Tuesday, May 6, 2008
This week, from May 4 through May 7, the Council on Foundations hosts a leadership summit, a meeting of some 3,000 nonprofit leaders described by Peter Deitz, founder of Social Actions and a guest blog writer on Tactical Philanthropy, as the "Davos of Philanthropy." The Chronicle of Philanthropy has frequent blog updates from various sessions of the event. According to one such blog, Robert Rubin, the United States Secretary of the Treasury during the Clinton administration, told grant makers at the conference today that the nation’s economy is facing “the most complex set of circumstances” in his lifetime and warned that foundations may end up earning less on their endowment investments over the next one to three years when compared with the investment growth achieved in the past 20 years. Meanwhile, he predicted that that foundations could end up facing “tremendous fiscal pressure” as the need for their services increase and government resources are reduced.