Attacks against philanthropic foundations by congressional leaders and others have in recent years grown increasingly hostile. In response to this deepening antagonism, John D. Rockefeller III invited Peter G. Peterson, Chairman of Bell and Howell, in February 1969 to form a commission to study American philanthropy and foundations. Fifteen distinguished private citizens representing diverse viewpoints were selected, and funds were raised from various nonfoundation sources in order to safeguard the objectivity of the commission.

This report is the result of the commission's efforts to obtain the necessary unbiased factual information from which rational policy recommendations could be made to remedy deficiencies in the current philanthropic situation. At a time when charitable organizations are being threatened by still more restrictive federal legislation, this report is an indispensable contribution to our knowledge about philanthropy in general and foundations in particular.|Foundations, Private Giving and Public Policy focuses on five pressing concerns: the role of philanthropy in a changing society; the needs of America's charitable organizations; tax incentives for philanthropy; the need for public confidence to offset the taint in philanthropy and foundations; and the proper role of foundations vis-a-vis government as agents and initiators of progress.

CONTENTS
Biographical notes on Commission members and staff.
A personal preface by Peter G. Peterson.
Acknowledgements.

  1. In the beginning.

Part 1. Private Philanthropy:

  2. The role of philanthropy in a changing society.
  3. Financial needs of charitable organizations.
  4. Tax incentives and philanthropy.

Part 2. Foundations:

  5. Foundations ... their characteristics and work.
  6. Financial abuses of foundations.
  7. Politics and public concern over foundations.
  8. Foundation funds ... sources, investment performance, and
      amount of payout.
  9. How foundations have spent their money.
10. Management of foundation grants.
11. Foundation achievements ... an overview.
12. Other views of foundation achievements.
13. The Commission's assessment of foundations.

Part 3. Recommendations:

14. Angle of vision.
15. Recommendations to foundations.
16. Recommendations to government 1 ... tax policy and tax
      administration.
17. Recommendations to government 2 ... regulation of foundations
      ... payout, reporting, and administrative expenditures.
18. Recommendations to government 3 ... the new law ... legislative
      activities of foundations and the birth rate of new foundations.
19. Federal regulation of foundations ... further considerations and
      summary.
20. For the future ... an advisory board on philanthropic policy.

Appendix:
     1. Description of surveys.
     2. Findings of the survey of distinguished citizens.
     3. Findings of the survey of Chicago philanthropic organizations.
     4. Tables summarizing the survey of foundations.
     5. Philanthropy and the economy by Mary Hamilton.
     6. Enlightened self-interest and corporate philanthropy by William J. Baumol.

Attacks against philanthropic foundations by congressional leaders and others have in recent years grown increasingly hostile. In response to this deepening antagonism, John D. Rockefeller III invited Peter G. Peterson, Chairman of Bell and Howell, in February 1969 to form a commission to study American philanthropy and foundations. Fifteen distinguished private citizens representing diverse viewpoints were selected, and funds were raised from various nonfoundation sources in order to safeguard the objectivity of the commission.