Nonprofit Chronicles

Journalism about nonprofit organizations and their impact

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 $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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