Together, community foundations are one of the world’s largest philanthropic networks. In Canada, The Winnipeg Foundation set the stage in 1921 for what is now a century of community foundations making the places we live, work, and play more resilient. The collective, collaborative impact of community foundations is growing, as we aspire to deepen relationships,…
The board, through the Secretary’s position, often carries out the task of managing Board operations. However, once a community foundation has employees, these tasks often become staff tasks or tasks shared with the Secretary.
For many smaller community foundations, the Treasurer often assumes both a governance role, related to their membership on the Board, as well as an operations role, especially if there is no staff to take care of bookkeeping and other financial matters. This document will cover the following topics: - Financial Roles and Responsibilities of the…
Fund Development is a team sport and includes all member’s participation in creating and implementing. But what does that look like? This 4 part series will explore the essential components of fund development strategies including building a plan that is aligned, effective and manageable, donor stewardship do’s and don’ts, explore ways to engage members of…
Developing a manageable records management system is critical to your community foundation’s success. It's not just about keeping your office tidy, good recordkeeping is a legal requirement once registered with the Canada Revenue Agency (CRA). Traceable records help you stay accountable to the public, your funders and the CRA, and also keep you on your…
Defining the role of the Executive Director/ Chief Executive Officer (ED/CEO) can be challenging, given the wide variety of shapes and sizes of community foundations in Canada.
The disbursement quota (DQ) is the minimum calculated amount that a registered charity is required to spend each year on its own charitable programs or on gifts to qualified donees, such as other registered charities. Foundations use the DQ to determine the minimum amount of funds they are required to grant annually.
Community foundations in Canada come in all shapes and sizes. Some are run completely by a volunteer board, some operate with a single Executive Director and volunteers supporting operations, while others operate with small or even large teams of paid staff. Regardless of the size of the organization, there needs to be a clear definition…
Community foundations work with donors to provide various and diverse resources, in response to community needs. Producing an annual report provides foundations with the opportunity to celebrate their success in meeting these needs, while also providing reassurance to the community as to the financial and organizational capacity to accomplish its vision and mission.
The final session in our Treasurer and Finance Fundamentals series provides an overview on the importance of internal financial controls necessary for all community foundations. Employee risk, hiring practices, tracking financial systems and best practices will be featured.