April 23, 2009
An Unprecedented Challenge Gives Philanthropy a Chance to End Bad Habits
These are unprecedented times in philanthropy. The economic difficulties facing our country are beginning to overwhelm and strain nonprofit organizations in profound ways, at the very time when the endowments of foundations have eroded significantly.
This has, of course, stimulated important discussions about the share of assets foundations should give from their endowments each year, the importance of supporting advocacy, and many other ways that foundations can make a difference