2012 Q2 Board Book (Staff)

The June 13-14th, 2012 Board Meeting focused on approving significant new projects while continuing to develop the Foundation's strategic programs, enhance its internal systems, and build its reputation. The Foundation is committed to expanding access to education and financial services, particularly for disadvantaged youth in Africa, and emphasizes learning, evaluation, and strategic partnerships.

Key activities and initiatives in the second quarter include:

1) Significant Grant Approvals: The Foundation proposed $190.7 million in new grants in the second quarter, building on the $18.4 million committed in Q1. These included large commitments to a University Scholarship Program ($126 million), the African Leadership Academy ($6.6 million), Save the Children ($39.8 million), Samasource ($5.3 million), and Habitat for Humanity ($6.6 million).

2) Focus on Signature Programs: The Foundation continued to develop its signature programs, including a global university scholarship program, a microfinance capacity building program, and a workforce development program.

3) Advancing Youth Learning: A key focus was on expanding access to education, with the launch of the University Scholarship Program, which will support financially disadvantaged students through comprehensive scholarships, mentoring, and career counselling. The Foundation also approved projects with the African Leadership Academy and Save the Children, which aim to provide education and employment opportunities to disadvantaged youth.

4) Microfinance and Financial Inclusion: The Foundation continued to invest in microfinance, with a focus on building the capacity of microfinance institutions (MFIs) and expanding access to financial services. This includes projects with The Boulder Institute of Microfinance and the Center for Financial Inclusion. The Foundation also supported research and data collection in the microfinance sector.

5) Emphasis on Evaluation and Learning: The Foundation continued to implement a regular cycle of evaluations, including mid-course project reviews, thematic reviews, and board program updates. It also focused on disseminating major project reports and publications, including David Roodman’s book on microfinance.

6) Building Internal Capacity: The Foundation hired new staff in evaluation, finance, and program teams. It is also implementing a new IT system to improve data monitoring.

7) Reputation Building: The Foundation undertook a reputation audit to gather stakeholder feedback. It also participated in several global forums, and secured media profiles. The Foundation is also working on strengthening its relationships with partners.

Overall, the Foundation’s activities in the second quarter demonstrate its commitment to strategic grant-making, innovative programming, and a data-driven approach to achieving its goals, with a particular emphasis on improving the lives of young people in Africa through education and economic opportunity.