Foundation News: Giving It (All) Away At Gates
Thanks to a reader for passing along an email and a link to the Chronicle of Philanthropy that outlines what everybody but me may already know -- that the Gates Foundation is giving all it's money away rather than functioning as an endowed trust in perpetuity.
A letter sent to grantees highlights this decision: "After deep discussions this fall on how we can make the greatest possible progress against the problems we’re tackling, Bill, Melinda, and Warren have decided to focus the foundation’s work in the 21st century," states the letter from Gates honcho Patty Stonesifer. "As a result, they have agreed that the foundation should spend all of its resources within 50 years of their deaths."
A letter sent to grantees highlights this decision: "After deep discussions this fall on how we can make the greatest possible progress against the problems we’re tackling, Bill, Melinda, and Warren have decided to focus the foundation’s work in the 21st century," states the letter from Gates honcho Patty Stonesifer. "As a result, they have agreed that the foundation should spend all of its resources within 50 years of their deaths."
posted by Alexander Russo at 12/06/2006 09:15:00 AM
1 Comments:
I think it is great that they're diving right into the problem, but part of me wonders if it would be better to have an organization like this stay around.
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