You might as well hide it under the bed...

Sheila Fraser issued a report today about the lack of accounatability in non-government grant-giving foundations and how, although the government's given about $9 billion to these foundations, $7.7 billion remain in bank accounts. Accountability to me seems a minor problem as long as SOMEONE does an audit on the foundation's annual reports to make sure each cent is where it should be.

One question I have is whether the money isn't being spent because the $7 billion is the principal used to generate the interest (which becomes the grant itself), so that the grants are available in perpetuity? If not then, what the hell are they doing with the cash? My Urban Planning school in particular's definitely strapped for cash and could use a couple dollars to hire profs for research/teaching and to expand the computer lab. I'm sure there are many labs and departments across the country who are in the same situation.

One possibility is that there isn't enough good research out there to warrant giving out that money. In which case, we've a bigger, more systemic problem of not producing good researchers. Though, I highly much doubt that.

As for value-for-money auditing, that seems ripe for politicking when we start asking who decides which research has value (besides the experts who sits on the foundations. And if that's not the case, my argument fails). I'm also concerned if the foundations do start doling out cash, some will invariably criticize these organizations for spending it frivolously on 'needless' research, which relates to my previous point.

One solution would be to make the grants bigger or make the applications easier. I know many profs who finish applying for one grant only to start on another application. Now, it would seem to me that this time could be better spent doing research. Providing bigger grants for longer periods of time would probably help that situation.

'til then, I'll be joining the line-up of students and professors killing many trees as we fill out forms in triplicate for the money available now...Joy.