Advisors and estate planning

Audit Committee Charter (The Wallace Foundation)

Posted on June 18, 2014 by The Wallace Foundation

The Audit Committee of the Foundation’s Board of Directors (the Committee) assists the Board in fulfilling its responsibility for oversight of the quality and integrity of the accounting, auditing, and reporting practices of the Foundation. The Committee’s purpose is to oversee the accounting and financial reporting processes of the Foundation, the audits of the Foundation’s financial statements, and the qualifications… Read More

Investment Policy (The Wallace Foundation, 2021)

Posted on June 18, 2014 by The Wallace Foundation

The investment goal of The Wallace Foundation (the Foundation) is to earn a total return that will provide a steady stream of income to fund the grant making and operations of the Foundation in support of its mission while preserving the real or inflation-adjusted value of the Foundation’s total investment assets (the Total Portfolio) over long periods of time… Read More

Whistleblower policy for board members (The Wallace Foundation)

Posted on June 18, 2014 by The Wallace Foundation

If a Foundation board member becomes aware of or has a reasonable good faith belief that the Foundation may be involved in illegal activity, fraud or violation of organization policy (as defined in Exhibit 1), or if the board member suspects any impropriety regarding the Foundation’s accounting methods, internal controls, audit processes or any other financial matter, the board member should immediately report such concern (“suspected wrongful act”) to the Senior Counsel or the Chair of the Audit Committee… Read More

Crafting Your Charitable Mission Statement: A Guide for Donors

Posted on May 15, 2014 by Melinda Tuan

When donors start along their philanthropic journeys, one question that often arises is whether it is important to craft a mission statement; and if so, how best to do so. As with any journey, knowing your destination – or in this case, articulating your goals for your philanthropy by crafting a mission statement – can be an invaluable first step… Read More

The U.S. Trust Study of the Philanthropic Conversation: Understanding advisor approaches and client expectations

Posted on October 8, 2013 by Bank of America Private Bank, The Philanthropic Initiative

The vast majority of high net worth (HNW) individuals give to charity, and many feel that philanthropy is an important aspect of their wealth experience. HNW individuals are increasingly relying on professional advisors for support with their charitable activity. However, the philanthropic conversations with and advice provided by their advisors are not always aligned to their needs. Several disconnects between HNW individuals and advisors center on the initiation and substance of their philanthropic discussions… Read More

Payout requirements for Type III supporting organizations that are not functionally integrated

Posted on March 11, 2013

This document contains both final regulations and temporary regulations regarding the requirements to qualify as a Type III supporting organization that is operated in connection with one or more supported organizations. The regulations reflect changes to the law made by the Pension Protection Act of 2006. The regulations will affect Type III supporting organizations and their supported organizations. The text… Read More

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