“Politics and Philanthropy – Policy and Partnership”

I listened to every word as Barack Obama delivered his inaugural address. Amidst the bitter cold wind, he sought to find warmth in our hearts. Among the challenges of present day, he held out hope. Nearing the end of his historic speech, one line of reality was followed by another of inspiration—setting the framework for his administration.

Recognizing the limits of the public sector he said, “For as much as government can do and must do, it is ultimately the faith and determination of the American people upon which this nation relies.”

Then, in closing he beckoned, “Let it be said by our children’s children that when we were tested we refused to let this journey end, we did not turn back, nor did we falter.”

During the transition leading up to the inauguration, I was struck by two key messages. First, Obama counseled everyone to recognize the magnitude of the economic challenge. Second, reflecting his pragmatism, he called for us to find new ideas and new solutions to enduring problems.

There rests the framework for a new era of public-philanthropic partnership. The realities of the economic crisis—both its length and its depth—will limit government’s ability to respond. Once the new, large economic stimulus program has been allocated, we’ll see new calls for philanthropy to help even more.

If charity supports survival, philanthropy promotes progress. And philanthropy will be defined not only by the length of our financial support, but by the innovation of our work. To achieve real change, we must combine our creativity and our convening ability with our financial commitments. Government needs more than money. It needs new ideas. It needs communities that come together in common strategy. And philanthropy is uniquely positioned to meet this challenge.

President Obama’s administration begins a new era. Never in my 22 years in politics, have I witnessed the active, sincere outreach of any government leader to philanthropy as we’ve seen with the Obama transition. This new administration’s knowledge of philanthropy’s potential and of government’s limits has caused the President to extend a hand our way in the hope that we might find new opportunities to bridge the politics of the past as we create a public-philanthropic partnership for the future.

We should recognize the economic stimulus bill for what it is—a first step using existing programs to stimulate the economy. But the Obama era will be defined by something else—a longer-term public-philanthropic partnership. I am optimistic it will include tax policy geared to growing philanthropy in size, so we can grow in service. We’ll see new efforts to partner all of our resources—in funding, in ideas and innovation, and in our convening. We’ll see it in our domestic programs and our international assistance.

In a 2008 survey of our members, we were told the number one reason for belonging to the Council on Foundations rested with our work in the halls of government. And that was before we inaugurated a president who understands the power of a public-philanthropic partnership!

On December 3–4, 2008, the Council on Foundations, the Brookings Institution, and several generous sponsors, hosted MetroNation: Philanthropy’s Role in a Blueprint for American Prosperity. This forum brought together national leaders for an exchange of ideas and strategies framed by Brookings’ Blueprint for American Prosperity initiative.

Among the speakers was Valerie Jarrett, White House Senior Advisor and Assistant to the President for Intergovernmental Relations and Public Liaison. The following are highlights—and insights—of Jarrett’s remarks. To read specific grantmaker ideas and remarks, please refer to the “Overheard” column in Thought > Action > Impact.

“The Importance of Innovation”

According to Jarrett, the incoming president’s priorities include the economy, foreign policy, education, energy, and health care.

“In terms of innovation,” she said, “there are a lot of pent-up resources that are ready to be deployed. We need to reduce the time to scale and move much more quickly from R&D to implementation. For ‘green initiatives,’ the time is now to share with us the projects that philanthropy has funded and those that have benefited local communities.”

Jarrett’s goal is clear: She wants to help restructure the way resources are delivered to people, but also knows that she will need philanthropy’s help to make this possible.

“We would like to cut the red tape and be more efficient and effective and reduce duplication—keeping in mind checks and balances because we are taxpayer funded.”

“Foundations Need a ‘Partner’ in the White House”

Jarrett stated upfront that she is a “true friend and partner” and wants to work with the philanthropic sector. Her office, she said, will be the foundation and philanthropic community’s “gateway” to the federal government. Foundations will fall under the jurisdiction of the Intergovernmental Relations and Public Liaison office.

She has ambitious plans for the public liaison position and office, namely to help bridge the different disciplines. Jarrett views the White House as a vehicle that brings people together. However, while her office can’t answer or solve all issues, her aim is to engage state and local governments to partner with foundations.

Jarrett asked foundations to be the “eyes and ears” on the street and invited foundations to share their knowledge with the White House, which, she said, “will be a sponge.”

“Our Country is at a Defining Moment…and We Must Keep up the Momentum…”

When Valerie Jarrett uttered those words, she was referring to two things: The grassroots campaign that spread like wildfire and propelled Senator Barack Obama into the White House and the unprecedented economic crisis that’s befallen the nation—and the world.

“A crisis is a terrible thing to waste…from it comes creativity and innovation,” she told a roomful of grantmakers, urging them to continue their good work.

The Importance of Leverage”

Jarrett grew up on the South Side of Chicago and was influenced by her academic parents. Her grandfather, Robert Taylor, was the first black man to head the Chicago Housing Authority.

“He dedicated his life to public service, particularly within housing, which is where I also focused my efforts,” Jarrett said. (Prior to her new job in the White House, Jarrett was the president and CEO of the Habitat Company, a real estate development and management company.)

Jarrett currently serves on the board of the Chicago-based Joyce Foundation. In her previous jobs, she worked to bring together business leaders, government, and foundations on various initiatives.

One of her first experiences working with a foundation occurred in the early 1990s, when she was the Commissioner of the Department of Planning and Development in Chicago and she wanted to help revitalize the area around the University of Chicago.

“One part of the university was on the ’healthy’ side of town while the other wasn’t,” Jarrett said.

The John D. and Catherine T. MacArthur Foundation stepped in and provided the seed money for the project. The foundation’s expertise in funding community organizations was also a bonus.

“My office brought the university, philanthropic, and government players to the table to discuss policy and program work,” she said.

Jarrett believes that when these diverse sectors come together, “great things can be accomplished.” Simply put: She understands foundations and therefore, will need no “learning curve.”

“The President-elect believes very strongly in community organizing, where on the South Side of Chicago, he worked every day with people and saw ordinary people do extraordinary things. He understands the importance of enlisting the support of community organizing groups,” Jarrett said.

“Anything is Possible…”

On a personal note, Jarrett shared an exchange she recently had with her mother. Her mother asked her how she knew that Barack Obama could win the presidency. Her response was simple: “Because you raised me to believe that anything is possible. If you work hard and focus, good things will happen.”

For Jarrett’s mother who grew up in a country steeped in discrimination, Obama’s win was monumental. It sent a message that anything is possible.

And in the same vein, that was Jarrett’s message to foundations: There are enormous expectations for the Obama White House to accomplish great things. Foundations are invited to work and partner with the new administration to find innovative and efficient ways to reach that goal.

A New Era of Service and Innovation

By: Robert Egger

Across America, in cities big and small, urban and rural, elected officials are now making some, if not the most difficult decisions of their careers. Faced with alarmingly escalating deficits, and mandated by law to balance their budgets annually, lawmakers are feverishly looking for new sources of revenue to offset declining property taxes. Simultaneously, they are being forced to make deep cuts in services and programs that they know will affect their constituents in profound ways.

Yet, in far too many state houses and city halls, as well as in the nation’s capital, officials are considering measures that would increase the taxation of, or cut funding to, foundations and charities. Perhaps, they are not aware that these same programs and organizations provide some of the most reliable sources of revenue in every community.

Like millions of Americans, many legislators still view our country’s commercial engine through a bifurcated lens. They believe that for-profit businesses drive the economy and create wealth, while not-for-profit organizations simply make grants, collect donations, and provide services. However, in the last 20 years, as philanthropy has grown exponentially in America, we now have evidence that our country’s charities and foundations are actually driving the economies of many cities.

In a recent study for the Philanthropic Collaborative, noted economist Robert Shapiro produced a first-of-its-kind analysis of the economic impact of philanthropy in America. This study shatters the myth that tax deductions for foundations and charities represent lost revenue for cities. In fact, it conservatively suggests that these groups create a nine-to-one return on investments, well surpassing that of many blue-chip corporations.

According to this report, in 2007 alone, $43 billion in combined foundation grants produced $364 billion in direct economic benefit to local municipalities. But the impact did not stop there. These investments also added $500 billion in household income throughout the country. Considering that foundation giving represents only a small portion of the $300 billion annual revenue for charities in 2007, this report suggests that our country’s philanthropic community may very well hold the keys to future economic recovery.

This report could not have come at a more important time. As legislators scramble to identify untapped economic resources, the untaxed assets of our county’s nonprofits might seem an all-too-tempting target for short-sighted legislation.

For example, when decreasing property values have all but hamstrung local budgets, it might seem logical to pass legislation that would tax the property of institutions of faith or higher learning, or limit the ability of nonprofit groups to purchase additional lands. But tapping the resources of groups that train the unemployed, support the arts, create green jobs, or provide pre-K education for our children might actually stifle long-term economic opportunity. Similarly, as we enter into an era of significant transfers of wealth, do we really want to limit the opportunity for Americans to develop family foundations or donor-advised funds? Doing so could inhibit the kind of research and development experiments that many governments rely upon charities to provide, so that local governments can allocate future funding to efforts that will yield even greater returns.

This is not to say that we must accept philanthropy as it exists. In these lean economic times, all sectors of our community must be willing to sacrifice when needed, and evolve to meet new opportunities. That is why this report is so compelling, particularly to a new generation of business, government, and nonprofit leaders who seek a more synchronized approach to serving our community and strengthening our country.

As America begins to explore new technologies and tactics that will help us regain our footing in the new world economy, we must not adhere to outdated views about the roles of government, business, or philanthropy. Nor can we afford to view them as separate and unequal partners in this imperative process.

America is on the verge of a new era. We just inaugurated the first president whose first job was at a nonprofit organization. His visionary campaign called for a robust new era of service and economic innovation. Let us understand that the real opportunity for America lies in aligning these visions. And no group is more ready to contribute to the mission than America’s philanthropic community.

Robert Egger is the founder and president of DC Central Kitchen. Based in Washington, DC, the nonprofit organization recovers unused food, prepares and delivers meals to partner social service agencies, and trains and employs homeless men and women for the food service industry.

Positive Change in Trying Times

By: Terri Lee Freeman

It was the worst of times, it was the best of times.

Perhaps, when the current economic crisis is finally over, we’ll be able to look back and say that this inversion of Dickens’ famous words from A Tale of Two Cities rings true. Without question, both the philanthropic and charitable fields are suffering these days. But the optimist in me says that the ominous, dark clouds that hover over us today will eventually reveal their silver linings.

For now, though, the economic environment has reinforced that foundations are also nonprofits—and subject to the same forces that are creating havoc for charities. My own organization offers a good example. Donor-advised funds make up close to 96 percent of our assets. The fee income generated by these funds is what enables us to operate. Consequently, we live and die by new contributions.

So, if we play this out, any decrease in investment value, (brought on by a drop in the number of new contributions or interest rates paid on investments) will mean a decrease in our assets and operating income—at a time when the relevance and need for community foundations has never been greater.

Since the beginning of our fiscal year (April 1, 2008), our foundation’s assets have lost approximately 16 percent of their pre-recession value. That’s a loss of some $80 million. As you can imagine, this drop is discouraging in terms of our ability to support nonprofits. But perhaps even more, it has taken a psychological toll. Many people devoted a lot of years and very hard work to build our assets to their previous 35-year high of nearly $390 million.

Despite our current operating situation, we remain unwavering in our dedication to bringing about positive change in our community. And with so much at stake, we’ve moved quickly to ensure we can continue to address local needs. Internally, we’ve taken a number of steps, including halting all discretionary operating expenses. Further, we are taking every opportunity to demonstrate our leadership and commitment to our community by:

• using our trustees’ time and talents more effectively
• convening leaders from across sectors to address local issues
• leveraging unrestricted dollars with donor contributions

So, how are we doing this? Based on our discretionary grantmaking from previous initiatives, we will be able to support our partners direct services and long-term sustainability.

Second, we’ve helped create a multi-sector workgroup to address the current crisis and design a nonprofit sector that will be sustainable, innovative, and a true partner with the public and private sectors in the future.

In the end, any discouragement we may feel from our loss of assets is far surpassed by the knowledge that our foundation and our generous donors are making a tangible, positive difference in the lives of our nonprofits and our residents. Thus, the silver lining.

Out of this economic crisis will come incredible innovation. Outstanding new community leaders will emerge.

Yes, many nonprofits nationwide do, in fact, face closure. But those who work collectively with other nonprofits, capitalize on relationships they’ve developed over the years with their donors and foundation partners, and proactively develop new, smarter ways of doing business, will emerge stronger than before. The result will be a more efficient, effective, and sustainable nonprofit sector. Much the same, the philanthropic field will benefit, as it learns to make even more strategic investments, streamline the grantmaking process, and conduct more rigorous due diligence.

These difficult economic times can be a time of introspection, enabling us to see what’s truly important and the critical role our institutions play in communities. And when we look back on these difficult years, we’ll recognize just how much better off our communities truly are. And, collectively, we can take pride in our contribution to that improvement.

Terri Lee Freeman is president of the Washington, DC-based Community Foundation for the National Capital Region.

“The current economic downturn has spared no sector: including philanthropy. Congress knows that. As a result, I would expect the 111th Congress, working with the incoming Administration, to look for ways to ease the damage done. There are a number of good ideas already being considered and as a long-time advocate for and of philanthropy, I will continue to pursue solutions that work.”

- Dave Camp (R-MI), Ranking Member, House Ways and Means Committee

At the Forefront

“Historically, we tend to act ‘episodically’ to events—organizing forums or summits on an issue after an event occurs. There’s also very little follow up to gauge progress. The President and his team’s vision for the Office for Intergovernmental Relations and Public Liaison speaks to the power and importance of partnership and dialogue around substantive conversations. Foundations can now speak directly to the White House.”

- Andrew Plepler, President and CEO, Bank of America Foundation

Comment

Immigration Reform

“My hope is that the President continues that spirit of unity he brought to his campaign and makes issues like comprehensive immigration reform a priority. We need to respect immigrant workers. As it currently stands, we don’t have an immigrant—integration or assimilation—policy in the United States. What we need is the leadership at the federal government to do so.”

- Arturo Vargas, Trustee, Community Technology Foundation of California

Comment

Tax Incentives

“Instead of direct tax cuts (which may still get stowed away in a CD), why not provide even better tax treatment or credits for gifts to community foundation endowment funds? Individuals receiving the tax credit have more to spend, and if they don’t spend, we are still using their donations to build an endowment for the future. This will help us to grant more during difficult times and we will continue to invest more than half in equities, which is also a benefit. As in several states (unfortunately, not Illinois), the availability of credit is raising the visibility of endowments and community foundations for the betterment of the community.”

- Joanne Mitrenga, Director of Development, DuPage Community Foundation

Comment

It Starts with Education…

“I would ask that President Obama’s education team look at how they could motivate children starting in the second grade to learn to do their homework, keeping in mind five values—reading skills, study skills, order in their lives, discipline, and responsibility. If those values are internalized, we will have a great nation.”

- Reuben Harpole, Program Officer, Helen Bader Foundation

Comment

Revisiting the Anti-terrorism Guidelines

Foundations agree that the Treasury Department’s anti-terrorism guidelines are ambiguous and time–consuming. These guidelines affect both foundations and nonprofits: they require foundations to dedicate many staff hours and research to vetting nonprofits and conducting due diligence and place a significant compliance burden on nonprofits. The Council—as the leader of the Treasury Guidelines Working Group—will continue to engage with Treasury and with the new Administration to revisit the anti-terrorism guidelines, so that foundations have clear, reasonable measures and clear expectations.

- From a December 2008 Council conference call with international corporate grantmakers.

Comment

Harnessing American Values

I would tell President Obama to let the intellectual market do its work, and allow creative thinking, innovation, and quintessentially American entrepreneurialism to blossom in the political, economic, and social marketplace. Over the last decade, innovation has been stifled. Allowing a space for dynamic thinking across sectors, nations and generations will create the kind of world we all want—one based on equity, respect, and opportunity.

- Mary Galeti, Vice-chair, The Tecovas Foundation.

Comment

A Philanthropic Blueprint

“What can the new president do to support philanthropy, volunteering, and civil society overall? Three things: be a philanthropic leader, be modern, and be creative.

• Be a Philanthropic Leader: This presidential campaign benefited from more than $1 billion in political contributions….The new president should encourage giving to continue, only now to philanthropy so we I can create solutions and empower individuals and corporations to tackle [tough] issues.
• Be modern: Spearhead a national counterpart to the Clinton Global Initiative that brings together corporate and philanthropic leaders to address issues in the United States.
• Be creative: Embrace new civic engagement models for soon-to-retire baby boomers and prepare our country to reap the rewards of this activist generation. Creative thinking could include a new twist on AmeriCorps that allows scholarship dollars for a grandchild or a reverse GI bill to pay for second career training. Repayment could be made through service in industries with predicted labor shortages, such as teaching and nursing.”

- Linda B. Carter, President and CEO, Community Foundation of Broward (Florida)

Comment

Ways Philanthropy Can Aid with Economy Recovery

“Community and private foundations are interested in working with the new administration to help successfully implement the economic recovery and stimulus package. In particular, we are uniquely positioned to serve our communities through our deep knowledge of the most pressing needs of our community residents and of the non-profit organizations that are on the front lines providing direct services to those most vulnerable.  We are also well connected to the networks of civic leadership and philanthropic partnerships organized for research, planning, and the development of innovative solutions to the major challenges of our times.

Here are five main ways that we can be of service:

• Innovations ready for scale: Inventory the innovations sponsored by foundations and identify the leaders and organizations with the capacity to bring them to scale.
• Building 21st century priorities: Some new priorities could include:
  • investing in metropolitan development as a key engine for national economic competitiveness
  • investing in small business in key sectors of our economy
  • strengthening science, math, engineering, and technology education
  • organizing an education system continuum from early childhood education through college (the p-20 initiative)
  • stimulating a green economy and community-based responses to climate change
  • developing mixed-income communities that replace isolated conclaves of public housing
  • providing new approaches to alleviating poverty
• Transportation and planning: A group of national and community foundations  is exploring forming a collaboration to make national, state, and local transportation policies and investments more economically efficient, environmentally sustainable, and equitable.
• Preserving essential nonprofit infrastructure: Implementing parts of the economic recovery strategy will require strong nonprofits to carry out the work. We have a good sense of the nonprofits that are critical to our community’s continued vitality, and those with great leadership and effective programs.
• Regional collaboration: Each region has unique opportunities that would benefit from collaboration and established collaborations are present in most of our nation’s regions. For example, private and community foundations across the Midwest are already collaborating on addressing common priorities, such as global competiveness, high-speed rail, Great Lakes preservation, and immigrant integration.”

- Terry Mazany, President, Chicago Community Trust

Comment

As the president and trustee of the Arthur M. Blank Family Foundation, Penny McPhee reveals how the economy affected her organization, why the foundation will fund advocacy-related initiatives in 2009, and why she aims to partner with the Obama Administration to further the organization’s “green” program.

Q: What are your foundation’s priorities and how has the economic situation has affected you?

Penny McPhee: There is no doubt that we’ve had to amend our plans and change the way we work. The Arthur M. Blank Family Foundation is based in Atlanta. Arthur, the founder, was one of the co-founders of The Home Depot, so that’s where the foundation’s resources come from.

Since undertaking a five-year strategic plan, almost five years ago, 85 percent of our grantmaking is now focused in Atlanta. Because of the changing economy, we’ve scaled back our grantmaking and we’re exiting two communities in which we have been operating—Phoenix, Arizona and Bluffton, South Carolina.

We have four primary program areas: supporting early childhood efforts; helping young adults transition from high school to postsecondary education; promoting the arts; and creating green spaces and parks.

We’re a pass-through foundation—Arthur funds us as needed—but we have a rolling five-year grant budget. And we do make multiyear grants.

Q: What’s different at the foundation today versus last year at this time?

McPhee: Because the value of one of our principal assets is related to the housing industry, we began to feel the changing economy earlier than other foundations and thus began thinking about how to maintain our long-term strength. We started tackling this issue in 2007, so as we planned our budget for 2008, we reduced our grantmaking budget from just under $20 million to around $15 million.

We also brought our administrative costs into line, reflecting the decline in our grants budget. We’ve made some significant staff cuts over the year but did this without sacrificing our programmatic efforts. And, we will honor all of our existing grant commitments.

Q: Every foundation wants to know: How can we have the most impact with a reduced grant budget?

McPhee: As the economy worsened by the fall of 2008, we began to develop our 2009 strategy. We again looked at other resources and tools we could offer the community, so that we could continue to be a high-impact foundation.

For instance, at our board meeting in early December, we brought in four leaders from national and regional nonprofits whose clienteles were affected by the economic downturn. The CEOs of the United Way of Metro Atlanta, the Atlanta Community Food Bank, the Consumer Credit Counseling Services, and the Atlanta Workforce Development Agency, spent a full day with us because we wanted to understand what was happening at the local and national level, the impact on the ground, the role our foundation can play, and where the CEOs see the need for leadership in the community.

Two things happened: one we learned a lot from these individuals and got a lot of good ideas. Second, the work that we were already doing in our community became even more important and necessary; now it was a matter of getting these initiatives up to scale.

What are some other things we can do to support the family and the community? Because our founder owns the Atlanta Falcons football team, we’ve used that as a resource. At the last game of the season, we helped the local United Way with its supplemental “Critical Needs” campaign. We promoted that via television and radio broadcasts at the game.

As a neutral convener, we’ll continue to encourage nonprofits in our area to use our office building for fundraisers, board meetings, and other events. We are also speaking individually with all of our grantees that have current grants to see if they need to be re-purposed. We realize that the change in the economy could mean that they need to realign their priorities, and we want to help them do that if our resources can be put to a more strategic use.

Q: What will you focus on in 2009?

McPhee: This year we’ll focus more of our efforts on advocacy—getting more folks involved in our work. For example, we learned that the State of Georgia isn’t doing a good job of securing federal dollars in an array of areas: education, human services. I am referring to dollars that local agencies and individuals can access.

One of the things we are working on is commissioning research to learn where these gaps are and what it would take for the state to get federal dollars. We are in the early stages of working with local groups to design the research. Once we know where the gaps are, then we can work with legislators and the state agencies to ask for funding.

From an internal perspective, our staff will probably spend more time developing new ways to support our nonprofit partners and less time developing new grants. This requires a different skill set.

Q: How much of a priority should and will the new administration give foundations to help them address societal needs—especially given the current economy?

McPhee: I believe we are witnessing a remarkable moment of opportunity. It’s sad to me that the president-elect has to enter the stage with all these negatives but I think he’s very talented and I think challenges stimulate creativity.

Nothing can be more valuable to the philanthropic community than President-elect Obama’s on-the-ground experience as a community organizer. I believe he is going to get people involved in their communities in a positive, service-oriented way. It may not be grantmaking philanthropy as we know it but, rather, new ways to stimulate the voluntary sector. I do think it’s an exciting opportunity and as a leader, he will see—and sees—the value of the sector.

For those of us struggling to balance our reduced resources with the need to do more than ever, it would be wonderful to put aside some of the old models and really use this as an opportunity to rethink the nonprofit sector and what it can do, what it’s allowed to do, and what it’s capable of doing. It’s the perfect time to be innovative.

Q: The president-elect is passionate about green technology and innovation—one of your program areas. Do you see opportunities to engage with the administration?

McPhee: We will continue to promote our green initiatives and work on environmental issues. For instance, we established the Blank Family Foundation Speaker Series and our last speaker in early December was William McDonaugh—the architect who has focused his efforts in designing environmentally sustainable buildings. His book Cradle to Cradle calls for transforming how we design, manufacture, and dispose of everything in our society.

When we invite speakers, we work hard to link them to the nonprofits in our communities. So we connected McDonaugh with organizations in our community who do similar work. It is one thing to be inspired by a speaker, but the bigger issue is to spur people to act and do something in their community.

Multiyear Grants: To Commit or Not to Commit?

By: Kelly Shipp Simone

Can we back out of a multiyear commitment we made in a prior year because our foundation’s assets have declined?

The answer in many cases is “no.”  That is, unless your grantee is willing to release your foundation from its obligation.

Generally, an unconditional, multiyear grant is considered a pledge to the grantee organization. In many states, a pledge is a legally binding obligation. Therefore, your grantee could seek to take you to court should you stop paying the grant.

Even where state law does not initially provide grounds for enforcing the pledge, you could still be obligated, under certain conditions. Suppose your grantee relied on that commitment to start a project (e.g., begin construction on a building) or to leverage other dollars. You could become legally obligated to honor your pledge. (Consult with your local legal counsel about your specific situation to determine your obligations and course of action.)

Looking to the future, consider adding a condition to your initial grant commitment, stating clearly—and specifically—the terms under which you might suspend payments. On the other hand, by imposing significant conditions on future grant payments you could negate some of the benefits grantees enjoy from a multiyear commitment.

Kelly Shipp Simone is the senior staff attorney at the Council on Foundations.

About EQ: This column focuses on the ethical dilemmas grantmakers grapple with in their daily work. If you have an idea, question, or a comment, please write to us at taijournal@cof.org.