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Tainted Money: “Tain’t Enough”

April 11, 1990

Johnnetta B. Cole had the audience roaring at one point during a discussion at the Council on Foundations’ annual meeting last week in Boston.

Ms. Cole, president of Spelman College, was asked about her views of “tainted money” and whether she would accept such a donation if offered to her college.

“The only problem with tainted money,” Ms. Cole said, “is, tain’t enough.”

Turning serious, Ms. Cole said that recipients should understand why the money is tainted and to decide “what it is you’re moving away from.” She used, as a hypothetical example, a donor who would want to top Bill Cosby’s $20-million gift to Spelman by giving $100-million, stipulating that the college teach what the donor wanted.

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Johnnetta B. Cole had the audience roaring at one point during a discussion at the Council on Foundations’ annual meeting last week in Boston.

Ms. Cole, president of Spelman College, was asked about her views of “tainted money” and whether she would accept such a donation if offered to her college.

“The only problem with tainted money,” Ms. Cole said, “is, tain’t enough.”

Turning serious, Ms. Cole said that recipients should understand why the money is tainted and to decide “what it is you’re moving away from.” She used, as a hypothetical example, a donor who would want to top Bill Cosby’s $20-million gift to Spelman by giving $100-million, stipulating that the college teach what the donor wanted.

“Well, tain’t enough money in the world to get me to agree to that,” Ms. Cole concluded.

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The Council gave its award for Distinguished Grantmaker of the Year to Paul N. Ylvisaker, a professor of education at Harvard University and a former Ford Foundation officer. Mr. Ylvisaker, who is in a hospital recuperating from surgery, was recognized for his dedication and long-standing service to philanthropy.

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
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