The Ford Foundation announced last week that it would raise the share of its endowment that it spends annually from a little more than 5 percent to 10 percent for the next two years.

That came soon after the progressive Institute for Policy Studies and a coalition of prominent philanthropists called on Congress to require that foundations go a step further and distribute at least 10 percent for the next three years.

This push for higher payouts is motivated by genuine compassion for individuals and communities hit hardest by the Covid-19 pandemic.

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