Foundations Must Meet the Era's Challenges

Washington's consuming focus on fighting terrorism will radically reshape federal and state priorities and the budgets that translate them into reality. For foundations and charities, these changes will be jarring, unpleasant, and far-reaching. Beginning next year -- and perhaps sooner -- the red ink of government will color everything we do.

The finances of the entire foundation world have now been shaken twice, by the terrorist attacks and by the country's slide toward

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