Private foundations, like people, experience a variety of challenges as they grow and change, particularly when a new generation takes over the operations of the organization. Megan Helzner, CFAR, and Valerie Sussman, Hurwit & Associates, use a case study to assess how a private foundation can find success through the following life cycle changes:
- Good news! The Foundation has discovered new sources of funding and wants to expand. What are some considerations for the board during these “growing pains”?
- The next generation wants to expand the Foundation’s mission due to changed circumstances and the new sources of funding. What can the board do to “shape shift” and help the organization thrive?
- The current Board members need someone with more experience to help guide the Foundation in this new direction. How can they go about enhancing and professionalizing their board selection?