How did spend-out affect Beldon’s relationship with grantees?
We tried to be clear from the beginning about the end date. We gave large, multi- year general support grants because we wanted to build strong public policy and advocacy organizations that would be well-positioned to continue their work after we closed. Being a spend-out foundation allowed us to provide larger grants over a sustained period of time – something we might not have been able to do if we were structured to exist in perpetuity.