Philanthropic practice

The Cleveland Foundation, founded in 1914, is the nation's oldest community foundation. In 1998, the Foundation's assets totaled $1.5 billion and it made grants totaling $47 million.

Is it possible for money to be a conduit for love? The word philanthropy carries the meaning "love of humanity." Modern philanthropy brings together two seemingly irreconcilable concepts: love and money. But if we read through all the annual reports of all the foundations for the last ten years, I'd wager we would be hard-pressed to find the word "love" mentioned more than ten times.

What is the financial health of the nonprofit sector and how do arts organizations compare with other nonprofits? A year-long study of the financial health of Illinois state's nonprofit sector — including the arts — provides a tool to begin answering such questions.

Entrepreneurship is a concept that receives considerably favorable attention in the nonprofit press. Whether referring to mission-related income ventures, non-traditional partnerships, or a redefinition of organizational culture, the word "entrepreneur" has an undeniably positive, even buoyant, connotation in today's nonprofit parlance.

The Boston Foundation is one of the oldest community foundations in the nation. With an asset base of about $500 million, it makes grants of approximately $20 million each year in the Greater Boston area. For the past four years, the Foundation's discretionary grantmaking has been guided by its Building Family and Community Initiative. This initiative focuses on helping Boston's children and their families overcome poverty.

A rather widely shared belief within the foundation community holds that philanthropic resources cannot, will not, and perhaps even should not, be expected to keep up with the growing and changing resource needs of the not-for-profit arts industry. This belief has generated lively discussion among arts grantmakers about the future role of foundations in supporting a healthy nonprofit arts sector in this country.

William L. McKnight, for many years president and chairman of the board of the 3M Company, and his wife, Maude L. McKnight, founded The McKnight Foundation in 1953. The Foundation's assets totaled $1.5 billion in 1996 and its grantmaking in that year totaled $68.3 million. The Foundation has no affiliation with the 3M Company.

Richard Hugo House is a two-year old literary arts center in Seattle named after the Seattle-born poet and creative writing teacher Richard Hugo who wrote squarely and poignantly about people and places often overlooked. Hugo House offers classes, workshops, events, performances, meetings, as well as simply the time and space to read and write.

The Prince Charitable Trusts were established fifty years ago by the Prince family. The foundation has grantmaking programs in three geographic locations: Chicago, Rhode Island, and Washington D.C. The Trusts' assets total $160 million with projected 1998 grant distribution of $7 million in the three locations.

"It takes thirty leaves to make the apple."
— Thich Nhat Hanh