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Leaders of corporate foundations and giving programs have an opportunity to redefine the role of corporate philanthropy. By taking the initiative to align and engage their efforts more closely with the business, these leaders can help unleash new resources and ideas to enhance the company’s…
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At the Council, we are often asked how corporations can fund scholarship programs for company employees and dependents. Similarly, corporations often want to assist employees in times of crisis, whether due to a natural disaster or a more personal tragedy. In both cases…
When donors to scholarship funds see the impact that their money can have on the life of a student, they are often inspired to contribute more. Sometimes they will add more to the principal of the fund so that future awardees can receive bigger scholarships or more scholarships can be awarded.…
Bringing Funds Into Compliance
The Pension Protection Act of 2006 (PPA) includes the first comprehensive regulation of donor-advised funds. For the first time, donor-advised funds are legally defined. The legal definition is important for grantmakers that operate various kinds of component funds…
Question: Our corporate foundation is planning to establish a scholarship fund for our employees' children. What do we need to keep in mind and what steps do we need to follow to ensure we are complying with the legal requirements?
Response: The granting of scholarships, fellowships, and…
Legal aid provides assistance to people who would otherwise not be able to afford legal representation or access to the court system. While it is an integral part of the American justice system, especially to the most vulnerable in our society, many legal aid programs are unsustainable or have seen…
Community foundations that award scholarships and other grants to individuals from funds with donor involvement should be sure these funds comply with the requirements of the Pension Protection Act of 2006.
The PPA prohibits grants to individuals from funds that meet the fairly broad definition…
A mission statement gives all who are interested an idea of why the foundation was established and how it defines its own work. The statement is usually broad, worded to reflect the donor’s intent, and give a flavor of the foundation’s values and interests. For family foundation trustees,…
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…