Wachovia Regional Foundation
A Successful Collaboration to Refine a Foundation's Strategic Plan
The Wachovia Regional Foundation (WRF) is intensely focused on seizing the opportunity they have to make a difference. As such, its leaders recognize the value of periodically revisiting its strategy and the need for data as part of that process. So when it came time in 2007 to refresh its five-year-old strategy, WRF brought in TCC Group for consulting advice and the Center for Effective Philanthropy (CEP) to provide diagnostic information for the process.
TCC had helped WRF develop its strategic plan in 2002 and, though the approach had been working well, WRF was eager to determine where it could further develop and strengthen its programs to achieve even greater impact in the coming years. Denise Armbrister, Executive Director at WRF, says "Although we had seen some preliminary evidence of success through the implementation of our strategy, we wanted to be sure that we were on track to meet our projected outputs and outcomes and in the short and long run."
Since its inception in 1998, WRF has awarded over $52.2 million grant dollars to community-based organizations in a 62 county-regions in Eastern Pennsylvania, New Jersey, and Delaware. Its focus is to provide communities with the resources to develop plans that will improve the quality of life for their residents. The Foundation's strategy is to concentrate its resources on the creation and implementation of resident-driven neighborhood plans. These programs run the gamut from helping families purchase homes, to developing new businesses, to creating green spaces that beautify neighborhoods.
The staff and Board at WRF knew that candid feedback from their key internal and external stakeholders would be an essential component in the process to refine their strategic approach. Armbrister adds "We are both a learning and a philanthropic organization. Unbiased feedback from our partners provided us with a clear perception of the Foundation's performance and highlighted key areas in which we could improve our operations and the outcomes of our grant-making." For that reason WRF asked CEP to survey its grantees, while TCC interviewed WRF's board and staff and external stakeholders such as community leaders. TCC also did benchmarking research and reviewed WRF's processes and systems.
TCC's interviews and research determined that WRF was seen as a leader and best-practice foundation in comparison to its peers by its stakeholders. And, as an example of its best-practice approach, the foundation was constantly striving to improve its programs and increase its impact in the community, as evidenced by its efforts to reach out to stakeholders and assess its programs and processes critically.
The Grantee Perception Report (GPR) administered by CEP found that WRF is viewed very positively by its grantees -- often above the 75th percentile among all foundations on key dimensions of effectiveness (such as impact on grantees' fields), clarity and consistency of communications, and provision of assistance beyond the grant. And, while grantees found the application process more time-consuming than typical, they rate the Foundation's application and reporting processes as more helpful in strengthening their organizations or programs than those of many other funders. "Stakeholder feedback and input is such a critical component of strategic planning; CEP's ability to provide the perspective of the grantees on key issues and on a comparative basis added a strong element to the planning process," said Tom Knowlton, TCC Group Vice President.
The combined efforts of TCC and CEP resulted in a comprehensive assessment that led to specific recommendations on the Foundation's mission, programs, governance, leadership, and grantmaking processes and systems. For example, in addition to putting more focus on its role as a convener/collaborator on behalf of its grantees and community development funders, WRF was also advised to develop grant policies and processes that would be more efficient for grantees, thus freeing them to focus on making an impact in the community.
"It's always gratifying to work with a partner like TCC and a funder like WRF who really understand the value of timely, data-based reflection on what's working well and what can still be better," said Kevin Bolduc, CEP's Vice President - Assessment Tools. "We were happy to help channel grantees' voices into this refined strategy that we know will continue to guide WRF in the coming years."
