According to the most recent Foundation Operations and Management Survey, the vast majority (95%) of participating foundations provided benefits for full-time staff. In addition, more than three- quarters (77%) of foundations provided some benefits to part-time staff working 20 to 29 hours per week. Furthermore, almost two-thirds (63%) provided some benefits to part-time staff working... Read More
Exponent Philanthropy recommends all foundations create a clear travel and expense reimbursement policy that achieves the following: Advises trustees and staff to choose cost-effective travel options. The law requires that these expenses not be “lavish or extravagant.” Describes the activities for which related travel may be reimbursed and any limits on quantity of travel per... Read More
No. Exponent Philanthropy does not offer a group health insurance policy at this time because state-specific regulations make it difficult to negotiate a group health insurance policy for our national membership. However, we’ve brokered discounted services for members with five or more staff from the human resources outsourcing firm TriNet. This includes competitive health insurance options.... Read More
Foundation board members are expected to: Set and adjust the direction for the foundation: its mission and goals. Establish principles, policies, and procedures that govern the foundation’s operation and advance its mission. Oversee the foundation to ensure that it operates effectively and efficiently in support of the mission, and that it complies with legal rules.... Read More
Yes. Exponent Philanthropy membership dues are a qualifying distribution for your foundation as an administrative expense that furthers your foundation’s charitable work. In fact, we strongly encourage you to account for the payment as an administrative expense rather than a grant. When a foundation makes a grant, the law requires that no benefit accrue to... Read More
Terms To Know Assets represent what the nonprofit owns. Current assets are the sum of all assets that the nonprofit could convert to cash in less than one year. This includes cash and cash equivalents or accounts receivable. Long-term assets are the sum of all other assets, such as property, long-term certificates of deposit, or... Read More