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Abstract: 

A major American foundation, the Pew Charitable Trusts based in Philadelphia, has announced that it is changing its form of operation to become a public charity. The change will enable the new entity to reduce costs (partly by avoiding the excise tax on investment income), provide more benefits to grantees, and attract more funds from outside sources for its charitable projects. Initially, only four directors will be members of the Pew family, and going forward the by-laws will limit the service of family members on the board.

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