As a foundation, philanthropy is your business. Like a company, you need a vision and mission, and a strategic plan. If you're a small or relatively new foundation, you may not yet have a fully formed vision, or an effective strategy. You may need help organizing your giving, establishing and communicating grant guidelines and preparing the necessary documentation to achieve optimal tax benefits and satisfy IRS requirements. If you're a mature, well-established organization, it may be time to take a critical look at your stated mission, processes, communication strategies, guidelines, and objectives to ensure that your mission continues to reflect your values and that you are doing everything you can to achieve them efficiently and effectively. Or, you may need help designing and implementing a specific project or program within your mission.
Whatever your size, it's essential to consider questions such as:
- Who makes philanthropic decisions for the foundation?
- What criteria are applied to those decisions?
- What systems are in place to evaluate grant requests?
- How do you investigate and research which charities will receive your philanthropy?
- How do you evaluate the impact of your grants?
- Are there opportunities to partner with other foundations to achieve greater impact?
- Do you have specific projects you'd like to undertake for which you lack sufficient staff to implement?
- Are there nonprofits whose mission you support but who lack the capacity to fully implement their mission? Would you like to help them improve their capacity before funding programs?
- What accountability is there from the nonprofit organizations to which you give?
These are just some of the issues that you need to address. Click here to learn about other considerations. Whether you're a small organization without extensive internal resources or a large organization that can benefit from outside expertise, The DeBoskey Group can help.