2008 Q2 Board Book (Staff)

The May 28, 2008, Board Meeting focused on reviewing financial performance, operational policies, and strategic initiatives to enhance the Foundation’s impact. The meeting began with an executive session to approve prior meeting minutes, financial statements, and key policy updates. Highlights included the review and approval of the 2007 audit, adjustments to the disbursement quota, and the CFO's authorization to manage CEO expenses.

The President's Report emphasized staffing enhancements, improved grant-making processes, and advancements in communication strategies. Discussions also revolved around microfinance priorities, including new grants and their alignment with the Foundation's mission of financial inclusion and educational access.

Key resolutions included delegating authority to approve grants under $100,000, adopting the CFO as an officer, and leasing additional office space. Updates were provided on significant philanthropic initiatives, including the expansion of microfinance programs and the Scholars Program. The Board approved grants to six international institutions supporting capacity building and financial education.

The infrastructure update highlighted the progress in human resources, grant administration, and communication strategies to solidify the Foundation’s operational efficiency. Grant evaluations and expansion plans, particularly for programs in Uganda, underscored the Foundation's commitment to scaling its impact.

The session concluded with the approval of resolutions regarding operational policies and strategies for broader philanthropic engagement. The meeting exemplified a forward-thinking approach to governance, with an emphasis on financial transparency, operational excellence, and strategic expansion of the Foundation's programs.