When funders give general operating support, also known as gen op grants, they help sustain a nonprofit’s mission, rather than specific programs or projects. Grantees can use these funds to strengthen the organization, or further its charitable purpose as they see fit. This might mean salaries and overhead, investing in technology, furthering fundraising efforts, or... Read More
What’s on the agenda for your board this year? Are you covering the bases of good governance? Maintaining a checklist of annual to-dos can be an easy way to keep your foundation up to date and on-track. A checklist for your board can serve as a reminder of your legal obligations and governance best practices.... Read More
To paraphrase the ancient Greek philosopher Aristotle, it’s easy to give away money. However, it’s much more difficult to know how and where to give it. Anyone who has managed a grantmaking program understands. Granting money is not difficult. Doing it effectively is another story. That’s why many leanly staffed foundations often enlist philanthropic advisers—organizations... Read More
To right-size your requirements mean tailoring what you require from grantseekers and grantees when they apply for and report on your grants. As an illustration, what you require is proportionate to the size of grant, appropriate for the type of grant, and reflective of any existing relationship with the grantee. In short, right-sizing considers the... Read More
Having specialized grant applications and reports imposes a big administrative burden on nonprofits. Consider, a nonprofit receives grants from 20 or 30 foundations—and some are funded by many more. The nonprofit spends its resources in two major ways: It applies for funding from 40, 50 or 60 different foundations. Each foundation has its own application... Read More
Without a doubt, giving plenty of time and thought to your foundation recordkeeping system will pay off in the long run. In general, you should keep most foundation files of any significance for a minimum of three years. However, this can add up to a lot of paper! For one thing, if space is a... Read More