Clemens Striebing examines the examples of transparency and multistakeholder governance to highlight the conditions under which foundations are accountable to the community for their activities and how effective these instruments are in practice. The author discusses the accountability issues faced by foundations as well as their organizational sociological context. The work demonstrates that foundation managers and founders make a significant difference: their normative considerations and institutional logics are more decisive for providing voluntary accountability than a strategic calculation, such as to attract more donations or to position the foundation.