June 12, 2003

Study: Foundations Shortchanging Charities

By Ian Wilhelm

If a legislative proposal to increase foundation grant making had been in effect in 2001, it would have generated more than $4-billion more for charity, according to an analysis by the National Committee for Responsive Philanthropy, a watchdog group that supports the legislation.

Under current law, grant makers must put at least 5 percent of their assets annually into grants and other charitable activities. To meet that requirement, foundations may include rent, travel costs,

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