December 8, 2005 | Read Time: 1 minute
In a special report on philanthropy, Barron’s (November 28) says that the number of U.S. family foundations has burgeoned by more than 60 percent in the past six years, with approximately 33,000 now in operation, although most are modest in size.
While family foundations often require a greater degree of administrative and legal oversight than, say, donor-advised funds, they provide donors with “firm control over the process of giving,” says the magazine, along with cachet and a way to perpetuate support for deeply felt causes.
In a separate article, the magazine examines the growing popularityof donor-advised funds. The funds, which can often be created for donations of $10,000 or more, have fueled the “democratization of philanthropy,” says Eugene Steuerle, a senior fellow at the Urban Institute, in Washington.
The article points out, however, that donors can only recommend recipients and have less control, as donor-advised funds always have the last word on which charities receive grants.
