The Ford Foundation’s Barry Gaberman argues in this document prepared for Ford’s program officers that most program officers are experienced with program vs. general operating support grants, recoverable grants, program-related investments, and the like. However, few, he says, are familiar with endowment and endowment-like grant strategies. He describes when an endowment strategy might make sense and how to determine how endowment funds are to be raised, governed, invested, and used.

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