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
When handling money, the following practices work for many foundations: Opening a single foundation bank account. Foundations that make grants only one to two times per year or those with minimal operating expenses simplify recordkeeping by making most transactions from one account. Some also use a money market account. Keeping up with cash flow needs.... Read More
Consider the following questions when hiring investment managers directly: What is the manager’s investment philosophy? Does the manager try to help you understand the philosophy, or just use terms meant to put off your questions? Does the manager pick securities from a preapproved list? If so, what is the justification or strategy for doing so?... Read More
As the chief volunteer officer, your board chair is responsible for leading the board. This position demands exceptional commitment to the foundation, first-rate leadership qualities, and personal integrity. To meet the challenges of this position, the chair must earn and maintain the respect of fellow trustees. An effective board chair is: Knowledgeable about the foundation... Read More
Your investment policy statement (IPS) should have clear procedures for monitoring, evaluating and changing your investment advisors. It’s a key part of fiduciary responsibility. Investment advisors include outside investment consultants, an outsourced chief investment officer (OCIO), and/or investment managers. Any contracts regarding investment services should clearly define the roles and responsibilities of all parties (i.e.,... Read More