Increase Amount Funds Must Give
August 22, 2002 | Read Time: 1 minute
To the Editor:
Pablo Eisenberg was right on target when he suggested in his column that the payout rate for foundations should be increased (“Congress Should Increase Amount Foundations Must Give,” June 27).
It’s time that foundations quit counting rent, legal expenses, and other administrative costs as the amount they count toward the legal required payout amount. It is also time that they put more of their funds in the hands of the nonprofit groups that are tackling critical social problems.
Nonprofit groups should add our voices to the National Committee for Responsive Philanthropy’s push for Congress to raise the payout rate to 6 percent in grants only.
Joe Szakos
Executive Director
Virginia Organizing Project
Charlottesville, Va.
