FROM GRANTMAKER TO LEADER
The past one hundred years has borne witness to an extraordinary revolution in the constitution and activities of philanthropic foundations. The evolution of the governance of foundations-from founder to family to professionals to institutions-has necessarily altered the role that foundations play within a society. As community foundations, for example, strengthen the essential communal fabric and help all organizations gain a financial foothold, they find themselves at times in conflict with commercial gift funds, whose transactional nature between the donor...