Association of Small Foundations

“The association updated their by-laws in 2024 resulting in: increasing the number of board members from 15 to 17. Directors need to be paying asf members in full moving forward. Immediate past chair position was created, vice-chair is clearly designated as chair-elect. Added audit and finance committees as standing committees. Putting onus on governance committee to create committee charters.”

“All members have voting rights, with each organizational or individual member having one vote. The governing body, the board of directors, is elected by the membership.”

“All members have voting rights, with each organizational or individual member having one vote. The governing body is elected by the membership.”

“Members of the association's staff and board review the form 990, prior to filing, carefully to ensure its completeness and accuracy.”

“Association staff and board members are required annually to read the conflict of interest policy and affirm their compliance in writing. Matters of conflict are addressed individually by the executive committee.”

“The executive committee, which is also the compensation committee, reviews compensation data on a yearly basis and establishes the ceo's contract.”

“We post our financial statements, 990 forms, 1023 form and irs determination letter on our website, freely available for downloading.”

“The association uses a professional employment organization (peo), insperity, to manage all staff payroll and benefits. For full transparency, employees paid by the peo, for work at the association, have been included in form 990, part vii, section a, line 1a with all reportable compensation and other compensation in the appropriate columns.”

“Exponent philanthropy educates, equips, and connects lean funders to become increasingly knowledgeable and effective through research that informs our education programs and a rich library of publications, tools, and resources. These include, but not limited to: the industry-standard, annual foundation operations and management report, foundation guidebook, trustee handbook, advocacy field guide, digital reports, assessments, annual conference, webinars, cohort programs and q&a service. Our members are the authorities in every aspect of what it means to practice lean philanthropy, so beyond bringing them information, connecting them with each other is paramount to our mission. We intentionally provide opportunities to foster meaningful connections throughout the year via virtual and in-person experiences. These include: virtual roundtables and dine-arounds, peer coaching, leadership cohorts, the annual conference, volunteer committees, the online member directory and discussion communities. This is accomplished by amplifying the voices and experiences of our members through blogs, podcasts, programs, and our awards program. In 2024, exponent philanthropy refreshed the strategic plan which now extends from 2024-2027. It also included the following accomplishments: - nearly 3,100 resources, sample documents, and toolkits downloaded or purchased - 1664 attendees across 23 virtual education programs on catalytic leadership in philanthropy, becoming a better ally, nextgen programming, advocacy, webinars and more; - a successful annual conference in austin, texas with 600 participants; - release of our 2024 foundation operations & management report with over 1,200 downloads/purchases; - nearly 400 posts to the member discussion community; - reached over 8,000 total downloads/listens to the catalytic philanthropy podcast featuring catalytic lean funders; - the launch of research reports highlighting racial equity in lean philanthropy, how funders think grantees can improve and updated the foundation guidebook and filing the 990-pf; - the curation of 51 blog posts with over 30,000 active users.”

“Consultants: program service expenses 435,350. Management and general expenses 13,034. Fundraising expenses 100,577. Total expenses 548,961. Design: program service expenses 19,140. Management and general expenses 29. Fundraising expenses 3,374. Total expenses 22,543.”

“The audit committee of the board assumes responsibility for oversight of the audit and selection of an independent auditor. This process has not changed from prior years.”