Philanthropy by Decree: Exploring the Governance and Philanthropic Strategies of Foundations of Banking Origins

This article investigates the relationship among nonprofit foundations’ choice of philanthropic strategy (expressive, receptive, proactive, and collaborative) and sound governance, as measured by board capital (competencies and networks), board processes (planning, control, evaluation, and so on), and chairman power (entrenchment and tenure). Using a sample of fifty-one Italian foundations of banking origins, this article shows that high levels of board capital, complete board processes, and chairman long tenure are positively associated with proactive and collaborative philanthropic strategies.