The National Center for Family Philanthropy and Youth Philanthropy Connect, a program of the Frieda C. Fox Family Foundation, have teamed up on the release of our latest Passages Issue Brief entitled, “Igniting the Spark: Creating Effective Next Generation Boards.” This Issue Brief is being distributed this week to participants at the 2013 Youth Philanthropy Connect Conference in Disneyland, and is available now in the Family Philanthropy Online Knowledge Center for NCFP Friends of the Family and FP Online Subscribers. Family foundations representatives may also request a copy by sending a request to firstname.lastname@example.org.
Federal law regarding conflicts of interest and self-dealing at foundations can be complex and confusing. Family foundation boards that are eager to comply with both the letter and spirit of the law should understand the legal definition of “disqualified persons” as well as the variety of rules for certain regulated activities.
Carrie Avery, the President and Board Chair of the Durfee Foundation, represents the third generation of Averys to take the helm of the family foundation. A lawyer by training, Carrie currently chairs the board of the National Center for Family Philanthropy in addition to leading Durfee and infusing her family’s foundation with her own brand of creative philanthropy.
JJ Hanley faced a situation well known to nonprofit executives: the number of volunteers that wanted to help was outstripping the agency’s capacity to manage them. Operating with a small staff, volunteers were key to the success of JJ’s List – which connects people with disabilities with community businesses and services – and her late-night brain-storms of one weren’t getting anywhere. She had some ideas, but the challenge was new to her. Pay a consultant? Yeah, right.
In days of scarce resources and seemingly endless philanthropic choices, family foundations and funds can frequently feel overwhelmed by options and unsure where to best place their philanthropic bets. Many funders wisely choose a focus area for funding, and then proceed to investigate – or be approached by – any number of apparently worthy organizations to support within that field.
Several of the key lessons and best practices voiced at the convening are ones that we at Arabella have also learned and grappled with firsthand when providing strategic guidance, facilitation, and operational support services to a range of donor collaboratives in recent years.
Researchers have pointed out that a relatively small group of Gen Xers and millenials is poised to inherit some $40 trillion in wealth, a significant proportion of which is earmarked for philanthropy. Because nearly a third of today’s family foundations were created in the past decade, many donors have an incredible opportunity to think now about the future of these organizations and discuss why they and their family members aspire to be involved in philanthropy. Knowing why—not just how—will help define how to successfully involve your family and keep them inspired into the future.
Once again everyone’s favorite time of year has arrived, audit time. For many, this can be viewed as a daunting and even arduous process. A family foundation in the National Center’s network of Friends who no longer cringes at audit time shares this list of questions to ask your auditor to ensure your organization has a clean financial bill of health.