Atlantic Philanthropies Releases Publication on Operating for Limited Life
A growing number of foundations are choosing to operate within a limited lifespan. While the reasons vary, in each case the organizations must address specific questions as they develop a plan to implement this decision. For The Atlantic Philanthropies, the commitment in 2002 to close its doors by 2020 reflected founder Chuck Feeney’s Giving While Living approach to philanthropy and his desire for the foundation’s funds to achieve maximum impact within that time frame and beyond.
Establishing an end date had critical implications for all aspects of Atlantic’s work and operations. As a multi-billion-dollar global philanthropy, it was the largest foundation ever to fully commit its endowment in a fixed period of time and voluntarily exit. Given the scale of Atlantic’s enterprise, it was essentially forging an uncharted course. As one senior manager noted: “There was no help desk that we could call.” What’s more, far from representing the kind of winding down trajectory that is typically associated with the term “spending out,” Atlantic’s culminating phase was conceived as a building up to make a lasting difference in the fields and regions where it had long been involved...