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UNITED BY IDEALS
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The extent and success of the Foundation’s efforts over
the past 33 years can be attributed to wise leadership
and effective management. It is the Board of Trustees
that steers the Foundation but HH Prince Bandar bin
Saud bin Khalid, Deputy Managing Director of King Faisal
Foundation and a grandson of the late King Faisal, ensures
that the objectives are achieved on a day-to-day basis.
His vertical management approach emphasizes teamwork
and ensures that more and better ideas are brought to
life. Experience has taught Prince Bandar that the best
results always emerge from more than one mind.
The best results require the best possible team. Efficient
staff supports professional managers. Prince Bandar
places full trust in his qualified advisers and refrains
from interfering in their areas of expertise. Although
final decisions are the sole responsibility of Prince
Bandar, he is confident that the expert input of his
managerial team puts him in a better position to make
good decisions.
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Finance Department
The Foundation’s Finance Department maintains
complete records of fixed assets and cash flow as well
as liquidated assets, portfolio, cash, real estate investments,
and revenues. The cash flow for the investment and philanthropic
projects as well as expenditures for all the departments
within the Foundation is prepared by the Finance Department
in accordance with the budget approved by the Board
of Trustees and General Assembly of the King Faisal
Foundation.
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Investment Department
The primary objective of the Investment Department
is to identify and study investment opportunities that can help
to support the Foundation’s philanthropic projects. This includes
developing and evaluating feasibility studies for new ventures
as well as negotiating with third parties where necessary. In
addition to having a good financial return, potential investments
must be Islamically acceptable. Where possible they should also
benefit the community.
Asset Department
The Asset Department manages, preserves, and creates
value for the Foundation’s holdings. The department focuses
on marketing Foundation property, managing the facilities, and
financial management. Annual business plans and monthly and
quarterly reports are prepared and reviewed with Foundation
management. The department is then responsible for the successful
implementation of these plans during the course of the year.
Programmes and Disbursements
It is this department which approves the Foundation’s
philanthropic grants. Officials study the feasibility of the
many requests for aid and select the most suitable candidates.
Except in emergencies, spending is limited to the support of
projects and grants rather than donations. In 2001 nearly SR1.3
million was spent on post-graduate scholarships and assistance
to various communities. A total of 2.54 million is budgeted
for 2002.
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Administration and human resources
The Administration Department handles the myriad
of day-to-day routine but vital functions which keep
the Foundation running smoothly. Looking after the needs
of 225 employees and countless visitors involves such
duties as attending to visa formalities and residency
documents, staff contracts and termination papers, vacation
approval, and sending and distributing mail.
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Public Relations
The Foundation’s Public Relations Department serves as
the source of Foundation information for release in-Kingdom and
abroad and helps to coordinate Foundation events. Publications for
King Faisal Foundation and King Faisal International Prize are issued
by the Public Relations Department. Increasing awareness about King
Faisal Foundation and its many activities not only results in an
increase in important donations but also brings the message to people
in need that this large-scale philanthropic organization may be
able to help them.. |
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Engineering Department
In order to professionally administer the extensive
Alfaisaliah project, the Engineering Department was
formed in 1993. The department’s responsibilities have
included the organization of a design competition for
the Alfaisaliah project a thorough prequalification
exercise, administration of the tendering process, and
management of construction.
Information Technology Department
In response to the need to keep pace with rapid
developments in technology, a sophisticated Information
Technology department was established to provide top-of-the-line
IT-related services to the Foundation family.
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HH Prince Bandar bin Saud bin Khalid
Al Saud,
second from left, relies on a team of specialized advisers to assist
him running the Foundation.
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