Family Foundations

The Council on Foundations defines a family foundation as one whose funds are derived from members of a single family, though this is not a legal term and has no precise definition. The Council on Foundations suggests that family foundations have at least one family member serving as an officer or board member of the foundation and, as the donor, that individual (or a relative) must play a significant role in governing and/or managing the foundation. Most family foundations are run by family members who serve as trustees or directors on a voluntary basis. In many cases, second- and third-generation descendants of the original donors manage the foundation.

Family foundations make up over half of all private (family, corporate, independent, and operating) foundations, or 40,456 out of approximately 73,764 foundations (Foundation Center, 2011). Family foundations make up approximately one-third of the Council’s membership.

Family foundations range in asset size from a few hundred thousand dollars to more than $1 billion. The holdings of family foundations total approximately $294 billion, or about 44 percent of all foundation holdings of $662 billion. Despite this, three out of five family foundations hold assets of less than $1 million. Family foundations gave away approximately $21.3 billion in grants in 2011 (The Foundation Center, 2011).

Below is everything on our site for family foundations. Due to the large number of resources on our website, we highly recommend you use the site navigation or the search feature to find what you are looking for.

How to Avoid Self-Dealing for Family Foundations

Legal Compliance Guidance
Slide presentation reviewing the basics of avoiding self-dealing as a family foundation.

Hiring An Archival Consultant

Legal Compliance Guidance
The services of a consultant may prove beneficial to an organization considering the creation of a records management or archival program. From a consultation, those who oversee the records and archives project should derive a general sense of the existing historical record of the organization —…

Sample Grant File Index

Sample Document
This sample grant file index allows you to see the types of information which your foundation may need to keep on each of your grantees.

Family vs. Nonfamily Management: The Castle Foundation Shares Its Story

Sample Document
By Al Castle, Executive Director Samuel N. and Mary Castle Foundation Al Castle is a family trustee of the Samuel N. and Mary Castle Foundation in Honolulu. After serving on the board for several years, he was hired as the first executive director of the foundation by his fellow board members. He…

Stewardship Principles for Family Foundations

Legal Compliance Guidance
The Stewardship Principles for Family Foundations are a set of governance best practices that embody how family foundations can reflect fundamental values (including honesty, integrity, fairness, and trust) in their board governance, management, and grantmaking.  

Sample Expenditure Report

Sample Document
This customizable sample report allows you to track expenditures by grantees.

The Effects of Family Culture on Family Foundations

Fundamentals
Most people do not think of their family as having a “culture.” For many, it's a group of familiar people doing what they always do. Yet it is exactly this—a characteristic way of thinking, feeling, judging, and acting—that defines a culture. Both in direct and subtle ways, children are molded by…

Sample Docket Write-up of Program Goals and Strategies

Sample Document
This sample docket write-up allows you to customize your program goal and strategies.

Sample Docket Format

Sample Completed Docket Write-up

A Colleague's Perspective on Trustee Orientation

External Resource
By Anne H. Morgan Becoming a trustee of a family foundation can be a complex, confusing, and confounding experience. Suddenly you are thrust into a room full of persons whom you thought you knew, but now they are all in different roles. Your favorite aunt, who has always seemed so demure and self…

A Colleague's Perspective on Mission and Vision Statements

Fundamentals
This perspective offered by William Graustein of the William Caspar Graustein Memorial Fund in 2013 provides useful context on creating your own foundation's mission and vision statements.  When you get down to it, the reason a charitable foundation exists is to change the world or, at least…

A Colleague's Perspective on Generational Succession

Fundamentals
In 2013, Merede Graham of the Namaste Foundation offered her perspective about how generational succession shaped her family foundation. ----  My parents started our family foundation with the intent of providing their children with opportunities to build confidence and skills to serve us…

Closing Documents Checklist

Sample Document
As you prepare to close out grants, this customizable checklist can help ensure that you've received the appropriate documents from grantees.

Sample Grant Closing Letter

Sample Document
You can send this customizable sample closing letter to grantees upon the conclusion of their grant.

Sample Grant Close-Out Form

Sample Document
This sample grant close-out form can help you wrap up outstanding grants.
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