The Hewlett Foundation

“We plan to honor grant commitments made in 2008 and previous years, and we also plan to increase the percentage of our endowment that will be paid out in grants in 2009. However, it is likely that the Foundation won’t embark on some new initiatives that we otherwise might have considered. And despite the increase in the payout rate, next year’s grantmaking will likely be reduced by approximately five to seven percent compared to 2008.” Read more.