Benefactory - Philanthropic Advisors
Benefactory - Philanthropic Advisors
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Mally Cox-Chapman
Known nationally for her work in philanthropy, Mally Cox-Chapman takes an individual approach to advising clients.
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Private Foundations and Charitable Trusts

Effective family philanthropy comes out of careful planning, good governance, meticulous administration, and sound advice. Our services cover all four. In all instances, your advisor will be gauging which aspects of the work you and your family want to do yourselves, and which aspects you want to off load. The goal is to make the work engaging and joyful, not onerous.

Starting the foundation

There comes a great moment when the money has been dedicated, the legal papers have been signed, and an individual or family affirms the desire to do good in the world.  But now what? Starting a foundation involves planning, visioning and education on trusteeship.  Your Benefactory advisor can help with mission and guidelines, direct versus foundation giving, and the key first lessons of trusteeship. The work, planning, and policy setting you do with your advisor at the beginning will pay off for years to come

Administration

Benefactory does not do the administrative work of your philanthropy. We believe it is accomplished more efficiently by someone on the home team.  However, your Benefactory advisor will work with the family member or staff who will be responsible for the paper trail of the foundation, guiding them through the process of setting up systems and keeping accounts. This includes, but is not limited to:
  • Preparing information needed for tax returns and other filings
  • Developing and monitoring grantmaking budgets
  • Handling custodial account transactions and making foundation payments for grants
  • Insuring that correspondence with grantees is handled in a timely manner
  • Creating a timeline of responsibilities

Governance Guidance for Family Foundations

Effective philanthropy grows out of clear vision, focused objectives and well-conceived programs.  Your Benefactory advisor is willing to ask the hard questions and help you stay on task. She also has a wide range of experience in creative ways to give away money to create impact in your community. As in planning and governance, the goal is always to give the client the tasks that are meaningful and pleasurable, and off load the rest. Family members may or may not know the nuts and bolts of trusteeship. Some may be eager to learn the skills of managing a family foundation; others may want to simply show up for meetings. Your Benefactory advisor takes trustee education as high priority. We have developed low-risk, even fun ways to teach trustees both their legal and financial responsibilities. Issues covered include:

  • Site visits
  • How to avoid self-dealing
  • Planning and facilitating board meetings
  • Managing committees
  • Succession issues
  • Training new board members and new leadership
  • Ongoing training in best practices of foundation management





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