As their giving surges, foundations are looking for ways to be more open about their work, The Philadelphia Inquirer reported April 29.
“We need to be accountable,” Dorothy “Dot” Ridings, president of the Council on Foundations, told the newspaper at the trade group’s annual conference in Philadelphia.
Foundations, which last year donated an estimated $27.6 billion, up from $8.7 billion 10 years ago, traditionally have operated with little public scrutiny, she said.
Now, she said, foundations must be accountable to charities they support and to the public.
“The public trusts foundations to do good things,” she said. “If we ourselves don’t tell what we’re doing, we risk losing public support.”
Greater accountability could mean open meetings, better communications and an annual report.
For full story, go to The Philadelphia Inquirer.