New to the field? This one’s for you.
This post first appeared on the Foundation Center’s GrantCraft blog. GrantCraft, a service of the Foundation Center, taps the practical wisdom of funders to develop free resources for the philanthropy sector. New to the field? This one’s for you. Folks who are new to the field often request a glossary of terms just to make sure they know the basics. Our sister site GrantSpace (geared more towards nonprofits, while GrantCraft speaks more directly to funders) has shared the below list that defines the most commonly used terms in Foundation Center materials. 501(c)(3) The section of the tax code that defines nonprofit, charitable, tax-exempt organizations. 501(c)(3) organizations are further defined as public charities, private operating foundations, and private non-operating foundations. See also: operating foundation; private foundation; public charity. Annual report A voluntary report issued by a foundation or corporation that provides financial data and descriptions of its grantmaking activities. Annual reports vary in format from simple typewritten documents listing the year’s grants to detailed publications that provide substantial information about the grantmaker’s grantmaking programs. Assets The amount of capital or principal — money, stocks, bonds, real estate, or other resources — controlled by a foundation or corporate giving program. Generally, assets are invested and the resulting income is used to make grants. Beneficiary In philanthropic terms, the donee or grantee receiving funds from a foundation or corporate giving program is the beneficiary, although society may benefit as well. Capital support Funds provided for endowment purposes, buildings, construction, or equipment. Challenge grant A grant that is paid only if the donee organization is able to raise additional funds from other sources. Challenge grants […] Read more
Guest Post | GrantCraft: An Instructive Map to Grow Your Funder Knowledge
Following is a guest post from Jen Bokoff, Director of GrantCraft, a service of the Foundation Center in New York and the European Foundation Centre in Brussels. Follow her on Twitter at @grantcraft and @jenbo1. When I started work as a program officer at a small private foundation, I had my street smarts, book smarts, and experiences as my compass. There were articles here and there about fascinating trends in philanthropy, some meetings on special topics with other grantmakers in the region, and I followed some doers and shakers in the field on Twitter to hear their 140 character snippets of wise words. What I didn’t have, however, was a toolkit for how to be a thoughtful funder. I didn’t have a go-to resource, and therefore grappled with issues that arose in the course of our foundation’s work that were as simple as, “How do I say no?” and more strategically geared like, “Is our partnership with the government similar to that which other funders experience?” Over time, these questions were explored and answered with my team, but it would have been nice to also learn from the experience of other, more seasoned funders. If only I had known about GrantCraft. Read more