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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The Public Policy and Legal Affairs team at the Council diligently follows and consistently engages on regulatory matters that impact the nonprofit and philanthropic sector. See below for comments and letters the Council has submitted on behalf of our members and the field to strengthen philanthropy.
Member CEOs are invited to the Winter Retreat for Foundation CEOs to be held December 9-10, at L’Auberge Resort in Del Mar, California (30 minutes north of San Diego).
As you know, organized philanthropy is experiencing many changes, especially executive transitions that are transforming not only specific foundations but the field in general. Transition, including succession planning, process, and strategic planning, demands a conversation that foundation leaders are eager to have.
We have heard from many of you that it would be valuable to have some points to reference as you speak to your colleagues and board about the value of your engagement with the Council on Foundations.
Only you can authentically speak about your experience and reasons to continue your membership with the Council. Whether you attended a training session, met new colleagues at a conference, utilized research tools, or received valuable guidance from the legal team, these interactions help convey your positive experience with the Council.
In this week's Washington Snapshot:
- News from the Hill;
- Happening in the States;
- Philanthropy News & Op-Eds.
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The Healthy, Hunger-Free Act of 2010 authorizes funding for federal nutrition programs including:
The Council would like to thank all of our partners for their support of the 2015 Endowments and Financial Services Summit.