It also gives a succinct review of investment problems. Foundations can potentially last for many generations. But they can easily mismanage themselves into oblivion in short order. The authors identify seven deadly investment sins.
For example, foundations don't need to frequently redeem their investments, but some mistakenly invest in liquid assets and lose returns as a result. They would be better off with non-traditional investments like private-equity, income producing real estate, hedge funds, and timber.
Many foundations fail to diversify, unwittingly taking on risk. THey start with stock from the founder's company and continue to hold a concentrated position, exposing themselves to the vagaries of that business. In 2002 the David and Lucille Packard Foundation was forced to cut its donations drastically when Hewlett-Packard stock fell.
IN short, an easy-to-read, useful guide.