As America approaches its 250th birthday, we rightly celebrate, as did Alexis de Tocqueville, our tradition of citizen-driven philanthropy. As a share of GDP, Americans give more to such causes than any other country. A robust part of that tradition is the private foundation, the tax-advantaged institution that supports everything from college scholarships to local theater. There are more than 150,000 of them, many started by families, and many devoted to a single community.
Less appreciated is that a handful of mega-foundations dominate both the financial resources and the grant making of the sector, and that a few have played a major role influencing the priorities of higher education. A new resource from the American Enterprise Institute, SOURCE, the Searchable Open University Records of Charitable Expenditures, is a window into that dominance.
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