The Adolph Coors Company, for example, will spend 70 percent of its $3 million in philanthropic funds this year on education.

Today Perpetual is Australia's largest manager of philanthropic funds, including acting as trustee for over 450 charitable trusts.

Because museums generally have significant collection assets, institutions or social programs that lack them could conceivably, on that ground, divert philanthropic funds to themselves.

One is the amount and division of philanthropic funds raised for the absorption of immigrants in Israel, which he found to be insufficient.

He has also successfully attracted significant philanthropic funds.

Several pointed to the island's philanthropic fund, which raised $550,000 to $600,000 last year for donations to several children's charities in the area.

The condition of the Houston Endowment and other philanthropic funds helps explain one facet of the problem.

Corporations have moved away from giving general operating support to such institutions, arts executives said, and are directing their philanthropic funds toward specific programs and audiences.

"Who wouldn't want to edit a magazine that had a seemingly bottomless philanthropic fund to finance it?"

In 1986, he established the Edward Sulzberger Foundation, a philanthropic fund.