Up against big names such as the Case Foundation and the Bill & Melinda Gates Foundation, local philanthropists and their family foundations have a hard time getting noticed.
IT’S THE GIFT that keeps on giving—the steady flow of donations from family foundations. But for many retirees running them, it’s getting harder to get people to notice the effort.
Family foundations are quickly springing up across the country as baby boomers sell successful businesses or take buyouts from top corporate jobs. The number of these charitable entities grew by more than one-third between 2002 and 2011 even as the economy gyrated, according to the Foundation Center, a philanthropy-data research firm in New York. And annual giving by such foundations shot up by 72 percent in the same period, to more than $21 billion a year, says the firm.