Looking for the single best way to manage a family foundation? You may be looking for a long time. Because family foundations are unique within the foundation world, there is no one-size-fits-all answer to management. Each family creates its own rules and structures for its foundation, allowing for a variety of management styles.
In-Depth knowledge on Staffing, Salaries & Benefits
Al Castle is a family trustee of the Samuel N. and Mary Castle Foundation in Honolulu. After serving on the board for several years, he was hired as the first executive director of the foundation by his fellow board members. He also continues to serve as a trustee. In this position paper, he discusses various management options for family foundations, and specifically, the management option that was right for his own-family staffing.
During the summer of 2004, we interviewed several corporate community relations managers to gather advice for new staff in similar positions. Their comments are summarized here, and direct quotes appear in italics. While First 100 Days is not a detailed job description, it will provide novice community relations managers with insight and advice during those initial days on the job.
This is a sample employee performance appraisal.
Interviews from several program officers from corporate foundations and giving programs for advice to those who are new to their positions.
Always a controversial topic, the issue of whether to pay foundation board members is likely to get even more attention. The precipitous decline in foundation assets has everyone trying to make the most effective use of their resources. Expect the media, regulators, general public, and even your grantees to scrutinize the decisions you make.
The Internal Revenue Code provides excise tax penalties that can be imposed by the Internal Revenue Service whenever unreasonable or excessive compensation is paid to high-level employees of charitable organizations. Over and above any legal requirements or public scrutiny, good stewards of philanthropic resources should go the extra mile to be certain that levels of compensation are reasonable. Thus, the Board of Directors of the Council on Foundations strongly urges all foundations to take great care in reviewing and approving the total executive compensation paid to all high level employees, particularly the top executive. When examples of excessive compensation come to light, they receive considerable media attention and negatively influence the perception of foundations and other charitable organizations in the minds of elected officials, their staff members (especially on Capitol Hill) and the general public. Most frequently, the examples that are publicized involve compensation paid to the president or chief executive officer.