Accountability and legitimacy in American foundation philanthropy

This chapter examines the pervasive challenge of legitimacy for American foundations, arising from the privileged treatment of private assets in exchange for public good obligations. It delves into political debates surrounding increased regulation, such as payout rates, and contrasts them with European discussions on liberalizing foundation rules. The author argues that legitimacy hinges on balancing foundation autonomy with public service obligations, highlighting accountability as the dominant language for expressing concerns about foundation practices and governance.