Case Study of a Foundation’s Closure

October 19, 2000 | Read Time: 1 minute

Closing a Foundation: The Lucille P. Markey Charitable Trust, by John H. Dickason and Duncan Neuhauser, details how the Miami fund, as specified in Mrs. Markey’s will, closed out its activities after 15 years of grant making. The authors also examine the debate over whether it is better to create foundations that are designed to operate in perpetuity or ones that have a predetermined lifespan. The report provides short profiles of 30 foundations that were created with definite closing dates. Mr. Dickason served as the Markey trust’s dissolution administrator and Mr. Neuhauser is a professor at Case Western Reserve University’s medical school.

Publisher: Council on Foundations, 1828 L Street, N.W., Washington, D.C. 20036-5168; (202) 466-6512; fax (202) 785-3926; http://www.cof.org; 97 pages; $25 for members, $40 for nonmembers.

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About the Author

NICOLE WALLACE

Features Editor

Nicole Wallace is features editor of the Chronicle of Philanthropy. She has written about innovation in the nonprofit world, charities’ use of data to improve their work and to boost fundraising, advanced technologies for social good, and hybrid efforts at the intersection of the nonprofit and for-profit sectors, such as social enterprise and impact investing.Nicole spearheaded the Chronicle’s coverage of Hurricane Katrina recovery efforts on the Gulf Coast and reported from India on the role of philanthropy in rebuilding after the South Asian tsunami. She started at the Chronicle in 1996 as an editorial assistant compiling The Nonprofit Handbook.Before joining the Chronicle, Nicole worked at the Association of Farmworker Opportunity Programs and served in the inaugural class of the AmeriCorps National Civilian Community Corps.A native of Columbia, Pa., she holds a bachelor’s degree in foreign service from Georgetown University.