John E. Craig
Regulating Foundations: A Delicate Balance, Commonwealth Fund 2004 Annual Report, John E. Craig, Jr., The Commonwealth Fund, December 2004
Foundations and other philanthropic organizations have been the subject of substantial scrutiny over the last year on Capitol Hill, in the offices of state attorneys general, and in the news media. In his new essay, Regulating Foundations: a Delicate Balance, Commonwealth Fund Executive Vice President and Chief Operating Officer John E. Craig, Jr., addresses the challenges of regulating foundations effectively and proposes steps that the foundation sector could take to ensure strong performance by a very diverse group of institutions.
Craig addresses many of the concerns about foundations raised in the June 22, 2004, Senate Finance Committee hearings on nonprofit organizations. In addition, he proposes changes in the annual IRS tax return filed by foundations that could greatly improve the level of understanding of foundations activities and spending patterns.