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.

Can we back out of a multiyear commitment we made in a prior year because our foundation’s assets have declined?

The answer in many cases is “no.” That is, unless your grantee is willing to release your foundation from its obligation.

Generally, an unconditional, multiyear grant is considered a pledge to the grantee organization. In many states, a pledge is a legally binding obligation. Therefore, your grantee could seek to take you to court should you stop paying the grant.

Generally, there is no legal restriction against making grants to churches, synagogues, mosques or other religious institutions. But there are some things foundations interested in such grantmaking should know.

Family foundations use discretionary grantmaking to achieve a variety of purposes. Discretionary grantmaking allows some foundations to avoid strife by giving each branch of the extended family a sum of money that it can think of as its own to control. For others, a discretionary fund provides training for the next generation of family trustees. Still other foundations find that allowing discretionary grants can help keep family members who are geographically or ideologically distant from the rest of the group interested in the foundation's work.

Everything you need to know to stay out of trouble with third-party representatives.

Does hearing the sentence "Just make that grant check payable to my fiscal agent" stop you in your tracks? It should. If your potential grantees are washing your grant funds through an accommodating charity that has no control over your grant-funded activities, you should be worried.

Gifts from private foundations to field of interest funds, designated funds, and other funds that are not donor advised, are entirely permissible and do not raise special concerns. Gifts to a donor-advised fund can raise red flags as a potential donor control issue. The law does not prohibit gifts from private foundations to donor advised funds, nor does it exclude such gifts from being treated as qualifying distributions.

Community foundations have proven themselves to be cornerstones of support to the community, especially in times of need and disaster.  When emergencies or disasters strike, the Foundation must be well-prepared to quickly and effectively help itself in order to be able to help others.

This plan outlines the organization’s strategy for responding to emergency or disaster, provides information essential to continuity of critical business functions, and identifies the resources needed to:

The guide aims to inspire individuals and citizen groups to act in organized, effective ways to help people in communities hit by disasters to reclaim their future. It includes concrete suggestions and clear steps towards recovering, rebuilding and re-establishing a sense of security, safety and vitality in these communities.

A guidebook from the Jessie Ball duPont Fund detailing lessons learned from their efforts in the disaster recovery and rebuilding efforts after the rash of tornadoes that devastated Alabama in April 2011.

With the development of the National Disaster Recovery Framework (NDRF), FEMA worked to create systems that can supplement, and not replace, current and ongoing community planning and recovery efforts.

Pages

Subscribe to RSS - Family Foundations