This term is not a legal distinction, but rather a description certain foundations use to define themselves when the founding donor's family is significantly involved with the continued operations of the foundation. A significant majority of foundations in the U.S. are believed to be family foundations.
a private foundation established by one or more members of a family to receive a contribution for the purpose of making current and future gifts to qualified charitable organizations selected by family members
a Private Foundation in which the majority of the board members is related to the donor and the donor's family is involved
a type of private foundation, established by one or more family members to formalize their charitable giving
A form of private foundation funded through family contributions and investment income and run by family members, who determine the charitable distributions, reflecting the goals and values of the family.
"Family foundation" is not a legal term, and therefore, it has no precise definition. Yet, approximately two-thirds of the over 50,000 private foundations in this country are believed to be family managed. The Council on Foundations defines a family foundation as a foundation whose funds are derived from members of a single family. At least one family member must continue to serve as an officer or board member of the foundation, they or their relatives play a significant role in governing and/or managing the foundation throughout its life. Most family foundations are run by family members who serve as trustees or directors on a voluntary basis, receiving no compensation; in many cases, second- and third-generation descendants of the original donors manage the foundation. Most family foundations concentrate their giving locally, in their communities.
A private foundation that derives its funds from members of a single family. At least one family member generally serves as an officer or board member of the foundation. As the donor, you or your relatives play a significant role in governing or managing the foundation throughout its life. Most family foundations concentrate giving within local communities.
Foundation in which grantmaking generally involves more control by relationships and internal leaders, such as family of the foundation, family members still on the trustee committee. Can more often be treated like a major gift relationship.
n. a type of private foundation.
"Family foundation" is not a legal term, and therefore, it has no precise definition. Yet, approximately two-thirds of the estimated 40,000 private foundations in this country are believed to be family-managed. The Council on Foundations defines a family foundation as a private foundation whose funds are derived from members of a single family. At least one family member must continue to serve as an officer or board member of the foundation, and as the donor, they or their relatives play a significant role in governing and/or managing the foundation throughout its life. Members decide themselves if they wish to categorize their private foundations as family or independent foundations. In many cases, second- and third- generation descendants of the original donors manage the foundation. Most family foundations concentrate their giving locally, in their communities.
A private foundation created to make charitable contributions on behalf of a particular family. The board is often limited to family members.
A private foundation whose funds are derived from members of a single family. Generally family members serve as officers or board members of the foundation and play an influential role in grantmaking decisions.
An independent private foundation whose funds are derived from members of a single family. Family members often serve as officers or board members of family foundations and have a significant role in their grantmaking decisions.
