The Hewlett Foundation has released its 2005 Annual Report, which includes the Foundation’s financial statements and information about its grantmaking activities in each program area. In 2005, the Hewlett Foundation disbursed $318,538,000 in grant and gift payments. The 2005 Annual Report also includes an essay by Hewlett Foundation President Paul Brest that explores the role of collaboration in effective grantmaking: When is collaboration helpful, and when does it cause more problems than it solves?

To view or download the 2005 Hewlett Foundation Annual Report, go to:

http://www.hewlett.org/AboutUs/AnnualReports/2005annualreport.htm