In today's nonprofit environment, where government funding cutbacks and other factors appear to have changed the field for the long haul, a growing number of grantmakers are reevaluating their missions and goals to make the most of their grantmaking dollars. What is often less understood is why a grantmaker decided to revisit its priorities in the first place, and what it hopes to accomplish from the effort. One thing most processes have in common is that they are driven by a foundation's board, and often involve staff as well. That was a goal Karl Stauber had in mind for Northwest Area Foundation from the first day he took over as president in June 1996. The foundation has spent the last year examining its mission and strategies.
Foundations have many other reasons for revisiting their funding priorities.
As with many other types of organizations, some foundations simply make it a habit to periodically review their missions, goals and focus areas. An increase in a foundation's endowment can also prompt some grantmakers to make sure they're spending their dollars as wisely as possible. For corporate grantmakers, a common motivation today for reevaluating their funding strategies is a desire to give in ways that are better aligned with their business strategies. And a company's employees can often add more value to nonprofit grantees working in the same areas as they are. Such was the case recently for Medtronic, Inc., a Fridley-based worldwide medical technology company specializing in implantable and interventional therapies.