Most family foundations observe high ethical standards in handling charitable legacies, says a survey by the National Center for Family Philanthropy.
More than six in 10 family foundations surveyed say donor values are important in guiding their decisions, and over half keep a written statement of donors’ intentions.
More than nine in 10 family foundations report good board member participation in discussions and say board meetings have productive outcomes.
The majority of foundations report the family members associated with their organizations work well together and arrive at decisions collectively.
However, only about half the responding foundations say they have a written conflict-of-interest policy, and fewer than half have clear staff evaluation procedures.
Only about one in four foundations report having a defined vision for the future.
The survey’s key findings were presented at a national symposium on family philanthropy in Washington, D.C.