2009 Q2 Board Book (Staff)

The June 9-10, 2009 Board Meeting, documents the Foundation's activities, strategies, and grantmaking in mid-2009, focusing on its twin pillars of microfinance and youth education. This meeting also addressed a newly discovered US tax issue.

To develop youth education, the Foundation is working with Rockefeller Philanthropy Advisors (RPA) to identify strategic opportunities. RPA's research indicates a significant need to support youth aged 15-25 with quality education and skills training. The Foundation intends to invest in this demographic, recognizing the potential for high impact. RPA also proposes a strategic framework to guide future investments in youth education.

The Foundation aims to expand access to microfinance, with a particular focus on youth and Sub-Saharan Africa. Key initiatives include supporting organizations such as the SEEP Network, Microfinance Opportunities, and Women’s World Banking (WWB). The Foundation is also investing in leadership development within the microfinance sector through a partnership with WWB to create a global leadership program. The Foundation also seeks to promote knowledge exchange via the Canadian Microfinance Forum.

Other strategic priorities include the development of a new web platform for the Microfinance Information Exchange (MIX). The Foundation is also addressing internal matters such as its investment policy, internal controls, and audited financial statements. The Foundation's investment portfolio was repositioned to meet cash flow requirements until May 2010.

The Board Meeting also discussed financial matters, including the investment portfolio's performance and the approval of audited financial statements. The Foundation is also reviewing its internal control policies.