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The Bay and Paul Foundations Inc at a glance

· Private foundation

The Bay and Paul Foundations Inc

Its FY2025 filing reports that it funds preselected organizations and did not take unsolicited requests; check the foundation's own site before ruling it out.

$3k
Granted FY2025still arriving
1
Grants FY2025still arriving
1
States reached
$3k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
05Through PlinthRead
01What it funds
0199% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2020 to 2025.

Arts & Culture$17MEducation$11MCivil Rights$4.7MPublic Benefit$4.6MEnvironment$3.3MInternational$3.3MCommunity Improvement$1.9MCrime & Legal$1.8MOther$0
02FY2025 · 1 grant

Where the money goes

Grants by size, and the largest recipients.

$3,020
Median grant
1
States reached
$0
Total assets
Largest grants
RecipientAmount
THE VOTER PARTICIPATION CENTER$3,020
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY20–23, $449k) land where the poverty rate runs at 14%, against an area that typically sits at 11%. 82% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 11%BOGGS EDUCATIONAL CENTER PROJECT TEAM: $25k → 21%THE YOUNG CENTER FOR IMMIGRANT CHILDRENS RIGHTS: $115k → 14%CHANGING PERSPECTIVES INC: $18k → 10%BOGGS EDUCATIONAL CENTER PROJECT TEAM: $25k → 21%THE YOUNG CENTER FOR IMMIGRANT CHILDRENS RIGHTS: $75k → 14%THE YOUNG CENTER FOR IMMIGRANT CHILDRENS RIGHTS: $25k → 14%THE YOUNG CENTER FOR IMMIGRANT CHILDRENS RIGHTS: $20k → 14%QUEENS COMMUNITY HOUSE INC: $14k → 13%SAMUEL FIELD YM & YWHA INC: $12k → 13%SAMUEL FIELD YM & YWHA INC: $6k → 13%SAMUEL FIELD YM & YWHA INC: $6k → 13%SAMUEL FIELD YM & YWHA INC: $5k → 13%SAMUEL FIELD YM & YWHA INC: $4k → 13%SAMUEL FIELD YM & YWHA INC: $3k → 13%JANET S MUNT FAMILY ROOM: $30k → 10%SPECTRUM INC: $18k → 10%SPECTRUM INC: $10k → 10%BLOOMAGAINBKLYN: $20k → 20%BLOOMAGAINBKLYN: $5k → 20%BLOOMAGAINBKLYN: $5k → 20%JANET S MUNT FAMILY ROOM: $5k → 10%BLOOMAGAINBKLYN: $4k → 20%HEIGHTS AND HILLS INC: $2k → 20%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

VT
NH
WA
MT
IL
WI
MI
NY
MA
OR
SD
PA
NJ
CT
RI
CA
CO
KY
WV
VA
MD
AZ
NM
KS
TN
NC
DC
HI
OK
LA
MS
AL
TX
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

82%of every dollar goes to organizations it has funded before.
$43M · 134 repeat orgs$9.3M to everyone else

Grantees it renews have grown median revenue +43% since the first grant, against +11% for those funded once.

134 repeat relationships: 1 still active in FY2025, 133 since wound down.

How the two cohorts compare

Re-uppedFunded once

Organizations

134
101

Total granted

$43M
$9.3M

Median revenue growth · since first grant

+43%
+11%

Still filing today

84%
75%

New vs renewed · share of each year

In FY2025, 100% of grant dollars renewed an existing relationship; $0 went to new ones.

50%100%’20’21’22’23’24’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’20’21’22’23’24’25
Arts & CultureEducationCivil RightsEnvironmentInternationalHuman ServicesOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • PE
    PROJECT EXPEDITE JUSTICE
    4× · 2020–2023 · $2.1M · revenue +868% · 35% of their budget
  • II
    International Indian Treaty Council Inc
    4× · 2020–2023 · $1.9M · revenue +71% · 55% of their budget
  • GM
    GATEWAYS MUSIC FESTIVAL INC
    4× · 2020–2023 · $1.7M · revenue +457% · 81% of their budget

Funded once

  • UO
    University of Michigangraduated
    one grant, 2023 · $1.2M · revenue +88%
  • CI
    CALVERT IMPACT CAPITAL INCgraduated
    one grant, 2020 · $1.2M · revenue +75%
  • CF
    CENTER FOR CLIMATE AND ENERGY SOLUTIONS INC
    one grant, 2023 · $440k · revenue -19%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Open Markets Institute

The open markets institute works to help people relearn how to use competition policy to build stronger democracies, more just and equitable societies, more innovative and sustainable economies, and a more secure and peaceful world.

Education
2
Boston Architectural College

The bac is committed to provide excellence in design education grounded in practice and accessible to diverse communities.

—
3
Manhattan Institute for Policy Research Inc

The manhattan institute is a community of scholars, journalists, activists, and civic leaders dedicated to advancing opportunity, individual liberty, and the rule of law in america and its great cities.

Public Benefit
4
Vermont Public Co

Vermont public informs, educates, and entertains through public service journalism and enlightening content rooted in vermont. our storytelling enriches lives and fosters community connection and understanding.

Arts & Culture
5
New York School of Interior Design

New york school of interior design provides the most innovative, immersive, and transformative interior design education in the world, demonstrating the impact of professionally designed interiors on the health, happiness, and well-being…

Education
6
Manhattanville University

To educate students to be ethical and socially responsible leaders in a global community.

Education
7
Knight First Amendment Institute at Columbia University Inc

The Knight First Amendment Institute defends the freedoms of speech and the press in the digital age through strategic litigation, research, public advocacy and public education. Our aim is to promote a system of free expression that is…

Education
8
En Garde Arts Inc

To produce bold theatre experiences that reach across artistic, physical and social boundries. We aim to increase empathy and open-mindedness by illuminating nuanced perspectives and unspoken truths behind the salient issues of our time.…

Arts & Culture
9
Creative Commons Corporation

Develops legal and technical infrastructure for digital creativity, sharing, and innovation.

Education
10
Peter G Peterson Institute for International Economics

The peterson institute for international economics (piie) is an independent nonprofit, nonpartisan research organization dedicated to strengthening prosperity and human welfare in the global economy through expert analysis and practical…

Social Science
11
American Enterprise Institute for Public Policy Research

The american enterprise institute is a community of scholars and supporters committed to expanding liberty, increasing individual opportunity, and strengthening free enterprise. aei pursues these ideals through independent thinking and the…

Social Science
12
Council of Independent Colleges

The council of independent colleges is an association of nonprofit independent colleges and universities, state- based councils of independent colleges, and other higher education affiliates, that works to support college and university…

—
How this is measured
The grantee most central to the portfolio’s shape is Services for the Underserved Inc; the most unlike its peers is Saharco Foundation. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

203 grantees tracked through their own filings, 2017–2026.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2026, not grant rows in a single year, so this will not match the grant count on the cover. 203 of the 244 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

22
Load-bearing (≥25% of a budget)
53
Early backer (in before they grew)
198/203
Grantees still filing
139/203
Grew since first funded

Where the money sits, by cause and then by grantee

GATEWAYS MUSIC FESTIVAL INC: $1,740,000 · Arts & CultureGATEWAYS MUSIC FESTIVAL INCGLOBAL INVESTIGATIVE JOURNALISM NETWORK INC: $1,450,000 · Arts & CultureGLOBAL INVESTIGATIVE JOURNALISM …INDIJ PUBLIC MEDIA: $1,400,000 · Arts & CultureINDIJ PUBLIC MEDIAGINA GIBNEY DANCE INC: $986,000 · Arts & CultureGINA GIBNEY DANCE INCLOWER EAST SIDE TENEMENT MUSEUM: $970,000 · Arts & CultureLOWER EAST SIDE TENEMENT MUSEUMThe Laundromat Project Inc: $930,000 · Arts & CultureThe Laundromat Project IncTHE BROOKLYN QUEENS CONSERVATORY OF MUSIC: $850,000 · Arts & CultureTHE BROOKLYN QUEENS CONSERVATORY…COOL CULTURE INC: $810,000 · Arts & CultureST LUKES CHAMBER ENSEMBLE INC: $810,000 · Arts & CultureBLOOMINGDALE SCHOOL OF MUSIC: $775,000 · Arts & CultureCLEMMONS FAMILY FARM INC: $535,000 · Arts & Culture+33 more: $4,060,055 · Arts & Culture+33 moreNEW YORK UNIVERSITY - SCHOOL OF LAW: $2,710,000 · OtherNEW YORK UNIVERSITY - SCHOOL OF LA…University of Michigan: $1,200,000 · OtherUniversity of MichiganAmerican Indian Higher Education Consortium Inc: $1,000,000 · OtherAmerican Indian Higher Education C…AFFILIATED TRIBES OF NORTHWEST INDIANS: $955,963 · OtherAFFILIATED TRIBES OF NORTHWEST IND…COLLEGE OF THE MENOMINEE NATION: $670,000 · OtherINDIAN LAW RESOURCE CENTER: $610,000 · OtherEMERGE 125 INC: $610,000 · Other+77 more: $8,593,580 · Other+77 moreLAW COLLEGE ASSOCIATION OF THE UNIVERSITY OF ARIZONA: $1,778,670 · EducationLAW COLLEGE ASSOC…JOURNALISM DEVELOPMENT NETWORK INC: $1,275,000 · EducationJOURNALISM DEVELO…UNIVERSITY OF COLORADO FOUNDATION: $1,144,000 · EducationUNIVERSITY OF COL…TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA: $810,000 · EducationTRUSTEES OF THE U…NORTHERN ARIZONA UNIVERSITY FOUNDATION: $668,613 · EducationNORTHERN ARIZONA …The New York Public Library Astor Lenox and Tilden Foundations: $600,450 · EducationThe New York Publ…TEACHING MATTERS INC: $310,000 · EducationUNIVERSITY OF WASHINGTON FOUNDATION: $300,000 · EducationINSTITUTE FOR DEMOCRATIC EDUCATION IN AMERICA INC: $300,000 · Education+21 more: $1,305,500 · Education+21 moreInternational Indian Treaty Council Inc: $1,850,000 · Civil RightsInternati…CULTURAL SURVIVAL INC: $1,000,000 · Civil RightsCULTURAL …THE VOTER PARTICIPATION CENTER: $253,155 · Civil RightsTHE VOTER…ROCK THE VOTE: $208,350 · Civil RightsVOTO LATINO FOUNDATION INC: $208,350 · Civil RightsNATIVE AMERICAN RIGHTS FUND INC: $208,350 · Civil RightsTHE SIGNALS NETWORK INC: $150,000 · Civil RightsEARTHRIGHTS INTERNATIONAL INC: $150,000 · Civil Rights+6 more: $315,200 · Civil Rights+6 moreSHELBURNE FARMS: $1,381,000 · EnvironmentGrist Magazine Inc: $882,000 · EnvironmentCENTER FOR CLIMATE AND ENERGY SOLUTIONS INC: $440,000 · EnvironmentCenter for Resource Solutions: $440,000 · EnvironmentPUBLIC EMPLOYEES FOR ENVIRONMENTAL RESPONSIBILITY INC: $440,000 · EnvironmentCOALITION FOR GREEN CAPITAL D/B/A AMERICAN GREEN BANK CONSORTIUM: $200,000 · Environment+7 more: $330,000 · EnvironmentPROJECT EXPEDITE JUSTICE: $2,070,500 · InternationalTHE CENTER FOR ADVANCED DEFENSE STUDIES: $500,000 · InternationalMAPLE MICRODEVELOPMENT: $367,500 · InternationalHUMAN RIGHTS IN CHINA INC: $180,000 · InternationalLIVELIHOODS KNOWLEDGE EXCHANGE NETWORK INC: $168,000 · International+7 more: $340,500 · InternationalCALVERT IMPACT CAPITAL INC: $1,194,699 · Community ImprovementGENERATOR INC: $245,000 · Community ImprovementGEDAKINA INC: $95,000 · Community Improvement
Arts & Culture$15,316,055Other$16,349,543Education$8,492,233Civil Rights$4,343,405Environment$4,113,000International$3,626,500Community Improvement$1,534,699

Showing the 200 largest grantees by grant value.

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$100k$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetPROJECT EXPEDITE JUSTICE: $2,070,500 over 4y, 35% of budgetInternational Indian Treaty Council Inc: $1,850,000 over 4y, 55% of budgetLAW COLLEGE ASSOCIATION OF THE UNIVERSITY OF ARIZONA: $1,778,670 over 2y, 32% of budgetGATEWAYS MUSIC FESTIVAL INC: $1,740,000 over 4y, 81% of budgetGLOBAL INVESTIGATIVE JOURNALISM NETWORK INC: $1,450,000 over 4y, 26% of budgetINDIJ PUBLIC MEDIA: $1,400,000 over 3y, 22% of budgetSHELBURNE FARMS: $1,381,000 over 4y, 5.7% of budgetJOURNALISM DEVELOPMENT NETWORK INC: $1,275,000 over 4y, 5.8% of budgetCALVERT IMPACT CAPITAL INC: $1,194,699 over 1y, 5.3% of budgetUNIVERSITY OF COLORADO FOUNDATION: $1,144,000 over 3y, 0.1% of budgetAmerican Indian Higher Education Consortium Inc: $1,000,000 over 3y, 4.2% of budgetCULTURAL SURVIVAL INC: $1,000,000 over 3y, 5.7% of budgetGINA GIBNEY DANCE INC: $986,000 over 4y, 2.9% of budgetLOWER EAST SIDE TENEMENT MUSEUM: $970,000 over 3y, 3.4% of budgetAFFILIATED TRIBES OF NORTHWEST INDIANS: $955,963 over 2y, 18% of budgetThe Laundromat Project Inc: $930,000 over 4y, 16% of budgetGrist Magazine Inc: $882,000 over 2y, 7.1% of budgetTHE BROOKLYN QUEENS CONSERVATORY OF MUSIC: $850,000 over 4y, 8.2% of budgetCOOL CULTURE INC: $810,000 over 3y, 22% of budgetST LUKES CHAMBER ENSEMBLE INC: $810,000 over 4y, 3.5% of budgetTRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA: $810,000 over 2y, 0.0% of budgetBLOOMINGDALE SCHOOL OF MUSIC: $775,000 over 4y, 14% of budgetCOLLEGE OF THE MENOMINEE NATION: $670,000 over 2y, 2.8% of budgetNORTHERN ARIZONA UNIVERSITY FOUNDATION: $668,613 over 2y, 1.4% of budgetINDIAN LAW RESOURCE CENTER: $610,000 over 2y, 18% of budgetEMERGE 125 INC: $610,000 over 2y, 55% of budgetThe New York Public Library Astor Lenox and Tilden Foundations: $600,450 over 4y, 0.1% of budgetCLEMMONS FAMILY FARM INC: $535,000 over 3y, 25% of budgetTHE CENTER FOR ADVANCED DEFENSE STUDIES: $500,000 over 2y, 2.3% of budgetCITIZENS FOR RESPONSIBILITY AND ETHICS IN WASHINGTON INC: $480,000 over 4y, 3.1% of budgetCENTER FOR CLIMATE AND ENERGY SOLUTIONS INC: $440,000 over 1y, 1.9% of budgetCenter for Resource Solutions: $440,000 over 1y, 7.5% of budgetPUBLIC EMPLOYEES FOR ENVIRONMENTAL RESPONSIBILITY INC: $440,000 over 1y, 24% of budgetPROJECT ON GOVERNMENT OVERSIGHT INC: $440,000 over 4y, 2.2% of budgetTHOMAS COLE HISTORIC HOUSE: $435,000 over 4y, 17% of budgetFIRST PEOPLES FUND: $400,000 over 2y, 2.5% of budgetMAPLE MICRODEVELOPMENT: $367,500 over 3y, 83% of budgetSUNDOG THEATER INC: $360,000 over 2y, 23% of budgetTHEATRE FOR A NEW AUDIENCE INC: $345,000 over 2y, 4.8% of budgetALLIANCE TO COUNTER CRIME ONLINE: $332,000 over 4y, 56% of budgetTEACHING MATTERS INC: $310,000 over 3y, 1.7% of budgetUNIVERSITY OF WASHINGTON FOUNDATION: $300,000 over 2y, 0.1% of budgetBROOKLYN ARTS EXCHANGE INC: $300,000 over 1y, 11% of budgetFRIENDS OF ALICE AUSTEN HOUSE INC: $300,000 over 1y, 66% of budgetINSTITUTE FOR DEMOCRATIC EDUCATION IN AMERICA INC: $300,000 over 2y, 20% of budgetREMATRIATION INC: $300,000 over 1y, 89% of budgetSANTA FE FILM INSTITUTE: $265,305 over 3y, 15% of budgetJoy2Learn Foundation: $260,000 over 4y, 91% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

The Vermont Community…Ben & Jerry's Foundat…Vermont Council on th…The Ford FoundationThe Hyde and Watson F…George W Mergens Foun…The Windham Foundatio…Alchemist Foundation …The Fan Fox and Lesli…Novo FoundationNew England Foundatio…The New York Communit…
The Vermont Community FoundationVT51.1× affinity34 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: The Vermont Community Foundation · Ben & Jerry's Foundation Inc · Vermont Council on the Arts Inc · The Ford Foundation · The Hyde and Watson Foundation · George W Mergens Foundation · The Windham Foundation Inc · Alchemist Foundation Inc · The Fan Fox and Leslie R Samuels Foundation Inc · Novo Foundation · New England Foundation for the Arts Incorporated · The New York Community Trust

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization The Bay and Paul Foundations Inc funds: left to right is the share of its income from government, bottom to top the share from The Bay and Paul Foundations Inc. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 190%6%25%56%100%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →median 12%
  • Vermont Folklife Center: 90% of income from government
  • Mentor Vermont Inc: 58% of income from government
  • Vermont Youth Conservation Corps Inc: 47% of income from government
  • Janet Munt Family Room: 44% of income from government
  • Vermont Rural Education Collaborative Inc: 43% of income from government
  • Root Social Justice Center Inc: 42% of income from government
  • Vermont Community Garden Network Inc: 28% of income from government
  • Vermont Principals Association Inc: 19% of income from government
  • Governor's Institutes of Vermont: 15% of income from government
  • Icivics Inc: 13% of income from government
  • Outright Vermont: 13% of income from government
  • Center for an Agricultural Economy Inc: 12% of income from government
  • Tulsa Community Foundation: 11% of income from government
  • Affiliated Tribes of Northwest Indians: 10% of income from government
  • Clemmons Family Farm Inc: 9% of income from government
  • Burlington City Arts Foundation Inc: 6% of income from government
  • Shelburne Farms: 3% of income from government
  • Lake Champlain Maritime Museum at Basin Harbor Inc: 2% of income from government
  • The Trustees of the Smith College: 1% of income from government
  • Kingdom County Productions Inc: 1% of income from government
  • President and Fellows of Middlebury College: 1% of income from government
  • Flynn Center for the Performing Arts Ltd: 0% of income from government
  • Inclusive Arts Vermont Inc: 0% of income from government
  • The Vermont Community Foundation: 0% of income from government
no gov moneyreceives it· size = income
19get no government money at all
39report government grants on their 990 we could not trace to a source (not plotted)
2rely on government for over half their income
typical government reliance, FY20–25
How this is measured
Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.
05Through Plinth

Warm introductions · Powered by PlinthPlus

How do I get to The Bay and Paul Foundations Inc?

Find your warmest path to The Bay and Paul Foundations Inc through trustees and officers whose names appear on both boards. Search for your organization and Plinth traces the shortest route it can evidence.

Each link is a name appearing on two organizations’ public IRS 990 filings, matched on that name and, where the filings support it, on location. A same-state match has geographic support, which is a second matching feature rather than confirmation that the two are one person; a cross-state one is the likeliest to be two people who share a name. Every hop shows its tier, low-confidence and distant paths are held back rather than guessed, and it is worth confirming the person before you use the introduction.

On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 244 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

How this is measured
Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

Play a game based on Bay and Paul Foundations’ filings →

More from the funding graph

The unnamed billions
grants reported with no recipient in the public record
The regranting layer
51% of grant dollars land in the regranting layer
The DAF merry-go-round
$9.7B circulates between donor-advised funds
The endowment market
who holds foundation money, and what just moved
The camps
funders cluster by geography, not ideology
By state
where grant money is based, and what stays home