The carveout, sponsored by Sen. John Thune (R-S.D.) and Rep. Dave Reichert (R-Wash.), could spare another 20 to 30 foundations that would face a similar fate in the future.
Humans can be quirky. Yet many foundations and nonprofits design interventions that assume humans will act “rationally,” which can undermine program effectiveness.
For over a hundred years, foundations have embraced giving to individuals via fellowships, scholarships, and exchanges. Funders have long recognized the value this type of giving brings: to connect individuals and their ideas across national,...