According to nonprofit corporation law, a foundation director or trustee must meet certain standards of conduct and attend to his or her responsibilities to the organization—otherwise referred to as the duty of care, duty of loyalty, and duty of obedience. Many organizations circulate an explicit code of duties and responsibilities. On taking office, trustees review... Read More
Board Meeting Checklist Before the meeting: Let trustees know the meeting date, place, and time well in advance. Assign or remind trustees of board roles and tasks, so they can come prepared. Plan the meeting with a facilitator (if appropriate) and get input from the rest of the board. Establish clear goals for the meeting.... Read More
Healthy foundation boards do all of the following to reinvigorate themselves—each step feeding into the others: Identify—Determine what your board needs (e.g., skills, knowledge, perspective, connections; diversity of age, gender, ethnicity, or other demographic factors) and those sources that can direct you to potential trustees possessing the characteristics your board is seeking. Cultivate—Build an inclusive... Read More
5 Reasons Why Having a Foundation Website Is Valuable: People are looking for you online. Websites save you time and money. Websites save grantees time and money. Websites tell grantees they are important. Websites promote the good work of your foundation and your grantees. Read More
Classifying staff Your foundation must classify every person who receives compensation as an employee or a contractor. The IRS has guidelines (in publication 15-A) to help you classify your new employee. If determined to be a contractor, the employer does not collect or pay any employment taxes. It’s important to understand that the foundation is... Read More
Consider these compelling reasons for choosing a focus or two: A focus directs your time and allows you to develop expertise. Boards and staff have limited time; use it wisely by focusing their efforts. A focus allows your key players to know the issues and grantees more intimately and to strategically apply their knowledge, reputations, and... Read More