Our governing board exercises active fiscal oversight.

Our governing board exercises active fiscal oversight.
Governance - Principle IV.

Ask Yourself:

What are my fiduciary responsibilities as required by federal and state law?

Does my foundation comply with all Internal Revenue Service regulations?

How does my foundation make sure that our expenses are reasonable?

What due diligence do we perform on grants?

What financial policies and practices are in place in our foundation? Do we have an approved annual budget, a written investment policy, sound recordkeeping and internal controls?

Do we periodically have an external review of our finances?

The above materials are for educational purposes only. They are not standard or model forms and should only be used as a reference in developing your own documents with advice from legal counsel where appropriate. Please read the full Terms of Use for more information.

Please note that these materials were collected prior to the passage of the Pension Protection Act of 2006 so do not necessarily reflect the recent changes in the law. As always, these documents should only be used as a reference in developing your own documents with advice from legal counsel where appropriate. For more information on the Pension Protection Act of 2006, see www.cof.org/hr4.

Our governing board exercises active fiscal oversight. Governance - Principle IV.

Ask Yourself:

Our governing board exercises active fiscal oversight.
Governance - Principle IV.