As part of our Grantmaker Speaker Series, Joel Fleishman of Duke University’s Sanford School of Public Policy visited the Foundation to discuss spend-down foundations. While the Hewlett Foundation is intended to operate in perpetuity, a growing number of foundations plan to grant all of their assets within a specific timeframe.

Mr. Fleishman served from 1993-2003 as president of the Atlantic Philanthropic Services Company, the U.S. program staff for the Atlantic Philanthropies, which is scheduled to spend down by 2016. During this session, he discussed his reflections on the advantages and limitations of spend-down foundations as compared to perpetual foundations.