Lake Charles American-Press from Lake Charles, Louisiana on August 2, 1964 · Page 45
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Lake Charles American-Press from Lake Charles, Louisiana · Page 45

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Lake Charles, Louisiana
Issue Date:
Sunday, August 2, 1964
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Page 45
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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.

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