• Description

The Statement of Practices, designed to be a model of excellence for grantmakers, was prepared by the Minnesota Council on Foundations to illustrate specific practices that small family foundations might adopt in order to implement the eight Principles for Minnesota Grantmakers to which all members of the Council are being asked to subscribe. The Principles are broad statements of responsibilities implied by both the public trust vested in grantmakers and the high ethical standards to which the Council is committed. This Statement of Practices helps translate those responsibilities into workable day-to-day procedures by providing benchmarks which family foundations can use to evaluate current practices, determine areas for change, and formulate their own statements of practices.