Q&A's Archive - Exponent Philanthropy

Q&A Archive

We’re considering setting up a scholarship program. Got any tips?

Private foundations that want to have a scholarship program—and do the work of publicizing the program, reviewing applications, choosing winners, and monitoring awards—must get prior approval from the Internal Revenue Service. This one-time review ensures that you award scholarships (or other grants for study, travel, or similar purposes) in an objective, nondiscriminatory way. Without IRS... Read More

Why should I address succession now?

Succession tops the list of what keeps foundations up at night, yet many are reluctant to tackle the issue. Addressing succession early on has a number of benefits: It’s important to pass organizational strengths to future leaders while senior board members are still active. Disputes over mission, the pressure of geographic dispersal, uneven competencies and... Read More