Dr. James Browne:

Maybe I should finish what I was saying and then I will come back to that. My point is that foundations need to be at arm's length from the university in order to deal with donors and also, very importantly, to provide reassurance to donors that the purpose for which their donation is intended is being realised. The foundation acts effectively as a guardian of the donor's funds. The donor gives funds to the foundation in anticipation of funding a certain project or certain activity. When the donor is satisfied that project is complete or that activity is under way, then the foundation, as guardian, releases those funds to the university. The university, of course, goes ahead with the project in the expectation of donor funds being released. That, to my mind, is best practice. That, in my experience, is best practice in foundations. That, to me, is why it is so important to separate the foundation from the university. I think that is the reality of what happens around the world where foundation and philanthropy is well developed. Philanthropy in Ireland is not well developed.