This chapter of Mastering Foundation Law examines Uniform Prudent Management of Institutional Funds Act (UPMIFA) and other laws that govern the management and investment of endowments and other foundation financial assets. It also includes a discussion of the board’s role and the use of outside advisors.
From budgeting, accounting and investment practices, audits, and managing external consultants, there is a broad range of skills for foundation executives and board members to understand. The Council maintains a wide range of financial management resources to help you follow good governance procedures and ensure thorough oversight.
In-Depth knowledge on Financial Management
This white paper provides a review of critical governance issues that foundations must consider to remain in compliance with prevailing and emerging laws and regulations. Readers can expect content focused on Trustee fiduciary responsibilities as relates to duties of care, loyalty, and responsibility.
This brief provides practical advice and tips on setting strategy, ensuring an on-the-ground presence, and selecting partners for U.S.-based companies with foundations and/or giving programs that are either venturing into the international giving arena or seeking to enhance their current programs. The last section highlights the importance of maintaining legal compliance.
Raising money for community needs is the central function of community foundations. No surprise, then, that we receive more questions about fundraising than about any other topic. Following are some common inquiries we receive by telephone and e-mail and the replies we give.