comfort zone: A window into risk in family philanthropy… Read More
How do we ensure that the family will not lose “control” of the foundation over time?
Posted on May 3, 2016 by National Center for Family Philanthropy
There are a variety of strategies that family foundations around the country have used to retain control while engaging non-family board members in their work. These strategies may be used alone or in combination, and may include the following: Strategy 1: Create term limits for current board members. A technique used by many family foundations, term limits can be a… Read More
2016 Trustee Education Institute: a Comprehensive Seminar for Family Foundation Trustees
Posted on March 9, 2016 by Virginia M. Esposito, Susan Crites Price, Andrew Schulz, Bruce Kahn, David Grant, David Dodson, David Neal, Alice Buhl, Jan Jaffe, Kelin E. Gersick, Ph.D.
NCFP’s Trustee Education Institute provides a comprehensive introduction to all of the key legal, investment, ethical, grantmaking, and family dynamics issues facing family foundation board members. Featuring a faculty made up of NCFP’s senior staff and highly respected philanthropy experts, this three day, intensive seminar will cover: What does it mean to be a steward of both the public’s trust… Read More
How long should a foundation keep grantee reports?
Posted on February 19, 2016 by Andras Kosaras, James P. Joseph
Are there legal requirements, IRS or other, for foundations regarding receiving and retaining paperwork from grantees that documents how grant dollars were spent? A good rule of thumb is to keep grant materials for seven years. We suggest four years at a minimum. The IRS audit statute of limitations is three years. So, it is important to keep grant materials… Read More
Are there any lobbying red flags to look out for in final grantee reports to our foundation?
Posted on February 18, 2016 by Andras Kosaras, James P. Joseph
Are there any lobbying red flags to look out for in final grantee reports to our foundation? The foundation should look at grantee reports for lobbying flags or electioneering flags. If grantees are not following the rules it is better to know sooner rather than later. This way it can be corrected going forward. For more information, see The Rules… Read More
Recusals: When Should Board Members Excuse Themselves?
Posted on February 18, 2016 by Andras Kosaras, James P. Joseph
If five out of our six board members are on another board of a non-profit, how do we make grants to that non-profit without a majority vote? What are the rules on recusals? This is a little tricky but the members are not required to recuse themselves as long as everyone discloses their relationship with the non-profit. However, if five… Read More
How should a foundation deal with a obvious self-dealing situation if it was set up by our legal counsel?
Posted on February 16, 2016 by Andras Kosaras, James P. Joseph
If a family foundation’s attorney designs an obviously self-dealing relationship on behalf of one of the foundation’s trustees, and with the awareness and participation of all of the other foundation trustees, does the foundation remain free of liability for taxation or penalty, simply because legal counsel designed and approved the relationship? Is there any legal accountability on the part of… Read More
Is it self-dealing to attend a gala representing our foundation?
Posted on February 15, 2016 by Andras Kosaras, James P. Joseph
I have a self- dealing question. Our family foundation is being honored by one of our grantees at their upcoming gala. I have read that attending the gala under such circumstances is considered official foundation business. However, if the foundation purchases tickets for staff and board members to attend the gala, or sponsors a table, does the foundation need to… Read More
2015 Principles for good governance and ethical practice (Executive Summary)
Posted on October 24, 2015 by Independent Sector
Independent Sector’s Principles for Good Governance and Ethical Practice is the foremost guide for sound and successful practice by charities and foundations in the U.S., providing clarity about legal compliance and public disclosure, effective governance, strong financial oversight, and responsible fundraising. … Read More