FOXNews.com - Philanthropies Come to the Rescue When Government Comes Up Short - Local News | News Articles | National News | US News

FOXNews.com - Philanthropies Come to the Rescue When Government Comes Up Short - Local News | News Articles | National News | US News: "Lost in the tidal wave of government greenbacks is the private solution: the contributions of foundations, corporations and private volunteer organizations that are continuing to step up to help a nation in need.

Traditionally, these philanthropies and corporations have invested private or corporate wealth in the stock market and used the interest to support causes in their community and around the world.

Now, despite enormous stock market losses, they are continuing to do so -- even dipping into their endowments to make it happen."

“We can usually react to changing community needs more quickly than a government entity,” said Scott Tennant, spokesman for The Cleveland Foundation, which has given out more than $1 million in recent months in response to the economic crisis.