Donor Strategy

Donor Rules Followed, Funds Misused: The Illusion of Compliance

Donor Rules Followed, Funds Misused: The Illusion of Compliance

Pholus Advisory | 08/27/2025
In complex operating environments, compliance can become a performance. Financial reports are submitted on time. Procurement procedures are formally documented. Spending appears aligned with approved budgets. And yet—funds go missing, services fall short, and outcomes deteriorate. When donor rules are followed but money is still misused, the problem is not…
How to Spot Founders Who Only Pretend to Align with Donor Priorities

How to Spot Founders Who Only Pretend to Align with Donor Priorities

Pholus Advisory | 02/16/2025
Donor priorities—whether tied to governance, inclusion, sustainability, or transparency—are not just ideals. They shape how funding is allocated, how outcomes are measured, and how partnerships are judged. Yet in many settings, especially in fragile or transitional environments, some founders learn to mimic these priorities without embracing them. They speak the…
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