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The Gates Foundation on Tuesday said it will strengthen its governance and oversight policies after an independent review of its past interactions with late sex offender Jeffrey Epstein found no evidence that the foundation had paid the disgraced financier any money or that officials knew about his criminal activities.
"The work we do depends on integrity and earning and maintaining the trust of partners," said CEO Mark Suzman, who commissioned the report with the support of Chair Bill Gates and the foundation's independent board members, in a statement on Tuesday.
"That's why we welcome the findings of this external review and are moving forward with Board-approved actions to further strengthen how we vet partners, manage risk, and ensure accountability going forward," he added.
The foundation's governing board has unanimously approved a series of reforms based on recommendations from law firm WilmerHale, which was retained in March to review the foundation's past engagements with Epstein.
According to an executive summary released by the foundation, WilmerHale found no evidence that Epstein received payments from the foundation or that foundation officials participated in or were aware of his ongoing sex trafficking operations or other criminal conduct.
The review included more than 50 interviews with current and former employees and an examination of extensive written records and determined the foundation's primary interactions with Epstein between 2011 and 2014 centered on two matters.
The first involved a proposed donor-advised fund that would have pooled contributions from wealthy donors to support global public health initiatives.
The foundation said it abandoned the proposal after promised donors and philanthropic partners failed to materialize.
The second involved the International Peace Institute, a nonprofit organization Epstein introduced to Gates.
The foundation later awarded the institute a grant for polio eradication efforts after completing its standard internal review and due diligence process.
The board approved several changes aimed at strengthening governance, including a centralized vetting process for donor advisers, brokers, co-funders, and other third parties connected to the foundation through Gates, board members, or senior leadership.
The foundation also said it plans to establish a formal process for escalating organization and reputation risks associated with projects introduced by Gates, board members, or executive leaders.
Under the new policy, the CEO will have authority to approve such engagements or refer them to the full board for a final decision.
Additional measures include clarifying the authority of employees who hold dual roles with the foundation and organizations associated with Gates, expanding conflict-of-interest policies, and strengthening procedures governing access to and disclosure of sensitive internal records.
Gates said the review was "an important step" in providing clarity for employees, partners, and grantees while reinforcing oversight through new policies.
"The work the foundation does to save lives and unlock opportunities so people everywhere can lead healthier, more productive lives is more important than ever," Gates said. "We are committed to ensuring trust and transparency are never compromised."
Board member Tom Tierney said the review "prompted hard questions, and we got straight answers," adding that the foundation will now focus on implementing the board's recommendations.
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