Lake Charles American-Press from Lake Charles, Louisiana on August 2, 1964 · Page 45
Get access to this page with a Free Trial

Lake Charles American-Press from Lake Charles, Louisiana · Page 45

Lake Charles, Louisiana
Issue Date:
Sunday, August 2, 1964
Page 45
Start Free Trial

How Those Foundations Give Away Billions rjy $7 million «x» encourage ballet. e ti was smother foundation. Under » iJtogtatn *ilive wi* «challenge, tie has tried imvain tort our aware towcwpe «p|?WOJOOO fto launch foaflly weeded studies *jf fcuman ferain function. Wfeen fee fceard iabout *he feuge igrant fowssiut toallet, lie wept. Earlier, another foundation plowed fSQOjOOO Into (finding «ul «nore «l>oul *catp jproblems, In- *luding ipsoriasiB, «un&i fcomdess-cat^anaHapg money #11 *»ver Ifte fflace, and <n tJew England » fwust Jfeina ^continues *o ipile iup interest *o that inner efouflhel of oate «ar » fea1i4rtiuhel «f corn (eachj. , tfeese «a« offbeat «x»mpleB. But, |tt senerat, «B «*ere iSiyaie wr reason *o «he way IpWlattttiropic foundataona (operate? How snuch snoney -do «bey command!? How 4o iiiey tnalce Mp AK» «4iey * «Kwn to society *>r |ust ian ieWbomte «aK «doflge for «ie wealfliy? ^o finfl *out, i^Mnuft' WOSKUX apent -almost a readers rthe -interesting aMuring Answers. it brings *o its flhe «waole-Hr«- |Q<«i8t«88inaJj Wright r«lanan «>f ^eJMS, who Iha6 Ibeen UooWng 4«to «toe «mpac* son wur wconomy «of *aK*eKempt foundations »nd «dharitrib1e teiistB, Ibeliewes «fcei« sway *e tnore «Sian «S|000. HJiieES estimate ias «nauy « *0^000. put She annual tisla «onty «|000. iDbat ts «wcause * ffoundailon must ibave »WOjOOO «n jassets <«p m foundations is bdd, not toy 13 giants, hut by Borne tSO ^smallei-" foundations, «ach wath as- *ete «f $10 tnillion or anore On fhe oiier toand, 50,«00 really small founda- «ons--each wi«i, say, $14,000 in assets and yearly -grants <of $2,<600 apiece— would not «qual *ven vne-lowtfh *f «flie Ford Foundation^ weajtii. All *old, *he foundations listed an «ie 1964 Foundation Directory -control better than $12 trillion an tax-free sphilanthropic capital. 1 ion. *ittfdn-4ia8 five *imes She «*se»«58 *f its mear- ilon, ^dhn JL BaHtfoKd'* |$360 «illion, W, K. tnllUott, under ^200 million *ach, , «4ir«e-f ourths N>t «he capital foundations like? By mo means, llhey fall anto five main types: 1 (General research foundations <aoout ISO), iwMch control «4 |>ercent of Aat $12 ijillion, «ive (mainly *o education, fcealtai, and welfare. 2 Special-purpose foundations <ahout 479), wMch have 19 percent «of «ie assets, with goals fficom fce»e *o Ciiterally) «ie moon. 3 Community foundations {some 102), which ^administer funds left In trust for local projects and memorials. «. Company-sponsored .foundations <currentiy ft,7a6^ which represent 28 percent of all foundations and ^concentrate ,«on industrial programs. S Family foundations <all the rest), which focus on aceeping alive the warled dharitahle an- tterests *of *he founder and his <or her) heirs. JIne *pecai«l-P«u»os« foumlation «cee»lric? 8»Io, l)ut they «an Ibe frustratingly rigid. The fjrairie Chiclcen Foundation an Plinois, for «x- jample, anay aise Its funds for mo jpuipose beyond tte jgoodhearted tout marrow one of preserving what'* left of prairie-chicken flocks. I3n the other band, the Fred L. Lavanburg iloundation lias a program Ufoat will lift the- ftearts of smillions,"i3iel,avanbur«s commissioned jarchltect CharlesM. iGoodman «o develop colorful and seasily «rected pavilions of 'low -cost for the *5deadispace" areas tHiat often surround Mgh-rise iiousing projects. Soon sfliese paper-sta-ewn wastelands mcross «ie US. mil &ive wa y to gay neighborhood "'pavilion «senters" where, an separate auiSts^ *ots can fjlay, young people tiold ^dances, mnd Ufeeir elders cultivate iiobbies-all without Betting tn one anolier'fi iiair, When; we west «f «he foiuidotipns? More toan a Miird, with more than two-thirds tot ifee cash, are in «he Middle Atlantic region- New York, New Jersey, Pennsylvania. New York iias Iflie most <l,3l€), wltii 156 percent of the tnoney-^around «7 billion, ©hio. Indiana, Illinois, Michigan, mnd Wisconsin come mext. A group of Tpamlwns to fill tte "dead spaces" often surrounding housing projects is the dream of architect Charles Goodman, commissioned by the Lavariburg Foundation.

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 11,100+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free