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Extensive Reporting of Information
Among the ironies of the proposals for increased regulation is the call for more information from foundations, a group of institutions that already voluntarily supplies a great deal of information or is required to do so by existing regulations. Foundations currently use several mechanisms to report on their activities:
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All private foundations must file annually the IRS 990-PF tax return, which in addition to soliciting data on revenues, expenses, assets, and regulatory issues also requires detailed information on grants, programs, and endowment investments. The inadequacies of the 990-PF as an information source and regulatory device are discussed below, but the huge volume of information it solicits is nonetheless available to all—since 2000 on Guidestar.com, in the offices of the Foundation Center, or from the foundations themselves. |
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The Foundation Center, supported principally with grants from foundations and with regional offices and collections around the country, collects data on all foundations; maintains a searchable Internet database on all known grantmakers (including private, community, corporate, and operating foundations); publishes reports tracking foundation trends; maintains a user-friendly Web site designed to assist would-be grantees, researchers, and regulators; and provides training on the use of its services. |
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Most large and many smaller foundations publish annual reports or, increasingly, maintain Web sites designed to communicate their purposes and giving strategies and disseminate the results of their work. Of the top 200 private foundations (accounting for 45 percent of all foundation assets) in 2002, for example, 88 percent either published a detailed annual report or maintained a Web site disclosing a substantial amount of information on their activities. This percentage rises to 97 percent when low-engagement foundations that devote their resources to a few local or regional institutions are omitted. |
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Most state attorneys general require annual submission of reports from foundations. |
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U.S. foundations that maintain Web site or publish annual report, 2004 |
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The Commonwealth Fund 2004 Survey of Large Foundation Web Sites. |
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