Nonprofit Chronicles

Journalism about foundations, nonprofits and their impact

John Bogle didn’t sign the Giving Pledge. He didn’t have the money. (You need $1bn.) But Bogle did more for the world than most of those who signed. Bogle, the founder of the investment giant Vanguard, died last week. His story is a reminder that how you make your money matters more than how you …

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America’s foundations spend many millions of dollars every year on investment advice. What do they get in return? Bubkes.* You read that right: Money that could be spent on charitable programs — to alleviate global poverty, help cure disease, improve education, support research or promote the arts —instead flows into the pockets of well-to-do investment advisors and asset …

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With a collective $800bn in assets under managements, 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 lag …

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