Create and align with your board

Regardless of whether you set up your own foundation or choose to outsource that task, you’ll need a Board of Directors or other governing body that oversees your start-up efforts and guides the growth, sustainability and impact during it’s existence. This board will need to do the following:

• Make sure the organization follows federal and state requirements
• Uphold the bylaws and policies of the foundation
• Oversee grant approvals beyond staff discretionary level
• Supervise the staff 

Set up your board

Look for board members that make sense for your foundation's mission and be sure to include people who will provide benefit to the foundation. For example, if you want to focus on education, have a teacher on your board.

To find out more about the role of foundation boards, go to Council on Foundation's website.

Align your board and executive team

To be successful, your foundation will need the engagement and full support of both your board and your executive team. If your company is funded by venture capital, you’ll also need the buy-in of the venture capital firm.

You can use the sample documents below to help build that alignment. Work with your attorneys to make sure the documents comply with your company policies and then modify them to make them your own.

• Kick-off deck
• Board resolution
• Board member agreement
• Warrant transfer
• Industry benchmarking document
• Bylaws