Against this background, let me start with the contribution of foundations. As you well know, foundations fulfill a unique and important role within civil society. And now is a particularly opportune time for fulfilling that role. During the 1990s, we have experienced an historic convergence of views about the role of the state and the need for the public sector to engage civil society in designing, implementing and evaluating development policies. Such engagement is particularly important at the local government and community levels where participation is so critical in ensuring successful outcomes.
Foundations have a comparative advantage in working with community-based organizations.
Foundations are able to fulfill this special role in civil society because of the unique combination of independence, innovation, and altruism that they embody. They have the financial independence and ability to support a program because they believe in it. They are altruistic - by definition. Foundations are financially powerful - and generous with their financial resources. This is larger than the assets of the number one company on the Fortune 500 list.