This morning Ellen Dorsey, the executive director of the Wallace Global Fund, showed Twitter CEO Jack Dorsey (no relation) the right way to give away $1 billion by RandallLane
how giving is really done. I’m talking about Ellen Dorsey , the executive director of the Wallace Global Fund, a little-known $100 million foundation that just committed to spend down 20% of its endowment this year alone, with more to come above the 5% legally required of foundations. In other words, it has put itself on a path to spend itself out of existence. “We have been open to that,” says Dorsey, who adds a final decision is ongoing.is a bit paradoxical.
And their announcement comes at a paradoxical time. Just as Americans need their health care plans most when they lose their jobs, donations to charities drop during downturns at the exact time charitable needs surge. “In this moment, philanthropy has an urgent need to respond,” says the Wallace Fund’s Dorsey.
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