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).

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Hello, and welcome to New York City. I want to thank you for coming to our second annual Summit focused on finance and endowments.

Today, the Council on Foundations welcomes more than 200 foundation chief executive officers, chief financial officers, chief investment officers, board members, and board investment committee leaders from across the country to its annual Endowments and Finance Summit.

Today, the United States became the first high-income nation to join Kenya, Colombia, Indonesia, and Ghana as pilot countries in the SDG Philanthropy Platform. The global SDG Philanthropy Platform, managed by Rockefeller Philanthropy Advisors, the Foundation Center, and UNDP, brings together foundations and philanthropists across the world to build partnerships between philanthropic organizations, the United Nations, governments, civil society, and business to achieve the 2030 Sustainable Development Goals (SDGs).

The 2016 Salary Tables provide aggregate information on staff salaries among U.S. foundations and corporate giving programs. This data is typically used by foundations to make staffing decisions and provide appropriate compensation for new hires or existing employees. The 2016 Salary Tables include compensation data from nearly 10,000 full-time employees from the 1,010 organizations that participated in the 2016 survey. Responses came from across the country and the tables examine compensation by position, type of foundation, asset size, and region.

The CCSF is the most comprehensive and authoritative annual survey of its kind on foundation investment and governance practices, and provides data for the benefit of foundation trustees and staff, as well as the larger community of grantees, policymakers and stakeholders. The 228 foundations participating in the 2015 CCSF represent $100.6 billion in assets. One hundred thirty private and 98 community foundations make up the Study, which covers the 2015 fiscal year (January 1-December 31, 2015). Topics covered in the Study include:

A new report released today by the Council on Foundations highlights the critical role that U.S. philanthropy plays in helping to realize the United Nations’ 2030 Sustainable Development Goals (SDGs). The study, “From Global Goals to Local Impact,” outlines in detail how the new global development framework is universally applicable to the work of U.S. foundations, and presents concrete ways in which funders can integrate the SDGs into their domestic grantmaking.

The Council on Foundations-Commonfund Study of Responsible Investing was released jointly today by the two representative organizations. The study, believed to be the largest of its kind, provides foundations with invaluable insights into how the sector and individual portfolios are being shaped by responsible investing practices, potential hurdles to their adoption, and what the entry points are for those interested in fully engaging these practices in their endowment strategies.

The Council on Foundations, a member of the Global NPO Coalition on FATF, applauds the Financial Action Task Force’s (FATF) recent update to its counter-terrorism recommendation on NPOs, specifically grantmakers.

The 2016 Grantmakers Salary and Benefits Survey is now open. This survey and the resultant reports are valuable benchmarking tools designed specifically to collect compensation and benefits data for positions at community, private (family and independent), and public foundations, and other staffed grantmaking entities. This annual survey is one of the most important and effective resources for our members and for the field and we encourage you to participate. The deadline for participation this year is July 15th.

On May 18, 2016, President Obama and Secretary Perez announced the publication of the Department of Labor’s final rule updating the overtime regulations.

Key Provisions

The Final Rule focuses primarily on updating the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt. Specifically, the Final Rule: