Foundation Management: Innovation and Responsibility at Home and Abroad [Hardcover]

Frank L. Ellsworth (Editor), Joe Lumarda (Editor)

Book Description

Publication Date: January 20, 2003 | ISBN-10: 0471269794 | ISBN-13: 978-0471269793 | Edition: 1

A foundation insider's guide to financial management challenges and solutions

Foundation Management represents the only single-volume reference to cover tried and true and emerging financial planning and management issues-in both the domestic and foreign sectors-affecting philanthropic foundations. A companion to Frank Ellsworth and Joe Lumarda's From Grantmaker to Leader: Emerging Strategies for 21st Century Foundations, this comprehensive survey not only provides practitioners with a better understanding of the changing financial, legal, and international landscape, but also delivers targeted operational management strategies. Topics covered include:

• European foundations
• Nongovernment organizations in Asia
• U.S. and Mexican relations foundations
• The relationship between the IRS and philanthropic foundations
• The roles of lawyers, accountants, and investment professionals

Extensive interviews with key industry insiders supplement the commentary throughout. Trustees, CEOs, CFOs, members of investment committees, tax and estate-planning professionals, and program officers will find Foundation Management to be an indispensable resource.

Editorial Reviews

From the Inside Flap

As the very structure of nonprofit foundations has inexorably changed, so has the way that foundations manage their money. A host of global fiduciary problems-from accounting scandals to recessions to political volatility-have caused all nonprofit organizations to reassess their financial management strategies. Foundations with assets invested primarily in one company, as well as those with elaborate asset diversification programs, have experienced a sharp decline in return on investment that was unknown in the heady days of the "new economy." In Foundation Management: Innovation and Responsibility at Home and Abroad Frank Ellsworth and Joe Lumarda, editors of From Grantmaker to Leader: Emerging Strategies for 21st Century Foundations, assemble an all-star cast of contributors to provide a progressive look at the financial and strategic management issues facing the managers and boards of today's foundations.

Foundation Management focuses on giving the practitioner not only an understanding of the shifting financial landscape but also a practical game plan for confronting today's management issues. The authors open their guidebook by examining international foundations and the dramatic exporting of philanthropy that has become prevalent just in the past ten years. In Section One, Exporting Philanthropy, contributors consider both the time-honored foundation traditions in Europe and the exploding nongovernment organization (NGO) scene in Asia. Section Two, More Than Sitting on Money, looks at a wide range of fiduciary issues, such as conflict of interest, trustee compensation, board oversight, risk, and diversification. The final section, The Trusted Counsel, considers two integral players in foundation management: the lawyer and the accountant. Contributors explore the relationship between the IRS and philanthropic foundations, when foundations should turn to counsel, and the challenge of making legal and accounting professionals communicate in plain English. The fine line between fiscal innovation and responsibility is considered throughout Foundation Management. Specific chapters include:
* The Old and New Traditions of European Foundations
* Bolstering Border Philanthropy: United States and Mexico Join Forces to Combat an Array of Problems
* The Process of Investment: Stakeholder Negotiations
* The IRS Eyes the Foundation World

The authors supplement their study with interviews of key industry players, offering first-hand accounts of the real management issues facing foundations today. Foundation Management proves a broad yet targeted survey of the challenges facing the philanthropic sector.

From the Back Cover

A foundation insider's guide to financial management challenges and solutions

Foundation Management represents the only single-volume reference to cover tried and true and emerging financial planning and management issues-in both the domestic and foreign sectors-affecting philanthropic foundations. A companion to Frank Ellsworth and Joe Lumarda's From Grantmaker to Leader: Emerging Strategies for 21st Century Foundations, this comprehensive survey not only provides practitioners with a better understanding of the changing financial, legal, and international landscape, but also delivers targeted operational management strategies. Topics covered include:
* European foundations
* Nongovernment organizations in Asia
* U.S. and Mexican relations foundations
* The relationship between the IRS and philanthropic foundations
* The roles of lawyers, accountants, and investment professionals

Extensive interviews with key industry insiders supplement the commentary throughout. Trustees, CEOs, CFOs, members of investment committees, tax and estate-planning professionals, and program officers will find Foundation Management to be an indispensable resource.

See all Editorial Reviews

Product Details

• Hardcover: 312 pages
• Publisher: Wiley; 1 edition (January 20, 2003)
• Language: English
• ISBN-10: 0471269794
• ISBN-13: 978-0471269793
• Product Dimensions: 10.5 x 7.2 x 1.1 inches
• Shipping Weight: 1.8 pounds (View shipping rates and policies)
• Amazon Best Sellers Rank: #2,082,267 in Books (See Top 100 in Books)