Goss talks about grantmaking in tough times
The Skillman Foundation President & CEO Carol Goss talked with the New York Times in Tuesday's editions about the effects of the current financial crisis on philanthropy.
Part of a New York Times special section on giving, the article examines whether charitable organizations will see a sharp decline in contributions and if foundations will scale back because of shrinking endowments. The article points out that while individual giving to charities is "hard to forecast, giving by institutional foundations should remain level or rise over the next year. That's because foundations typically achieve the legally mandated 5 percent annual payout rate using a three- or five-year rolling average."