June 2013

It wasn’t so long ago that trustees of endowed foundations could spend 5 per cent of the value of their portfolio each year on their mission, confident that the residue would maintain its value in relation to inflation, allowing them to go on doing good indefinitely. Those days, it seems, are over, and some calculations suggest that pproaching 3.2 per cent might be a more sustainable spending level for foundations wanting to exist in perpetuity. But are perpetuity and spending out the only options? This article suggests a third way.

Read the full article by Richard Jenkins, published in Alliance Magaine (with commentary from foundation executives, including our own Phillip Henderson).

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