Interesting report noted on PubHub, the Foundation Center‘s publications site: giving by community foundations rose 13-plus percent last year. This is cause for celebration til we note that giving TO community foundations rose 45 percent.
So are community foundations treading in the footsteps of Harvard, which continues to seek endowment while sitting on $35 billion in endowed funds already–a number so huge that its expenditure would make tuition unnecessary? And/or are the gifts to community foundations all in the form of quiescent donor-advised funds, that is, money put aside for tax purposes but not (or barely) expended for charitable purposes? And if so, is it likely that Congress will start to put some brakes on the breaks the tax code offers to the said funds?
Tags: Private Philanthropy