Philanthropy Is Rising to Economy’s Challenge

To the Editor:

Pablo Eisenberg fulfills an appropriate role as a critic to motivate philanthropy to reach beyond its normal limits (“Foundations’ Failure to Give More Is Inexcusable,” Opinion, November 27).

Time will tell all of us whether philanthropy responded appropriately to the current economic challenge.

However, I believe that when we look back on this economic crisis, we will all be proud of the ways in which philanthropy rose to the challenge.

This is my first experience in the philanthropic sector as it weathers an economic downturn, one that is reducing our endowment values on the average of 30 percent or more in a very short period of time.

Yet, I’ve been really impressed by the response of our sector to date. Any accusation that foundations have failed to give more is simply inaccurate.

There is a time for appropriate legislative debates. This is not that time.

Today, we should collectively enhance our communications, our collaboration, and our service to those most in need.

My hope is that even philanthropy’s fiercest critics might join us in creating a legislative and regulatory environment to grow philanthropy in ways that allow us to also grow in our service to the challenges of our time.

Steve Gunderson
Council on Foundations
Arlington, Va.

To hear audio excerpts from a recent Chronicle interview in which Mr. Gunderson talks about foundations and their responses to the troubled economy, go to http:// philanthropy.com/extras.