A Closer Look at Atlantic’s End Game—And Where It’s Putting the Biggest Money
Resource type: News
Inside Philanthropy | [ View Original Source (opens in new window) ]
By David Callahan
Atlantic Philanthropies is going out with a bang, not a whimper, and it’s pretty darn interesting to watch—far more interesting than you think.
Why? Because the story of Atlantic’s end game is not about a multi-billion-dollar foundation that is spending down its assets on a methodical schedule set in stone years ago. Instead, this is more like a fireworks display, and we’re only now witnessing the finale—one that’s being invented on the fly, no less.
If you’re not paying attention, you’re missing the best part.
Atlantic is starting to make a series of “culminating grants” that will shower a handful of organizations with big money, the kind that rarely comes from foundations. What’s more, these funds aren’t being shoveled out in rote exit grants so Atlantic can meet its deadline of emptying its endowment by 2016. Rather, the foundation has been thinking new thoughts and setting new goals as part of its last phase.