In 1969, a law required private foundations to distribute 5% of their hoard. This means that a foundation hoarding $1 million only has to pay out a max of $50k. Most foundations do this – the absolute minimum – regardless of the condition of the world and how much funding is actually needed.
foundations Archive
“I would have done more, but…” text
In 1969, a law required private foundations to distribute 5% of their hoard. This means that a foundation hoarding $1 million only has to pay out a max of $50k. Most foundations do this – the absolute minimum – regardless of the condition of the world and how much funding is actually needed.
Just give the damn money: why nonprofits and foundations get in the way and how we can do better without them
As we know, the nonprofit industrial complex is this tangled web of boards, applications, qualifications, etc. But how did we get to a point where the complex would actively hinder mutual aid projects that are engaging in and doing meaningful, grassroots work?