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.

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Grant Evaluation Approaches and Methods

Fundamentals
One of the greatest challenges encountered in thinking about evaluation is that there usually is more than one acceptable way to evaluate a given grant, project, or program. The form that an evaluation takes and the products that it yields will depend on choices made about the following issues…

Elimination of Advance Ruling Period for Public Charities

Question: A potential grantee submitted to us an IRS letter of determination that expired on August 30, 2008. The grantee said that, despite the expiration date, the letter of determination is treated as the grantee's permanent ruling. Is this true?   Answer: Yes. On September 9, 2008, the…

Sample Disclosure and Confidentiality Statement for Staff and Board Members

Sample Document
You can use this document to guide the development of your disclosure and confidentiality statement for staff and board of directors.

Calculating the Five Percent Payout

Legal Compliance Guidance
What is the five percent payout requirement? Each year, every private foundation must make eligible charitable expenditures that equal or exceed approximately five percent of the value of its endowment. The purpose behind the minimum payout requirement contained in Internal Revenue Code Section…

Building a Successful CEO-Board Chair Relationship

Fundamentals
Both the board and CEO advance each foundation’s mission. They hold different responsibilities, but they need to support and balance each other. The board chair-CEO partnership is crucial to your foundation’s effectiveness, as well as to your success as a CEO. As one CEO said, “To have a…

Sample Board of Directors Election and Retention Policy

Sample Document
This is a sample document to guide the development of your Board of Directors election and retention policy.

Disaster Philanthropy

Foundations often play an essential role in disaster relief and recovery. Not only do foundations provide grants and help raise money, they also use their experience and expertise to help civic leaders and responders distribute aid and rebuild communities. Our disaster grantmaking resource page…

India: My Five-Star Experience in Uttar Pradesh

Blistering sunlight broils our small group as we gingerly perch around the edges of the raised bed our hosts have set out for us in front of their hut in Godha Village. We’ve come to visit a few of the 100 ultra-poor women in rural Uttar Pradesh recently employed by our local partner, a social-…

How a Private Foundation Can Use "Friends of" Organizations

Legal Compliance Guidance
U.S. private foundations are increasingly involved in international grantmaking. One way for a private foundation to give overseas is to make grants directly to foreign charities. Many U.S. private foundations, however, may want to consider giving overseas indirectly through a "Friends of"…

Basic Options for Global Grantmaking by U.S. Foundations

Fundamentals
The Council on Foundations' definition of “international grantmaking” includes grants made by U.S. foundations and corporations to overseas recipients as well as grants made to U.S.-based organizations operating international programs. This also includes grants made toward activities wholly within…

Section 4947(a)(2) Split-Interest Trust Reporting

Legal Compliance Guidance
The Pension Protection Act of 2006 (PPA) has introduced filing requirements for split-interest trusts such as charitable remainder trusts and pooled income funds. Which returns are affected? These requirements apply to returns for taxable years beginning after December 31, 2006. What are the…

Public Disclosure of Form 990-T for Private Foundations and Public Charities

Legal Compliance Guidance
Under the Pension Protection Act of 2006 (PPA), the rules for public disclosure of the Form 990-T by public charities and private foundations became identical to those for Form 990. Which forms are affected? Any Form 990-T filed after August 17, 2006. What are the public disclosure requirements…

Guidance for Donor-Advised Funds, Supporting Organizations, and Employer Disaster Funds

Legal Compliance Guidance
This resource is a Council Summary of IRS Interim Guidance found in IRS Notice 2006-109, issued December 6, 2006, and explains steps for determining supporting organization status, and important information on the employer disaster relief fund exemption. Responding to requests from the Council on…

Provisions Affecting Supporting Organizations

Legal Compliance Guidance
This chart outlines all provisions that affect the operations of supporting organizations.

FAQ: Supporting Organizations

Legal Compliance Guidance, Fundamentals
Summary A supporting organization qualifies as a public charity because it has a close relationship with another publicly supported section 501(c)(3) organization. Based on the relationship of the supporting organization to the public charity it supports, a supporting organization will be…

Pension Protection Act

The Pension Protection Act (PPA) was signed into law by President George W. Bush on August 17, 2006. The PPA was designed to improve pension plan funding requirements of employers, as well as 401(k), IRA, and other retirement plans. The PPA also included numerous provisions that affect charitable…
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