Is a Foundation Right for You?
Ever wondered if a foundation is the right move for your organization? Building off a recent exposé on athete-run foundations, Cone's own Social Impact expert, Erica Kendall, weighs in on why foundations fail and why they may not always be the best fit.
Recently, the Boston Globe critiqued the impact of many nonprofits run by professional athletes. Nearly half of the 50 professional athlete-operated nonprofits reviewed by the Globe spent less than 65% of revenues on charitable programs and donations. According to Charity Navigator, a leading independent charity evaluator, nonprofits spending less than a third of their budgets on program expenses are simply not living up to their missions.