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 Pledge represents an ongoing effort to strengthen public-private-philanthropic partnerships that address the needs of veterans and military families, such as affordable housing, health and wellness services, education and job training, combatting domestic violence, and more. This report outlines what the pledge entails and who is involved.
Read the joint recommendations by U.S. Secretary of VA and the Council's former CEO, Vikki Spruil, on cross-sector partnerships supporting military families and veterans from Cincinnati.com.
This resource from Africa Grantmakers' Affinity Group provides resources and information on the Nigerian philanthropc sector