Family Foundations

"Family foundation" is not a legal term and therefore has no precise definition. Yet, approximately two-thirds of the estimated 44,000 private foundations in the United States are believed to be family managed.

The Council on Foundations defines a family foundation as a foundation whose funds are derived from members of a single family. At least one family member must continue to serve as an officer or board member, and they or their relatives play a significant role in governing and/or managing the foundation throughout its life. Most family foundations are run by family members who serve as trustees or directors on a voluntary basis, receiving no compensation. In many cases, second- and third-generation descendants of the original donors manage the foundation. Most family foundations concentrate their giving locally, in their communities.

Family foundations represent approximately one-third of the membership of the Council of New Jersey Grantmakers. Each month, CNJG members have the opportunity to participate interactive teleconferences featuring presentations and Q&A sessions with nationally recognized experts in different areas of family philanthropy. Presented in partnership with the National Center for Family Philanthropy, these teleconferences take place from noon to 1:30 p.m. on the second Thursday of each month.

Read more about the Family Philanthropy Knowledge Center and Teleconference Series