Foundations Create Large Economic Benefit, Study Says
Thursday, December 04, 2008
Giving by foundations supports the economy of the United States, with $1 of every philanthropic contribution producing more than $8 in economic benefits, says a new study.
While the social effects of foundation giving are often examined, the study is the first extensive look at how philanthropy helps household incomes and the economy, says its sponsor, the Philanthropic Collaborative.
The collaborative is a new coalition of grant makers, charities, and elected officials, with a goal of educating federal and state lawmakers about philanthropy. It plans to share its study with members of Congress, some of whom have raised questions about whether the tax-exemption of foundations — and its subsequent drain on government revenue — needs to be reexamined.
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