Whistleblower Policy (Sample)
Posted on June 19, 2015
Whistleblower policy for the California-based Durfee Foundation… Read More
Ethics
Toeing the Line: Legal Pitfalls in Family Foundation Governance
Posted on December 11, 2014 by Andrew Schulz
Should we accept those tickets to the opening of the new local theater that just arrived in the mail? Can our family office charge our foundation for rent? Is it o.k. for us to pay Uncle Bob to manage the foundation’s investment portfolio? Can we make a grant to our family's donor advised fund to help make year-end payout requirements? … Read More
The 2014 Trustee Education Institute: An intensive seminar for family foundation trustees
Posted on September 24, 2014 by Glen Galaich, Virginia M. Esposito, Susan Crites Price, Ami Aronson, Andrew Schulz, Kelly Sweeney McShane, Kristin Pauly, Leonor Alfonso, Maegan Scott, Mary Phillips
DOWNLOAD COMPLETE 2014 AGENDA HERE – SEE SPEAKER LIST AND BIOS BELOW 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… Read More
Is there a role for non-trustee members of the family?
Posted on December 11, 2013 by Michael Rion
Responsible family philanthropy encompasses not only a sense of public accountability but also a sense of responsibility to other family members who may not be trustees. If the donor clearly intended for the foundation to encourage the extended family to be interested in philanthropy, current trustees should consider how best to communicate foundation policies and actions and to receive appropriate… Read More
How should we choose trustees when there is a vacancy?
Posted on December 11, 2013 by Michael Rion
Apart from some minimal requirements of state law (e.g., mental competency), there are no legal mandates about the process of choosing trustees. In some cases, especially in small foundations with very few family members, succession may be directed in the by-laws and/or by custom so that, for example, direct descendants are “in line” as the successor trustees. When trustees have… Read More
Do we need formal policies on trustee selection, orientation, and evaluation?
Posted on December 11, 2013 by Michael Rion
Although there are no legal requirements, commitment to responsible trusteeship includes ensuring that such policies and procedures appropriate to the size and nature of the board are in place. For many foundations, this may mean nothing more than a mutual understanding between two spouses or siblings that review and evaluation of one another’s actions as trustees is appropriate when needed… Read More
How do we include successor generations on the board?
Posted on December 11, 2013 by Michael Rion
In some family foundations, there are eager and willing members of the second, third and even fourth generations who can serve as trustees. In these cases, responsible philanthropy and ethical treatment of family members means developing specific criteria for trustees and applying these criteria objectively in inviting new trustees. Criteria might include such factors as experience and maturity, diversity of… Read More
What is the appropriate role for non-family trustees and how are they selected? Should they be treated any differently from family trustees?
Posted on December 11, 2013 by Michael Rion
Non-family trustee positions should be clearly defined, regarding both criteria for filling the position and the length, renewability, etc., of terms. Although nothing prevents trustees from simply appointing their closest friends and advisors without regard to other criteria, ethical responsibility considerations would suggest some more objective criteria related to the mission and purpose of the foundation and the rationale for… Read More
Should we have non-family trustees?
Posted on December 11, 2013 by Michael Rion
There is no legal obligation to include non-family members as trustees. Experience in the field is widely varied. Many foundations include only family members who are blood relatives, and others include family members by marriage. Many others will have one “outside” trustee, typically an old family friend and/or someone with legal or accounting experience. Still others include as a matter… Read More
Conflicts of Interest and Avoiding Self-dealing for Family Foundation Boards
Posted on May 21, 2013 by Benjamin T. White
This Issue Brief includes a detailed history and descriptions of the self-dealing rules, with a particular focus on self-dealing as it relates to managing a foundation’s investments. The paper also features a collection of short vignettes on common questions and a one-page referral checklist for board members and staff… Read More