DO NOT check this box if you are using a public computer. User IDs potentially containing sensitive information will not be saved.
Sign on to Online Banking
Sign on to another service:
Managing Your Foundation as a Business
Giving and governing - how do you harness the strengths of your family and foundation?
In the excitement of initiating charitable work, do not overlook the importance of establishing good governance practices. Having processes and procedures in place for decision making and family participation, and confirming regulatory requirements are met, are essential for your foundation to effectively fulfill its mission.
Just as with a family business, family foundations must address both family and business dynamics. Sound governance practices help:
- Support continued family engagement - by setting a clear path to cultivate a next generation of leaders.
- Reduce the likelihood of family disputes - by setting guidelines for participation and giving voice to all family members in a manner that is acceptable.
- Prepare the next generation - for managing their wealth in the future. Younger family members can gain experience with investing, due diligence, and working with each other and advisors.
- Enforce compliance with regulations - by providing continuity, objectivity, and transparency. For example, just as with a business, a family foundation should have a strategic plan, annual budget, and an engaged board.
An organized and structured approach is essential to effectively manage your foundation, benefiting both family members and charitable beneficiaries. Although there is no one-size-fits-all approach to managing your family foundation, there are key governance best practices.
Download Full Article:
Important Legal Disclosures & Information
The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Center for Financial InsightSM to provide wealth planning education to individual clients through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC. Securities products, brokerage services, and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member of FINRA and SIPC. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”). Investment management and related products and services provided to a “municipal entity” or “obligated person” regarding “proceeds of municipal securities” (as such terms are defined in the Act) will be provided by PNC Capital Advisors, LLC, a wholly-owned subsidiary of PNC Bank and SEC registered investment adviser.
“PNC Center for Financial Insight” is a service mark of The PNC Financial Services Group, Inc.
Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.
Insurance: Not FDIC Insured. No Bank or Federal Government Guarantee. Not a Deposit. May Lose Value.
GET IN TOUCH
Banking on the Go
We have tools to help you bank when and where you want.Mobile Apps Directory »
Be part of our inclusive culture that strives for excellence and rewards talent.Visit PNC Careers »
The PNC Financial Services Group, Inc. All rights reserved.