In general, foundations in this chapter have attempted to build effective boards and staff, plan strategically for growth and develop good financial management systems. The chapter attempts to mine some of their experiences. Boards play a key role in directing the affairs of foundations and establishing their policies. These policies vary depending on the mission and goals of the foundation. Many boards form committeesin order to oversee different aspects such as finances, grantmaking, planning and endowment management.
Boards rely to differing extents on professional staff to take on management tasks.
Even with a well-qualified staff and Board, foundations should have strategic plans that will guide the different players towards the final goal effectively and efficiently.