John E. Craig
The Value-Added Foundation: Grantees' Views on the Fund's Performance, John E. Craig, Jr., The Commonwealth Fund, February 2003
Executive Vice President's Report from 2002 Annual Report
Foundations can be seen as adding value in four ways: (1) selecting the best grantees; (2) signaling the worth of particular projects and grantees to other funders; (3) improving and enhancing the work of grantees; and (4) advancing the state of knowledge and practice in the foundation's fields. Achieving the objective of adding value requires well-defined strategies: a foundation must choose fields in which it is particularly well equipped to add value; focus on those fields and avoid dilution of effort to peripheral areas; and learn to identify emerging issues and seize windows of opportunity.