UNITED BY IDEALS
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.
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.
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.
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.
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.
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..
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.
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.