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From: Philanthropy Today
Subject: Foundation Assets at Record Highs Amid Pain and Cuts
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The Gates Foundation has cut ties with Arabella Advisors, a fund administrator for nonprofits and a frequent target of Republicans’ ire for its support of “dark money” groups that help fund Democratic candidates and causes. In an internal announcement, foundation leaders said the move was an effort to cut out middlemen and engage more directly with grantees. But it comes as foreign aid, a keystone of the Gates Foundation’s work, is under attack, and as Bill Gates tries to protect the philanthropy from the Trump administration’s investigations of its political foes. (New York Times)
Cuts and Closures
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