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“If I create a fund at the community foundation, can my investment manager still manage the funds?” You may have already come across a donor that asked this question. Such a donor is essentially requesting that the fund they create be invested outside of the foundation’s investment pool(s). While…
This member update focused principally on important issues related to foundation financial management and endowment performance.
The Council's Board of Directors released this guidance memorandum in March 2010 and strongly recommends that when reviewing and approving foundation investment policies and procedures practices, all foundations—private and public—consider these best practices in foundation investment management.
Practice 1. The board (and investment committee and staff, if any) of a foundation should understand and fulfill their respective fiduciary responsibilities and duties under applicable law and the governing documents of the foundation and stay informed regarding any relevant changes in law, duties…
By Susan E. Budak and Susan N. Gary
The widespread adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) across the country has already been of great help to charities, in part because the financial markets collapsed just months after the uniform act was approved. Most,…
This memorandum considers whether adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) requires changes to existing guidance regarding the reporting and classification of assets held by community foundations. Current guidance is incorporated in a 1997 memorandum, Report on…
Accepting and using tickets and other tangible benefits of more than minimal value raises questions for foundation managers. Review the general Tax Code rules to learn what is acceptable.
In the May/June 1998 issue of Foundation News & Commentary, Jane Nober wrote "That's the Ticket" about using foundation funds to pay for tickets to fundraising events. Six years later, questions about tickets and other tangible benefits paid for by the foundation are still among the most…
What do you do when a grantee—or potential grantee—asks someone on your board or staff to sit on their board? Does such a request constitute a conflict of interest? Are there times when such a situation can actually benefit one or both of the organizations involved?
Let’s look at some of the…
The Stewardship Principles for Family Foundations encourage foundations to provide orientation and training for new board members and professional development for existing board members and staff. They also encourage planning for leadership continuity through activities that identify, educate and…