How long should foundations exist?

The Aspen Institutes's Program on Philanthropy and Social Innovation just published report on the long-established but seldom-studied practice of spending down foundation endowments rather than preserving them indefinitely.

Time is of the Essence: Foundations and the Policies of Limited Life and Endowment Spend-Down, looks at five foundations and concludes that donors might want to consider a limited lifespan for their foundations.

The study also offers these suggestions for those thinking about starting their own foundations:

• Invest time and effort to clearly define "donor intent" t;
• Donors should go beyond their inner circle to engage people with "expertise, shared passion and shared values to lead their foundations".
Time is of the Essence: Foundations and Policies of Limited

Life and Endowment Spend-Down is available online as a free download at www.aspeninstitute.org/psi.