Critic of Report on Philanthropy's Value Got Facts Wrong

To the Editor:

Leslie Lenkowsky's comments on our study merit a response ("In Philanthropy, It's Not Just About the Numbers," Opinion, January 29). We respect his concerns, but his criticisms generally seem to reflect a hasty reading or a misunderstanding of economic analysis.

His first argument is that "philanthropy's value goes far beyond its social and economic benefits, and its defenders ought to be more forthright about

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