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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My great aunt, Georgeanna Gibbs Browne, born in 1876 in Philadelphia, was a victim of female genital mutilation/cutting (FGM/C). Her upbringing was church-going and “upper crust.” Newspaper clippings describe her twirling across dance floors at summer soirees and charity balls.
During my seven-year tenure as superintendent of Guilford County Schools, I was committed to listening to and learning from others. I listened to parents, teachers and students to understand what we could do in order to make our schools better for each child. Much of that listening and learning contributed to the development of the school district’s first-ever strategic plan, which through the work of many, resulted in notable student achievements, both academic and non-academic.
Map of the world depicting where civic freedoms are threatened (green is open; red is closed). For those interested in social justice, democracy, and rights around the world, 2016 was an annus horribilis.
In this week's Washington Snapshot:
At the Community Foundation of Greater Des Moines, we’ve been talking about how to deal with minor successors being named on a fund. We started looking into it after reading a discussion about it on the Philanthropy Exchange. It’s a tricky situation: If your fund adviser is underage, they may not be in a position to correctly advise.
Today is World AIDS Day — a time for people all over the globe to remember those we have lost to HIV and to recommit ourselves to ending the AIDS epidemic once and for all. On this day, the Council on Foundations salutes the many individuals and organizations united in the fight against HIV and working to improve the lives of people living with HIV. The Levi Strauss Foundation is among those organizations working to put an end to the AIDS epidemic.
Hundreds of stories are amplified by the minute during #GivingTuesday. The global and social movement captures the hearts, minds, and spirits of many who look to philanthropy on this day.
On the heels of Black Friday and Cyber Monday, #GivingTuesday puts the focus back on the giving season by harnessing the potential of social media to bring about positive change in communities and inspire more acts of kindness.