Darren Walker, President of the Ford Foundation, argues:
- We need more integration. Thus, we’re breaking down silos so that program officers join interdisciplinary teams with flexible assignments
- We will be pushing a more coherent and interconnected grant-making program – one that seeks to do fewer things better, rather than more at less than our best.
- All of us in the nonprofit ecosystem are party to a charade with terrible consequences—what we might call the “overhead fiction.” Foundations, governments, and donors force nonprofits to submit proposals that do not include the actual costs of the projects. We will double our overhead rate on project grants to 20 percent. We hope to encourage more honest dialogue about the actual operating costs of nonprofit organizations working in the US and internationally.
- I no longer find it defensible to say that our investment strategy is only to maximize the value of our endowment—just as it’s no longer defensible for a corporation to say its only responsibility is to maximize shareholder value. There is growing evidence that it is possible to find impact investing opportunities that deliver financial and social, double bottom-line returns.
Source: Ford Foundation