Month: June 2012

The Endowment Emperor has No Clothes

We are being hoodwinked. Those who operate in the nonprofit world, and those of us who give to nonprofits. We’ve all drunk the endowment Kool-aid. Nonprofits whose hearts are in the doing of good have adopted as the gold standard sitting on a big fat pile of money they never intend to spend. This hoard of cash, they’ve been told, will...

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