August 21, 2003
The Debate Over Foundation Payout Rules
To the Editor:
The furor over the provision of HR 7 that would exclude administrative expenses from the 5-percent payout calculation for private foundations has some interesting lessons, regardless of what side of the debate you are on.
Pablo Eisenberg and the folks at the National Committee for Responsive Philanthropy give voice to the concerns of many nonprofits regarding the dwindling revenue available for mission work while foundation endowments continue to grow (
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