It is becoming increasingly common for foundations to consider closing shop. While the reasons you’re contemplating this option may be straightforward, the process of closing can be complicated.
The primer walks you through the strategy choices, tasks, and legal steps of closing shop so you can be confident that you know the main legal issue and the options available for your foundation.
This primer will help you:
- Understand the options and strategies for spending out effectively.
- Consider ways to provide for grantees, staff, and board during the closing process and
- Know and follow the legal guidelines for terminating the foundation.
- Plan for the many administrative decisions and tasks involved in closing the foundation.
- Avoid surprises as your foundation closes shop.
Using this resource can help you minimize any negative impact on grantees and other stakeholders and ensure that the spend down process makes the biggest impact in your mission area.