2008 Q3 Board Book (Staff)

The September 16, 2008, Board Meeting focused on strategic decisions to advance the Foundation’s impact, particularly in microfinance and global philanthropy. The meeting opened with an executive session addressing board effectiveness, director terms, and recruitment. Administrative topics included approval of prior meeting minutes, updates on portfolio and MasterCard stock performance, the 2008 disbursement quota, and an updated budget.

Key highlights included microfinance discussions, with a significant emphasis on a $19.6 million grant to BRAC Uganda for expanding their "microfinance multiplied" model. This initiative aims to enhance poverty alleviation through holistic interventions, including financial services, vocational training, and youth education. BRAC representatives presented on their progress and goals, underscoring their leadership in microfinance and development.

The President's Report emphasized new staffing, improvements in grantmaking infrastructure, and a strategic communications plan to strengthen the Foundation’s global reputation. Updates on ongoing initiatives like the Scholars Program, microfinance grants, and youth-focused projects demonstrated alignment with the Foundation’s goals of expanding access to financial services and education.

Discussions also explored the Foundation’s position on supporting networks like CGAP and strategies for leveraging partnerships to increase impact. Resolutions included finalizing operational policies, approving grants, and adopting measures to improve governance and transparency.

The meeting concluded with a forward-looking discussion on the Foundation’s reputation, focusing on its vision for the next decade. This input will inform the development of a comprehensive communications plan to elevate the Foundation's global profile and articulate its mission. The September session underscored the Foundation’s commitment to addressing poverty through innovative, scalable approaches while maintaining robust governance and operational excellence.