This week at Fund the People, we are in conversation with another major foundation that is striving to do their part to smash the overhead myth!
In this episode, you’ll get an insider’s view of The Annie E. Casey Foundation’s journey to end the nonprofit starvation cycle by contributing more fully and equitably to the real costs of grantee organizations. Our guest is Katie Tetrault, the Foundation’s Vice President of Finance and Grants Management.
You’ll learn how and why the Foundation recently changed from paying only 10% toward “indirect costs” on project and program grants, and why they created a three-tiered policy that now pays up to 25%.
This is the third installment of Smashing the Overhead Myth Once and for All, our special series of occasional episodes throughout Season 4! You can find the whole series of episodes in this Spotify playlist.
- The Annie E. Casey Foundation website
- The Casey Foundation's Journey Toward Equitable Grant Making blog post
- Children and Family Fellowship program
- Center for Effective Philanthropy Grantee and Applicant Perception Report
- Project Grants Still Need Not Be the Enemy: An Equity-Oriented Update One Year Later
- Smashing the Overhead Myth special series podcast playlist on Spotify
- Katie Tetrault on LinkedIn
As vice president, Katie Tetrault manages all accounting, financial and grant-making operations at the Foundation. This work includes general ledger accounting and reporting; grants accounting, management and information systems; investment accounting; tax and regulatory affairs; and payroll and accounts payable. She also oversees financial compliance across the foundation; preparation of Casey’s annual budget; and implementation of policy, procedures and staff training related to all of these issues.
Tetrault previously served as the director of finance and grants management. She joined the Foundation in 2010, first as manager of financial reporting and compliance and then as controller. In this role, she helped implement a new online expense reporting system and worked to streamline operations and use technology more efficiently.
Previously, she worked at the national accounting firm Grant Thornton LLP for ten years, starting as an intern and rising to senior manager working in the firm’s national office to provide a variety of services for SEC companies. Tetrault received a Bachelor of Science degree in accounting from North Carolina State University and a Master’s in Business Administration/finance from Loyola University.