Today, over 30 philanthropic organizations and corporations announced pledges totaling more than $170 million over the next five years to support veterans and military families. The Philanthropy-Joining Forces Impact Pledge was announced today by Joining Forces and a coalition of leading foundations at an event hosted by the American Red Cross, Council on Foundations, and the White Oak Summit Steering Committee.
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).
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Council on Foundations President and CEO Vikki Spruill will join First Lady Michelle Obama, Dr. Jill Biden, and grantmakers from around the country tomorrow for the announcement of the Philanthropy-Joining Forces Impact Pledge. Made by over 30 funders, this pledge aims to bring support to service members, veterans, and military family causes over five years.
Featured Speakers Confirmed to Inspire You!
Jim Clifton, President and CEO, Gallup
In this week's This Week at the Council, you'll find:
- Pre- and Post-conference Registrations Open for Philanthropy Exchange
- #CF100: Engaging the Community
- WATCH: Big Data and Philanthropy
- Better than Colbert!
- Emerging Philanthropy at the Council
- Tweet of the Week
- Upcoming Events
Get all this news in more, with This Week at the Council.
In this week's This Week at the Council, you'll find the following:
Vikki Spruill, President and CEO, Council on Foundations:
On behalf of the Council on Foundations, I would like to thank Chairman Camp for his decades of public service to the people of Michigan and to the U.S. House of Representatives. We wish him the very best in months and years ahead. We are pleased that Chairman Camp is devoting his final months in office to fine-tuning his comprehensive tax reform proposal.
Board of Directors Official Notice
The Council on Foundations Governance Committee has nominated the following individuals to serve on the Council’s Board of Directors:
Class of 2017
In this weeks issue:
- WINGSForum 2014
- The Council and Commonfund Study Private Foundation Investments
- Don't Miss Out on Philanthropy Exchange
- President Obama Announces Climate Data Initiative
- Tweet of the Week
And more! Read the full issue now.
Announcing the Leading Forward Webinar Series
In This Week at the Council, you'll find:
- New Speakers Announced for Philanthropy Exchange
- Aligning Social Action, Lessons from the Ozarks
- Interested in Applying to the Social Impact Fund?
- Columbus Survey Deadline Extended
- Growth in Nonprofit Job Market
- Tweet of the Week
Find all of this and more in this week's issue!