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.

In this week's Washington Snapshot:

  • Ways & Means Working Toward Tax Reform;
  • Primary Season is Officially Underway;
  • Adding Scholarship Restriction for Renewal Purposes;
  • Emerging State Issue: Turning to States to Solve the Impasse Over Obamacare.

Read all this and more, online now!

In this week's Washington Snapshot:

  • Hatch's Tax Reform Plan Could Impact Nonprofits;
  • First Ways & Means Hearing of the Year Rescheduled;
  • Contributing Trustee Compensation to a DAF;
  • The Year Opens with State Budget Challenges and Opportunities;
  • Op-Ed Calls for the Sector to Strive for Increased Charitable Giving.

Read all this and more, online now!

Also viewable on LinkedIn Pulse.

Recently, I saw the power of what happens when you put a few dozen foundation CEOs in a room together to discuss the future. They generate as many questions for each other as answers, and, as the head of the Council on Foundations, I’d say that’s a great thing for the communities philanthropy serves. After all, learning and leading together is how lasting solutions are made.

In this week's Washington Snapshot:

  • Upcoming Ways & Means Hearing Will Address Tax Reform;
  • New Changes to IRS Advisory Committee on Exempt Organizations;
  • Update: New Jersey Hospital Property Tax Remains in Flux;
  • Illinois Leading Efforts to Implement Federal Grants Reform;
  • Philanthropy is Projected to Increase in 2016 and 2017.

Read all this and more, online now!

In this week's Washington Snapshot:

  • POTUS Delivers his Final State of the Union Address;
  • Brady Expresses Intent to Take on Tax Reform;
  • Reed to Introduce Bill on University Endowment Spending;
  • Property Tax Exemptions in Flux.

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In this week's Washington Snapshot:

  • Treasury, IRS Withdraw Proposed Rule for Gift Substantiation;
  • DAFs & Child Sponsorship to Charities;
  • State Policy Action in 2015 Predicts Focus Areas in 2016;
  • Update on Financial Action Task Force (FATF);
  • National Taxpayer Advocate Names 1023-EZ Third Most Serious Problem.

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Today we celebrate a major victory for community foundations and your donors.

The charitable “tax extenders” are no longer “extenders” that must be reinstated each year, but have become a permanent part of our tax code. In a historic vote, Congress passed the IRA Charitable Rollover into permanent law, making it available to donors and charities for the foreseeable future.

In this week's Washington Snapshot:

  • Senate Passes Permanent IRA Charitable Rollover;
  • Council Submits Comments on IRS Gift Substantiation Proposal;
  • Omnibus Blocks IRS Political Activity Rulemaking;
  • FASB votes to Revise Nonprofit Presentation of Cash Flows;
  • DAFs, IRAs, & BFFs;
  • Pay For Success Programs Offer "No Free Lunch."

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In this week's Washington Snapshot:

  • Extender Negotiations Coming Down to the Wire;
  • CRS Releases New Report on Endowments;
  • Comments for IRS Gift Substantiation Proposal Due Soon;
  • New Jersey Tax Challenge Heard 'Round the Country;
  • Oregon Op-Ed Explains Why Charitable Giving Incentives are Important.

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This article appears in the December 2015 edition of Alliance Magazine.

The Sustainable Development Goals (SDGs) provide an opportunity to not only address challenges in developing countries, but also to make progress on many of the same challenges that persist in ‘developed’ countries.