Your foundation needs policies in order to operate. Yet, the word policy can send some board members running. This primer walks you through 11 policies your foundation should consider and offers tools to empower your board as it works to fulfill the foundation’s mission.
The policy topics covered in this primer include:
- Attending fundraisers
- Board membership and meetings
- Conflict of interest
- Discretionary grants
- Investment strategy and policy
- Records retention
- Travel and expense reimbursement
- Trustee compensation
Establishing and following some or all of these policies can help your foundation operate more efficiently, align daily operations with your mission, fulfill your legal and ethical responsibilities, and make your foundation more transparent and accountable to the public.