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The American Foundations Oral History Project consists of a series of interviews with prominent American philanthropists, each of whom relates their background, the development of their values, and their philosophies of philanthropy. The purpose and state of American philanthropy, including those family foundations and corporate foundations, form a central topic, as do the recent trend of increasing diversity and opinions on grant evaluation and philanthropic assessment. In addition, many interviewees comment on the role of government in philanthropy and the system of ethics at play in American philanthropy.

The interviews in this project focus on the history of the Council on Foundations, its history and development, its function and goals, and its mission. Central to many of the interviews is the 1969 Tax Reform Act, which had a profound impact on the structure and practice of American foundational philanthropy. The majority of the interviewees are philanthropists or professionals with strong connections to the Council; they share their insights, criticisms, and descriptions regarding the Council in many areas, including diversity, philanthropic ethics, principles and practices, the role of the government, and sources of division within the field of philanthropy.