Consulting Services

Foundation Family Startup Services


Forming a family foundation can be the most significant legacy you can provide for future generations of your family. It will allow your family to work together in philanthropy and enhance the direction and quality of life in your community. Foundation Management, Inc. offers expertise, experience, and services that exceed those available in standard financial institutions and other foundation management companies. Our management and administrative services encompass a broad range of charitable organizational models that enable families to experience the joys of working together to achieve their philanthropic goals.


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    General Office Administrative and Support Services

    We offer a full range of services for our customers which include phone service, mail, meeting minutes, government compliance, meeting planning and any other administrative services they might need.

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    Accounting

    The accounting department at FMI has more than 60 years of experience working with nonprofit and for profit organizations. We can create specialized accounting plans for your private foundation as well as spending policies and budgets for each.

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    Grants Management and Administration

    We will work with you to develop and implement a grant-making plan, using traditional or web-based programs.

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    Meetings Management

    We manage several boards for individual private foundations. We create board books, send meeting reminders, assist the chairs with setting agendas, record minutes and create specialized financial and grant reports.

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    Board Retreats

    We are available to facilitate two retreats and assist in further development of their policies and procedures.

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    Compliance

    FMI keeps up to date on new rules and regulations facing private foundations, community foundations and nonprofit organizations through membership in several national organizations. Our CPA, who is also our compliance officer, ensures all our clients are in full compliance will all rules and regulations.

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    Risk Management and Insurance

    We work with each of our clients to assess their risks and bring insurance options for them to consider.

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    Strategic, Business, and Long-Range Planning

    We will help create all plans needed for our clients’ future success.

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    Reports

    Working with each client, we develop individual reports to meet all their needs.

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    Financial Statements and Taxes

    Our accounting department will reconcile the monthly bank statements, investments statements and other pertinent financial records. Our accounting department will also work with an outside accounting firm in the filing of the 990PF.

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    Budgets

    With each accounting statement, a projected minimum distribution calculation to assist in budgeting future grants.


Succession Planning Services


FMI is well equipped to assist family foundations and other charitable organizations successfully transition leadership roles to future generations. It is important to identify and develop trustees who firmly believe in the vision and mission of your organization. Frank Merrick has the practical knowledge of family interactions and the perspective to assist your organization in continuing the legacy of its founders.



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    Intra-generational training for trusteeship

    Intra-generational training for trusteeship

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    Trustee policy development

    Trustee policy development

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    Facilitation of a meaningful hand-off between generations

    Facilitation of a meaningful hand-off between generations