The John D. and Catherine T. MacArthur Foundation announced an increase in its philanthropic giving in response to federal funding cuts under the Trump administration, which the foundation deems a "crisis." President John Palfrey stated that the foundation will raise its annual payout from 5% to at least 6% of its $8.7 billion endowment, expecting to allocate an additional $150 million over the next two years. The foundation urges other philanthropic organizations to follow suit amid significant disruptions in funding due to federal policy changes.
"This is a major crisis for our sector and it's a time when those of us who can do more should do more," said John Palfrey, president of MacArthur Foundation, in an interview Wednesday with The Associated Press.
Palfrey announced the increase in a blog post on the foundation's website, saying, "The cliff of funding from federal programs has sent budgets underwater in field after field, and people and communities in the United States and abroad will suffer."
Palfrey called on other foundations to join them in the commitment to increase their giving. "Philanthropy should act in a different way than we have in the past, which is historically too passive."
Palfrey said he expected to grant out around $150 million more over the next two years.
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