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Abstract: 

Mission statements are a fundamentally important building block of a family foundation’s strategic framework and deserve more attention. Further, the process of developing a family foundation mission statement must be dramatically different than the process used for other foundations or nonprofit organizations. Many techniques are available to develop a mission statement, and a board of directors should consider the benefits of each process before engaging in this fundamentally important exercise. This article addresses how a good mission statement can help preserve the legacy and vision of a founding philanthropist, and suggests some options for how family foundations can develop better mission statements.

Keywords: Grantmaking focus; donor intent; broad vs. specific purpose missions

Affiliations:  1: Neithercut Philanthropy Advisors.