Without a doubt, giving plenty of time and thought to your foundation recordkeeping system will pay off in the long run. In general, you should keep most foundation files of any significance for a minimum of three years. However, this can add up to a lot of paper! For one thing, if space is a... Read More
This fundamental set of practices is a great place for funders to start advancing racial equity in philanthropy. That said, these actions are just the beginning. They complement a continual journey of learning about systemic racism. Equitable Grantmaking Practices Eliminate Barriers to Entry Don’t impose a minimum organizational size or budget in your grant guidelines. Instead,... Read More
With open communication, and detailed grant guidelines, you can build good relationships with potential partners from the start. At the same time, you can help other grantseekers move onto different funding sources quickly. However, guidelines are just guidelines. If you want to make a grant outside of your stated guidelines, you can certainly do so.... Read More
A leadership succession plan is an essential source of guidance, and a commitment to organizational stability, when foundation transitions occur. Specifically, this written document identifies a course of action for when key leaders depart, whether planned or unplanned, permanent or temporary. To illustrate, consider what happened to one of our members: “Our foundation had succession... Read More
What is a net grant and why does it matter? Well, time is money and grantees incur costs while applying for grants. For instance, think about how long it could take a nonprofit to customize their financial documents to your specifications, and language to your unique questions and formatting. According to Project Streamline, nonprofits can... Read More