January 23, 2009 | Read Time: 1 minute
Kelly Kleiman thinks it’s a great thing that some foundations plan to give more than they are required to by law in response to the economic crisis. But she’d like to see them also make public how much more they plan to give.
Writing at The Nonprofiteer, Ms. Kleiman, a lawyer and nonprofit consultant, says she was encouraged by the George Gund Foundation’s recent announcement that it would spend more than 5 percent of its assets in 2009.
But, she writes, “the foundation’s language on the subject can almost be described as ‘weaselly.’” In the announcement, the foundation says that while it will spend more than 5 percent, “because our portfolio is diminished, the dollars available for grants will still likely decline in 2009. Thus, we do not expect to make any large new commitments.”
Ms. Kleiman wonders why the foundation isn’t saying what percentage it plans to give. She says that a leading foundation could set an example for other grant-making organizations by publicly stating what percentage of its assets it now plans to give, “not to mention providing enough of a whiff of self-regulation to keep the Congress from upping the legally required ante.”
What do you think of Ms. Kleiman’s question: Should foundations that intend to increase their payout rates also make public the new rates?
