Family Foundations

The Council on Foundations defines a family foundation as one whose funds are derived from members of a single family, though this is not a legal term and has no precise definition. The Council on Foundations suggests that family foundations have at least one family member serving as an officer or board member of the foundation and, as the donor, that individual (or a relative) must play a significant role in governing and/or managing the foundation. Most family foundations are run by family members who serve as trustees or directors on a voluntary basis. In many cases, second- and third-generation descendants of the original donors manage the foundation.

Family foundations make up over half of all private (family, corporate, independent, and operating) foundations, or 40,456 out of approximately 73,764 foundations (Foundation Center, 2011). Family foundations make up approximately one-third of the Council’s membership.

Family foundations range in asset size from a few hundred thousand dollars to more than $1 billion. The holdings of family foundations total approximately $294 billion, or about 44 percent of all foundation holdings of $662 billion. Despite this, three out of five family foundations hold assets of less than $1 million. Family foundations gave away approximately $21.3 billion in grants in 2011 (The Foundation Center, 2011).

Below is everything on our site for family foundations. You can use the filtering options on the right to narrow these results.

Today we celebrate a major victory for community foundations and your donors.

The charitable “tax extenders” are no longer “extenders” that must be reinstated each year, but have become a permanent part of our tax code. In a historic vote, Congress passed the IRA Charitable Rollover into permanent law, making it available to donors and charities for the foreseeable future.

In this week's Washington Snapshot:

  • Senate Passes Permanent IRA Charitable Rollover;
  • Council Submits Comments on IRS Gift Substantiation Proposal;
  • Omnibus Blocks IRS Political Activity Rulemaking;
  • FASB votes to Revise Nonprofit Presentation of Cash Flows;
  • DAFs, IRAs, & BFFs;
  • Pay For Success Programs Offer "No Free Lunch."

Read all this and more, online now!

In this week's Washington Snapshot:

  • Extender Negotiations Coming Down to the Wire;
  • CRS Releases New Report on Endowments;
  • Comments for IRS Gift Substantiation Proposal Due Soon;
  • New Jersey Tax Challenge Heard 'Round the Country;
  • Oregon Op-Ed Explains Why Charitable Giving Incentives are Important.

Read all this and more, online now!

This article appears in the December 2015 edition of Alliance Magazine.

The Sustainable Development Goals (SDGs) provide an opportunity to not only address challenges in developing countries, but also to make progress on many of the same challenges that persist in ‘developed’ countries.

In this week's Washington Snapshot:

Today, more than 30,000 organizations, countless individuals, and a host of policymakers are celebrating the importance and impact of charitable giving and philanthropy.

In this week's Washington Snapshot:

Sherry Magill PhD, Chair of the Board of Directors

I am deeply saddened to learn of the death of Rick Cohen. He and I first met in the mid 1990s when he served at national LISC and we were attempting to develop a local LISC chapter in northeast Florida. Over the years, we met annually at the Council's conference, sometimes sharing a drink or coffee and a conversation, sometimes stopping casually in a common area as we did recently  in San Francisco.

Last Friday, a string of terror attacks took place across Paris, killing more than 130 people on a warm, lively Friday evening. The day before, a double suicide bomb attack killed more than 40 people and wounded 200 more in a market in South Beirut. These attacks happened the same week as a bomb at a funeral in Baghdad killed 18 and a Russian airliner killed 224 on board after crashing near Sinai, Egypt.

In this week's Washington Snapshot:

  • Don't Miss out on Community Foundation Week;
  • News from the Hill;
  • Regulatory News;
  • Happening Around the Globe;
  • Trending in Legal Affairs;
  • Happening in the States;
  • Philanthropy News & Op-Eds.

Read all this and more, online now!