Filmmaker, painter, and composer Jerome Hill established the Jerome Foundation in 1964, and was active in its operation until his death in 1972. The Foundation makes grants to support the creation and production of new artistic works by emerging artists, and contributes to these artists' professional advancement. The Foundation states its "belief in the vigorous and distinctive voices of artists whose works challenge our thinking and add meaning to our lives.
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This paper was originally given at the 1987 Conference on Private Philanthropy and the Social Good. It was brought to our attention by a GIA member, and is reprinted here with permission from Cambridge University Press and the estate of Michael Hooker. © 1987 Social Philosophy and Policy Foundation.
A growing chorus of complaint has emerged about foundation giving in recent years. According to critics, foundations do not distribute enough in grant payments to justify their privileged position. On average, foundations pay out about 5.5 percent of their total assets each year and many critics believe that is just not enough.