Ford Foundation Overhauls Spending to Counter Autocracy and Inequality
The Ford Foundation, one of the world's largest private grantmakers, will overhaul its spending to counter what its new leadership views as autocracy and inequality, according to ABC News.
The Ford Foundation, one of the world's largest private grantmakers, will overhaul its spending to place greater weight on democracy, according to a report from ABC News. The wire report states that the revised spending is aimed at a set of concerns identified by the foundation's new leadership.
ABC News described those concerns as the "mutually reinforcing rise of both autocracy and inequality," and presented the two trends as connected, with each described as strengthening the other. The report summarizes the leadership's position in those terms and does not attribute the view to any individual officer or board member.
The change is intended to counter both developments through the foundation's grantmaking, ABC News reported. The available summary does not describe the programs, regions, or organizations that will receive the revised funding, and it does not identify which spending categories will change.
The summary also does not give the size of the revised budget or the timeline for implementing the changes. ABC News's headline describes the foundation as set to give more weight to democracy, and the report does not provide figures on either the amount or the schedule in the material available for this account.
The item was distributed as a wire story and carries no byline in the material available. ABC News describes the Ford Foundation as one of the world's largest grantmakers, and the report does not compare the revised approach with the practices of other philanthropic organizations. Readers seeking the full account can consult the original ABC News report.