September 22, 2008 | Read Time: 1 minute
The leader of an association of grant makers has a beef with The New York Times.
In a letter to the editor, Steve Gunderson, president of the Council on Foundations, writes that the newspaper “critically” overlooked community foundations in a September 10 article about donor-advised funds. The article instead focused on the growth of such funds at financial-services companies.
“A financial-services company is a business whose prime purpose is to increase its revenue. Community foundations are nonprofit agencies whose prime purpose is to support programs that meet the specific needs of communities and residents,” he writes.
What do you think? Did the article fail to give a full picture of donor-advised funds?
