The consultancy PriceWaterhouseCoopers (PwC) has put together a report with the Spanish Association of Foundations (AEF) to bring a global perspective to bear on the governance structure and operations of Spanish foundations’ boards of trustees.

Prior to writing the report, PwC and the AEF sent two surveys to over 500 of the foundations that are active in the AEF. One was directed at the foundations’ legal representatives, with questions about relevant and objective issues, and another to the trustees about key elements of the foundation’s governance, with questions about performance levels.

The report recognizes that governance is a necessary instrument if institutions are to be sustainable and inspire confidence among all their stakeholders. It also points out that for foundations, good governance is particularly important, because of the nature of their mission, their activities and their social repercussion.

In this spirit, using the results from the surveys, the report summarizes the key features and attributes of good governance in Spanish foundations, analyzing factors such as size and composition, organization and operations, transparency and information disclosure, as well as interaction with the governance bodies.

Finally, the report looks in some depth at the current situation and future outlook of foundations, listing the principal challenges and scopes of action that need to be tackled by trustees in the area of governance.