Nonprofit Chronicles

Journalism about nonprofit organizations and their impact

With a collective $800 billion in assets under management, America’s big foundations spend vast sums of money to buy investment advice. They’re getting little, if anything, of value in return. Their own investment offices, and the Wall Street banks, hedge funds, private equity firms and consultants they hire, when taken together, deliver investment returns that …

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Philanthropy is a “black box,” writes David Callahan, the founder and editor of Inside Philanthropy. “If you don’t think philanthropy is maddeningly opaque, it’s because you’re deep inside the sector.” He’s exaggerating, but not by much. Some foundations don’t disclose their donors. All are required by law to report on their grants, but many are …

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