Wealthy Families setup New Foundations in MD

WTOPNEWS.com: "Wealthy Families Set Up New Foundations in Md.
Updated: Wednesday, Sep. 22, 2004 - 11:39 AM
BALTIMORE, Md. (AP) - The number of new foundations in Maryland nearly doubled in the past six years, fueled largely by wealthy families who see them as an increasingly attractive way to channel their giving.
Nearly 570 foundations were created in Maryland from 1996 to 2002, representing 41 percent of the 1,376 foundations in the state in 2002, according to the Association of Baltimore Area Grantmakers, using data from the Internal Revenue Service. "