In a recent blog post, June Wilson and Lenore Hanisch of the Quixote Foundation discuss the decision to close the foundation and spend its entire endowment:
Spending up allowed us to see clearly that our philanthropy was not about our personal, family or institutional legacy, it was about the work of our grantees and the change they work tirelessly to realize. It enabled us to embrace conflict and seek resolution. It encouraged us to approach our grantmaking strategy with a greater sense of creativity, not restriction. Knowing that we had limited time and resources, we found a clearer path that was ultimately more satisfying to us as individuals and more impactful for our organization and the field.
Read the full blog post.