• Steve Martin

White House Seeks to Spur Innovative Spending by Foundations – Tax Watch – The Chronicle

The Obama administration has proposed new rules designed to encourage foundations to spend money to promote the social good in ways other than grants, for example through low-interest loans or stock purchases in for-profit companies.

Foundations have historically been reluctant to use such program-related investments “because of confusion about how they work and the high costs associated with them,” Jonathan Greenblatt, a White House official, said in a blog post.

via White House Seeks to Spur Innovative Spending by Foundations – Tax Watch – The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas.

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