Sunday, March 16, 2008

Anonymity vs. Doing Well By Doing Good

According to the Internal Revenue Service, as reported by Central Penn Business, the following five Central Pennsylvania foundations gave out the most money in 2006:

1. Ferree Foundation, $1.83 million

2. Graham Foundation, $1.74 million

3. Tyco Electronics Foundation, $1.50 million

4. James Hale Steinman Foundation, $1.49 million

5. John Frederick Steinman Foundation, $1.44 million

Foundations are usually funded in anticipation of death or by bequests. Some local philanthropists give as much but do so anonymously.

But there are those who trumpet giving, especially through naming rights, in order to conceal their avaricious business practices. It's like putting perfume on a skunk.