In a past life in a large corporation, I was part of what we badly named.. The Project Steering Committee. (forget the name it was an internal project)
What we did was talk to clients and users of our Internet Based Medical Billing Application, and prioritize various upgrades, new features and even entire modules weighing the number of times/people who had requested it, gathered quick estimates from developers for man hours and came up with real data for the development team to use in selecting which upgrades would be the biggest bang for the buck, so to speak.
So that is one way a foundation could operate, especially if funding and development resources were available.
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