The vexed question of exit

Barry Gaberman

Whenever the assets of foundations take a dip, out goes the classic call from boards and senior management to downsize and more tightly focus programme activities. The most recent three-year down cycle in the US (2000, 2001 and 2002) was no exception, and since many foundations determine their spending policy on the basis of a multi-year rolling average of asset values, foundation giving may continue to be down for another year or two.

Next Editorial to read

Attending to our foundations

Barbara Kibbe