FN&C Now
Volume 2, Number 2 - January 12, 2001
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IN THIS ISSUE
BREAKING NEWS: Zoe Baird calls for new financial models at White House philanthropy conference; many Bush appointees have ties to nonprofit sector
JUST PUBLISHED: Beware "phantom wealth"; FN&C January/February issue on-line
ON THE MOVE: EDs change at Walter S. Johnson Foundation and Stefan Batory Foundation
ACT NOW: Family foundations conference registration
BREAKING NEWS
WHITE HOUSE CONFERENCE: The theme of the third White House Conference on Philanthropy yesterday was building collaborations between federal agencies, nonprofits, foundations and corporate giving programs. But attendees tried to press the point that nonprofits are facing unreasonable pressure to become for-profit. Markle Foundation President Zoe Baird responded that new financial models need to be created for the sustainability of nonprofits, perhaps through the development of new tax policies. Attendees also asked if the incoming Bush administration will follow up on the nonprofit initiatives begun by the Clinton administration. Panelists William White, chairman and president of the Charles S. Mott Foundation (which has partnered with the Department of Education on successful after-school programs) and USDA Secretary Daniel Glickman said only that political will must develop at the grassroots level. More about the conference will appear in upcoming issues of Foundation News & Commentary .
BUSH APPOINTEES: Many of President-elect Bush's appointees have ties to the nonprofit world. At least three prospective Cabinet members are affiliated with grantmakers. Elaine Chao serves as the board chair of the National Philanthropic Trust, and as distinguished fellow at the Heritage Foundation. Paul O'Neill is chair of the Paul H. O'Neill Charitable Foundation and is on the board of the American Enterprise Institute and chairman of RAND's board of trustees. Donald Rumsfeld serves on the board of governors of the Smith Richardson Foundation, and is also a RAND trustee. Colin Powell is chairman of America's Promise and serves on the boards of Howard University, the United Negro College Fund and the Boys & Girls Clubs of America. Ann Veneman is on the board of directors of the Great Valley Center. Norman Mineta is on the board of directors of the Eno Transportation Foundation. Robert Zoellick serves on the board of trustees of the Eurasia Foundation. More on the appointees:
http://washingtonpost.com/wp-srv/onpolitics/elections/cabinet/bushcabinet.htm .
JUST PUBLISHED
BEWARE PHANTOM WEALTH: Managers of foundation endowments should look into the near future, says Thornton Parker, at what will happen when aging boomers start to draw on their retirement accounts. "The stock values in foundation portfolios, which are benefiting from boomers' retirement purchases now, will be tied just as closely to the market when the retirement sales begin. If those sales destroy trillions of dollars of phantom wealth, some of it will come from foundation portfolios." Foundations have more freedom to act on this now than other institutional investors might, writes Parker in his cover story, "Sitting on Phantom Wealth": http://www.foundationnews.org/CME/article.cfm?ID=143 .
Is your foundation taking any action out of concern about phantom wealth? What is your opinion about it? Click here to send your feedback to the editors: curtj@cof.org .
NEW ISSUE ON-LINE: Parker's article is one of a half-dozen articles in a special section on topics of interest to board members in the January/February 2001 issue of Foundation News & Commentary . Full text of the magazine will be available on-line today at: http://www.foundationnews.org .
ON THE MOVE
NEW EXECUTIVE DIRECTORS: Kimberly Gilboy announced her resignation as executive director of the Walter S. Johnson Foundation. Gilboy had been affiliated with the foundation for 14 years. Former executive director Jean Parmelee will serve as interim ED. Anna Rozicka was appointed executive director of the Stefan Batory Foundation (based in Warsaw, Poland); Rozicka will succeed Jacek Wojnarowksi.
ACT NOW
COMING UP: The 15th Family Foundation Conference will be held in Chicago, Illinois February 12–14, 2001. The program covers a wide range, including funding strategies and life cycles of family foundations, and includes the first-ever Family Foundation Institute. Register for the conference: http://classic.cof.org/conferences/fam2001/confmain.htm .
New attendees can participate in a preparatory teleconference on February 5 or 6: http://classic.cof.org/conferences/fam2001/teleconf.htm .
Also, the conference will be preceded by the Next Generation Retreat, "Focus on the Future." Retreat registration: http://classic.cof.org/conferences/fam2001/nextgen.htm .
THANKS TO OUR FUNDERS
FN&C Now is funded by the David and Lucile Packard Foundation, the Alfred P. Sloan Foundation, the Freedom Forum, the Mitsubishi Electric America Foundation, and the Schooler Family Foundation.
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last update: 2.20.01