Six months after completion of the training, the foundation is excited to share their accomplishments. The board of directors has approved a document prepared by a newly formed task force that outlines the foundation’s governance structure including the roles and responsibilities of each board and committee member. The board is finalizing policies and procedures over record retention and has distributed their most recent Form 990 to all board members for review after filing. Additionally, the participants used the recommendations made during the training to develop a board reference book for current and future board members.
Gifting strategies were a big focus of the discussion especially with the new tax reform implications for potential donors. Based on SVA’s recommendations, the board has updated the website to include an expanded focus explaining gifting strategies to the foundation. Visibility of the work of the foundation has increased through articles in the newsletter, a presentation to the seniors’ group, and a special foundation focus on All Saints Sunday.
“After participating in the educational session, we have received excellent support from SVA to clarify and advise on questions that have come up since the training,” reports the foundation’s leadership.