Foundation Grants Surged Last Year Despite Slowing Economy

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Immunization Newsbriefs

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March 28, 2001

 

 

“Foundation Grants Surged Last Year Despite Slowing Economy”

New York Times (www.nytimes.com) (03/27/01) P. A17; Lewin, Tamar

The scale and scope of American philanthropy has undergone vast changes in recent years, with more and more donors providing large sums of money that can potentially alter an entire field.  The Bill & Melinda Gates Foundation’s pledge of $750 million over five years for childhood vaccinations in the world’s poorest countries constitutes a staggering philanthropic gesture regardless of the trend.  Whereas the United Nations Children’s Fund has a total annual budget of $100 million for childhood vaccinations, the Gates’ pledge amounts to one-and-a-half times that amount each year.  Some industry observers fear that people will look upon the donation as a solution to the problem; but William Foege, chief medical adviser of the Gates Foundation, says the actual result is that more interest is attracted, prompting even more donations.  The Gates Foundation is the country’s largest philanthropic organization, with an endowment of $20 billion.

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