Why do the grants made each year by the Avon Foundation not match the funds raised?
The new grants awarded within each calendar year do not necessarily match the total funds raised within that time frame due to the Avon Foundation grantmaking process, which includes many grants, commitments and payment schedules that cover multiple years. As a result of our multiyear focus and planning, our receipts and disbursements in any single year will rarely be equal, with some years having more receipts, like 2004, and other years having greater disbursements, like 2003. In addition, it is appropriate and a standard practice for foundations to hold some funds in reserve. It would not be prudent to “spend down” all income and leave none for unanticipated grantmaking opportunities. In all grantmaking and funds management, the Avon Foundation goal is to be prudent and effective, and use the Avon Walk funds raised in the best way to support access to care and finding a cure for breast cancer.
The new grants awarded within each calendar year do not necessarily match the total funds raised within that time frame due to the Avon Foundation grantmaking process, which includes many grants, commitments and payment schedules that cover multiple years. As a result of our multiyear focus and planning, our receipts and disbursements in any single year will rarely be equal, with some years having more receipts, like 2004, and other years having greater disbursements, like 2003. While the 2005 audit is not complete, preliminary financial reports show disbursements will significantly exceed income for last year, as an example. In addition, it is appropriate and a standard practice for foundations to hold some funds in reserve. It would not be prudent to “spend down” all income and leave none for unanticipated grantmaking opportunities. In all grantmaking and funds management, the Avon Foundation goal is to be prudent and effective, and use the Avon Walk funds raised in the best way to s
