NAME IS A PITFALL FOR FOUNDATION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP73-00475R000400810002-3
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 23, 2016
• Document Release Date: March 24, 2014
• Sequence Number: 2
• Publication Date: February 20, 1967
• Content Type: OPEN SOURCE

STAT
. _
Declassified in Part - Sanitized Copy Approved for Release @ 50-Yr 2014/03/24: CIA-RDP73-00475R000400810002-3
! I
FEB 20 1937
in 'line with this vpurpo:-.e,1
vNAI:il E Is A Pat, Au ,, rut t an Americ:an Development
'..i ?Inundation insists
-,- ...;r? ?1
i.,1A t - any,
? ? ;investment it makes ill A project'
PO' FOTIDIITIOP ?
. . A I. i from installing a village water:
.1
_I system in Chile to rebuilding
. , an old brick faetAry in an .Arna-.
? ,zon town?must be' matched by;
Title for Latin Venture Unit private funds. And if a private
business profits Iron; invest-1
? Is Like *O.I.A.-Aided One ment in a project. it' must set;
mide a percentage of the prof-:
? its for projects in other coun-i
. FinclAl to The New York Times tries. i
WASHINGTON, Feb. 19?The . Last year the foundz;tion;
Organization of . American' merged with the "tools for Free-:
dorn" program, under which
States and. the State.) Depart-
? United States industry donates
ment were concerned today that surplus machinery for voea-
a small but promising venture,tional training schools in latin
in Latin -American self - help: The ultimate aim of' the
imight be endangered as a re-, foundation is to encourage the
suit of last week's revelations formation of many private
that, many organizations re- foudations akin to those in the.
:ceived funds from the Central.United States that promote?
Intelligence Agency. ,educational and community
The name of this venture is;projects..
%/the Pan American Development The Pan .Aracilea.n Develop-
Foundation. Although it is a?ment Foundation is still in its'
private, nonprofit foundation, iti' infancy,. Last yeti' its program.
was established four years ago; a.ctivities amounted to onlv.82.5-1 .
on the initiative of the Organi- million. This year it hopes to not' underwrite administrative.
?zation of American States. The invest $3-million. ' expenses, preferring to put their:
chairman of its board is Dr.- So far its administrative money into projects. Now that:
.1/ Jose A. Mora, who is secretary costs, which amounted to only
general of the O.A.S. S36,000. last year, have been the foundation is well under;
. Officials here remarked that borne by four American founda- way, the four foundations want
the little known Pan American Lions. They are the Rockefeller to cease subsidizing these ad-,1
Development Foundation might Faundation, the W. H. Donner rninistrative costs. As a result,
easily be confusedwith th e Pan Foundation, the Russell Sage the Pan American Development
American Foundation, situated Foundation ad the Clark estate Foundation is 'asking that the
at the University of Florida in (Singer Sewing Machine Com- O.A.S. itself supply, the $4O,00.
Gainsville, or the International party), which has supplied ad- and the rest of *the Amefican;
Development Foundation in ministrative funds for "Tools states $20,000. ?This ..question,l
New York City. - . for Freedom." * has been before the orgazuzae;
Two neceived Funds
- Normally U.S. foundations .1zio tion's..Budqt.Corrgnitteep.,'?Ii.:.;1
? -
? Both of these foundations,
which administer many projects
'in Latin America, were identi-
fied last week as the recipients'
of large annual intelligence
agency 'subsidies that were
channeled first through dummy,;
and then through legitimate,
foundations in what is known as
a "pass-through" operation.
: Officials closely connected
with the Pan American Devel-:
oprnent Founclatisn? said they;
were positive that the fledgling:
foundation had no connection,
with .the agency.
? "IL is absolutely clean," one:
. (official said.
The primary purpose of the.
?foundation is to try to indue&
among Latin- American busi--
!nessmen and financiers a sense
of social responsibility and to.
.encourage them to take a direct,
'role in promoting social prog-.
'yess by investing money in
community development.
, Traditionally, as those con-
nected with the foundation note.,
wealthy persons in Latin Amer-'
,ica often have been willing tO;
- leave social and economic bet-'
terment to the church and the,
igovernmnt. ?
?
Declassified in Part - Sanitized Copy Approved for Release @ 50-Yr 2014/03/24: CIA-RDP73-00475R000400810002-3