What does an executive officer in a foundation do?
Asked by Jay Sean
I mean, a foundation which all it does is fund other organizations. For instance, the Bill and Melinda Gates foundation (which primarily funds other organizations). I heard that Jeffrey Raikes will be paid a nice chunk of change to be the executive director, but what does he really do?

Best Answer:
The type of foundation you are asking about doesn't need to raise money from other sources. The Gates Foundation has a large endowment which generates interest income. This money is used to operate the foundation and give grants. An executive director of a foundation like this one would have administrative and public relations duties. The person sets the tone and oversees the staff of the foundation. He/she is usually one of the spokespersons for the foundation and serves as the liaison with the board of directors. He/she also checks in on grant recipients to see that funds are being used properly. Finding good projects to fund with grant money is much more difficult than it may initially seem. Giving out grant money is viewed as an investment in other organizations. Grant makers want to be sure the funds are used wisely and according to the foundation's guidelines. Hope this helps. Good luck. P.S. The person who previously held the ED position at the Gates Foundation took a token salary ($1 per year, I think) because she had earned a considerable amount of money during her tenure at Microsoft.

Foundations are all about raising money. An executive with a foundation would be expected to be an excellent fund-raiser and a smooth and well-connected networker, and have first-rate contacts with corporations, other foundations, and wealthy individuals.
Answered by LeeCee