- What are the advantages, disadvantages and likely costs of scholarship programs?
- What do the private foundation rules require, and how should community foundations apply the rules?
- What rules or procedures govern community foundation scholarship programs?
- Does a community foundation need to notify the IRS before starting a scholarship program?
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.
With Congress and the media focusing on corporate governance and foundation administration, it is a good time to make sure that all grantmakers have a strong conflict of interest policy in place. Both private foundations and public charities (such as community foundations) should have clear guidelines on financial or other interests that must be disclosed and transactions that must be scrutinized or avoided. The policy should cover both board members and foundation staff.
The Council's Board of Directors released this guidance memorandum in March 2010 and strongly recommends that when reviewing and approving foundation investment policies and procedures practices, all foundations—private and public—consider these best practices in foundation investment management.
HUD No. 14-128
William S. White with Council President and CEO Vikki Spruill after accepting his honor.
The Council is aware that an individual healthcare worker, who has since tested positive for Ebola, recently travelled from the Cleveland airport. To date, there are no confirmed cases of Ebola in Ohio.
The Council is closely monitoring the information provided by the Cleveland Department of Health, the Ohio Department of Health, and the Centers for Disease Control and Prevention (CDC).
In an abundance of caution, the Council has reached out to local health officials and conference venues.