The Commonwealth Fund By-Laws

This document sets forth the rules governing the operations of the Commonwealth Fund Board of Directors, board committees, officers, and related matters.

The Commonwealth Fund Board of Directors’ Executive and Finance Committee helps the Fund’s Board oversee the activities and management of the Fund, structure Board meetings, serves as the Fund’s budget review and executive compensation committee, exercises oversight over key aspects of the Fund’s business, and provides the capacity for emergency action on behalf of the Board of Directors, within the limits prescribed by the Fund’s By-Laws and as set forth in the Charter. The Board of Directors may assign other duties to the Executive and Finance Committee from time to time as it deems appropriate and in the best interest of the Fund.

Code of Ethics and Conflict of Interest Policy (including Whistleblower Policy)

The Code of Ethics and Conflict of Interest Policy of The Commonwealth Fund sets forth standards and procedures that directors and staff should follow when they engage in Fund business or in activities that could reflect on the Fund. The Fund believes it should be held accountable for the use of the resources it is privileged to hold in trust, and to this end it sponsors evaluations of innovations and interventions it sponsors, external reviews of its programs, assessments of all of its grants, and periodic reviews of the Fund's overall strategy and performance.

The Fund’s impact depends only to a partial extent on its grantmaking. Its larger impact comes from the leadership role and qualities of its senior management and professional staff. As a value-added foundation, the Fund expects a high level of performance and professionalism from its staff, and promotes accountability by staff through annual reviews of staff performance.

The integrity of the Fund’s grantmaking processes is based on defined strategies for programs, annually reviewed program plans, professional vetting of proposals by multidisciplinary staff teams, final Board review for Board-level grants, final review by the Chairman for Intermediate Grant Fund awards, and by the President for Small Grants Fund awards.