Contributions

Spending policies and payout

Posted on October 28, 2002 by Jason Born

Sam and Celia Sanders established the Sanders Family Foundation to share and continue a philanthropic legacy with their children and future generations. Sam and Celia did not intend to spend out the foundation, and named the foundation as a primary beneficiary of their estate. This case study explores how the Sanders developed a spending policy that met both their goals… Read More

Maintaining a Healthy Endowment

Posted on October 30, 1999 by Charles A. Bundy

This introduction to ‘Investment Issues for Family Funds’ provides an overview of the requirements for maintaining a healthy endowment, as seen through the eyes of one long-time family foundation executive and trustee… Read More

Guidelines to help prudent investment committees

Posted on October 29, 1999 by John E. Craig Jr.

Seven guidelines for prudent investment committees emerge from this analysis of the determinants of a foundation endowment’s performance: 1. Delegate responsibility for as many investment decisions as possible to professionals. It is unreasonable to expect a part time, voluntary committee to deliver the same level of performance achievable by full-time investment professionals. The economies-of-scale of investment management are such that… Read More

Funding a Foundation: What Assets to Use

Posted on October 29, 1999 by Antonia Grumbach

Donors who establish family foundations have a range of options when deciding how to fund their foundations, options that are explored in this chapter from ‘Investment Issues for Family Funds.’ Often they want to create an endowment. Tax and other considerations come into play, particularly if the donor uses stock in a closely held family business or certain other assets… Read More

Selecting and Working with Investment Advisors

Posted on October 27, 1999 by Sally S. Kleberg

Providing sound advice on and effective management of a family foundation's assets constitutes one of the most important responsibilities of the trustees. Investment advisors and managers may be chosen from among family members, trusted associates, or outside professionals… Read More

Developing a Spending Policy

Posted on October 27, 1999 by Ronald Litke

Although federal law dictates minimum annual spending requirements for private foundations, every family has preferences in how, and how much, it chooses to give each year. Should a foundation limit itself to the 5 percent-of-assets requirement? Should principle be invaded? This chapter from ‘Investment Issues for Family Funds’ suggests ways to approach answering these and other questions… Read More

Training the Next Generation

Posted on October 23, 1999 by Lester A. Picker

Preparing the next generation of board members to assume the full range of financial management responsibilities is one of the most difficult challenges faced by family foundations… Read More

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