[This post was co-published in Inside Philanthropy on September 10, 2015.]
A friend of mine rolls her eyes whenever I speak skeptically about the value of charitable endowments. “You’re neglecting the future!” she tells me. She thinks that I’m being profligate and short-sighted by advocating for distributing charitable funds rather than letting them build up.
Actually, my skepticism about endowments arises precisely because I care about the future. And I’d like to illustrate my argument by describing the life of Congressman John Lewis – and the philanthropist who helped make Lewis’s achievements possible. Continue reading