The Packard Humanities Institute (PHI) was established in 1987 to create tools for basic research in the Humanities and to foster public interest in the history, literature, and music of the past. Before PHI existed, the David and Lucile Packard Foundation made grants to support some of these same activities. Since its founding, PHI has been an operating rather than a grant-making foundation. PHI has undertaken a small number of projects, all of which have involved long-term financial commitments and professional partnerships with teams of scholars at major universities (including Yale, Princeton, Duke, Cornell, and Michigan). Most PHI projects have been expected to last for a decade or more. Our professional staff participates directly as an active partner in these projects and does not spend its time evaluating a constant stream of outside proposals. In fact, PHI has never accepted outside proposals.