Dan Searle understood the value of a strong mission statement, one that conveyed not only his philanthropic goals but the values and philosophy behind his intent. Searle’s story is also Read more…
Grant compliance is an important concern for all donors. It’s particularly so for givers with well-defined values and mission statements. If that describes you, this article covers five principles and Read more…
Your mission is only as strong as your people. Selecting your trustees is the first step, but even the best board won’t counterbalance a staff that’s unaligned with your mission.
Operating foundations are the best choice if you have a very specific philanthropic goal that few—if any—charities are fulfilling. With this option your foundation funds its own charitable services and Read more…
If you seek maximum flexibility in your philanthropy, consider bypassing the tax-exempt route and forming a for-profit limited-liability company (LLC). The benefits of LLCs in charitable work are numerous: wider Read more…
Laws governing trusts and not-for-profit corporations vary from state to state. Choosing a home for your foundation can be important in protecting donor intent. Delaware is generally the preferred jurisdiction Read more…
Donor-advised funds (DAFs) are one of the simplest ways to protect your charitable intent. These funds originated within community foundations as a way for donors to create individual philanthropic accounts Read more…
More than 800 community foundations operate in the United States, serving areas large and small. What all community foundations share is a long-term commitment to their place, through the pooling Read more…
A philanthropic partnership could help your charitable dollars go further. A typical philanthropic partnership involves a third-party intermediary bringing funders together through a portfolio approach. Examples include the Charter School Read more…
Supporting organizations (SOs) are, at first glance, attractive tools for donors who value simplicity, and seek an ongoing, perhaps multi-generational, relationship with the charity to be supported. Broadly defined, an Read more…
At the heart of good governance, reminds Virginia Esposito of the National Center for Family Philanthropy, is “building the board your foundation deserves.”
The question of donor intent should be in the front of your mind when choosing a board. But donor intent is only part of the equation. Your board will need Read more…
It’s one thing to pick board members you know and trust while you’re living. It’s another to plan successfully for board succession after you’ve passed. Donor-intent violations often occur during Read more…
Compensating your board has both advantages and disadvantages. This article explores them from the perspective of donor intent. Board compensation is one means of tapping individual self-interest for the purpose Read more…
After you create a plan for recruiting, training, and retaining strong members for your board of directors, what’s the next step? It is to establish powerful operational board policies to Read more…
The most effective donor-intent safeguards are internal: Creating a strong mission statement, picking the right timeframe for your giving and the appropriate vehicle, and choosing the right people for your Read more…
Philanthropy, both big and small, has been a vital force throughout the American experience. It represents the best ways that civil society responds to problems and needs in our smallest Read more…
Donor intent remains an afterthought for far too many givers. But the risks are significant. Without a plan for donor intent, your philanthropy can quite easily slip into a comfortable Read more…
A strong, well-crafted mission statement is the first step to safeguarding your intent. “It all starts there,” says philanthropic consultant Calvin Edwards. The importance of a mission statement holds true Read more…
Several ingredients go into making an effective mission statement for your philanthropy: specificity, brevity, clarity, proper supporting documentation, and the input of trusted family members or colleagues, to name a Read more…