What policies and processes help keep trustees on the high road?

A few simple policies and processes can help trustees to make consistent, unbiased, and thoughtful decisions, including:

  • Conflict of interest policy to minimize the potential for bias and unethical decision making
  • Internal financial controls (and perhaps a whistle-blower policy) to ensure proper financial oversight
  • An investment policy statement to help trustees uphold their fiduciary duties by establishing a plan for your foundation’s investments and advisors
  • A decision-making process that encourages consensus but allows for healthy discussion and dissent
  • Ethics policies, which are considered a best practice by the Internal Revenue Service, to define the overall moral fabric of a foundation and hold trustees to high standards

Learn more about keeping your trustees on the right track >>

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