Operating Foundations Growing in Number
March 2, 2007 | Read Time: 1 minute
Looking to do more than give away money, donors are increasingly starting operating foundations to carry out charitable missions as well, reports The Wall Street Journal.
The Foundation Center, an organization in New York that studies charitable giving, has found that the number of operating foundations has risen from 3,472 in 2000, to 4,722 in 2005.
Melissa Berman, chief executive of Rockefeller Philanthropy Advisors, says operating foundations are especially favored by younger donors, stating, “People are becoming major donors at a younger age and are therefore looking at it as something that is a significant part of their day-to-day daily life, rather than something they plan for at the end of their life.”
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