Proposed financial rules for U.S. foundations

I don't know if this is positive or negative, but it certainly is
important. I guess it's time again for our American fellow
conservator-restorers to go see their congressmen

    The Life and Death of Foundations
    Excerpt from New York Times, June 8, 2003
    See <URL:http://nytimes.com/> archives for complete article
        Copyright 2003 The New York Times Company

    A bill pending in the House of Representatives would force the
    nation's foundations to pay out more money in grants every year,
    providing a bonanza for nonprofit organizations that depend on
    foundation support. Advocates of the change say they want
    foundations to make a greater contribution to national needs at
    a time when the economy is sputtering, wealthy individuals are
    reducing their charitable contributions and government resources
    are stretched. But some leading foundations are terrified that
    the seemingly innocuous bill would virtually ensure their demise
    by forcing them to spend down their endowments faster than they
    can make money through investments. ...

    The critical issue is whether a 5 percent payout rate would
    deplete foundation assets over time. ...


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                  Conservation DistList Instance 17:2
                  Distributed: Thursday, June 19, 2003
                        Message Id: cdl-17-2-007
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