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Section 4: Resource 2

Assessment and Renewal

While your family foundation isn’t ruled by the same market forces that helped your family accumulate its wealth, you will undoubtedly want to find out whether your work is making a difference and whether your organi- zation is operating efficiently. To do that, you will need to collect data and information to help refine your practices and improve your results.

The challenge is figuring out what to measure — and determining how to use the information you collect to improve and grow as a family foundation.

This section provides additional reading and guidance on assessment and board renewal in your family foundation. For a wide variety of additional resources on this topic, current NCFP Friends are invited to login to NCFP's Family Philanthropy Online Knowledge Center.

 

 

Read (60 minutes)
Measuring what counts: Meaningful evaluation for family foundations Formal evaluation can be very expensive. Many family foundations believe they lack the resources to evaluate the work they support. A question for all funders is: how do we assess impact in cost-effective ways? If formal evaluation is not the answer, or not the whole answer, what are our alternatives?
Read (5 minutes)
The power of taking stock – 5 reasons to conduct evaluations Many foundations grossly underestimate the importance of evaluating impact. Here are five reasons why foundations should regularly conduct evaluations.
Do (5 minutes)
Creat an interim grant evaluation report! Sample interim grant evaluation report from the Walton Family Foundation.