NCFP Blog

Self-dealing is defined to include almost all business and financial transactions between a private foundation and its “disqualified persons.” So what is exactly is a disqualified person? The following is excerpted from the National Center for Family Philanthropy’s Passages Issue Brief, “Avoiding Conflicts and Self-Dealing for Family Foundation Boards,” by Ben White.  A transaction that involves self-dealing always has three… Read More

For many funders, audits can be a daunting and arduous process. However, asking your auditor a thoughtful set of questions can help to ensure that your organization has a clean financial bill of health. Questions for the Auditors Did management limit or restrict the audit in any way? Did the scope of the audit differ from pre-audit plans? Are there… Read More

Question: My 50-year reunion is coming up and  I would like to make a meaningful contribution to my alma mater. I have also decided, reluctantly, that the time has come for me to part with the family vacation home in Maine that has meant so much to me and my late husband over the past 40 years. The kids and… Read More

Editor’s note: This article is excerpted from the NCFP CEO Guide, Performance Review: The Complete Guide to Evaluating the Family Foundation CEO. Setting priorities can be challenging for a new CEO, what with the myriad responsibilities of the job. When Kathleen Odne, the executive director of the Dean & Margaret Lesher Foundation, became the foundation’s first staff person, she came… Read More

Private foundations frequently receive grant applications from groups that are under the fiscal sponsorship of a section 501(c)(3) public charity. But sometimes the request is for the private foundation itself to serve as a group’s fiscal sponsor. Is a private foundation legally permitted to serve as a fiscal sponsor? Why would a private foundation serve as a fiscal sponsor and… Read More

Our foundation has begun discussions to add nonfamily trustees to enhance and complement the skills and perspectives currently on our all-family board. How do we ensure that the family will not lose “control” of the foundation over time? There are a variety of strategies that family foundations around the country have used to retain control while engaging non-family board members… Read More