This report follows the journey of one foundation from its inception to the present day. It highlights the work of an effective funder, and shares lessons that can be applied to funding more widely. The Stone Family Foundation is an example of how a relatively new and mid-sized foundation has looked to scale up and develop how it works and what it funds. The lessons learned from implementing the major grants program influenced the shape of its subsequent WASH funding. While this exact journey may be specific to the Stone Family Foundation, the general process — starting out, planning, delivering, learning and then adapting — will be relevant to other funders grappling with the same questions about how to become an effective funder.