The New Philanthropy and the Old Imbalance

For all the talk of change in Mary McNamara’s series about the new face of philanthropy (Jan. 9-11), clearly we have a long way to go. Our 1998 study of philanthropic practices showed that the vast majority of private foundation grants go to already well-to-do Ivy League universities, museums, symphonies, think tanks, private hospitals, prep schools and the like. Compared with $13.8 billion in domestic grants distributed by the nation’s 42,000 foundations, only $336 million went to those who are in greatest need--low-income children, women, the elderly and the poor in general, and the groups that organize these constituencies--a depressing 2.4% of the total. New funders can buck this trend by giving more of their assets than the minimum 5% mandated by Congress and, like retired investment banker Richard Atlas, giving it to constituencies who are working for real social change.

--TERESA ODENDAHL

Executive director

National Network of Grantmakers

San Diego