To the editor,
Thanks for your well-deserved criticism [Philanthropy Journal, 5/20/03] of foundations’ response to the perceived threat from House Bill 7. Our field needs all the honest criticism we can get.
Here’s one foundation staffer who doesn’t see the cause for concern.
Foundations can easily meet the proposed requirements without threatening our ability to survive into perpetuity.
A number of foundations, led by the National Network of Grantmakers, have been making this argument for years.
Perhaps foundations should be encouraged to spend out anyway. Think of the creativity and urgency that would require.
The Diamond Foundation had a mandate to spend out in 10 years and spurred vital research on AIDS at a critical time.
Sandra Mikush, assistant director, Mary Reynolds Babcock Foundation, Winston-Salem, N.C.