Sean at Tactical Philanthropy is a principal of Ensemble Capital, a firm that manages charitable funds. He can easily hire some schmoe out of a community foundation to give donors grant-making advice. Why, then, does California need community foundations? Sean, Bank of America, Wachovia, Bessemer, Merrill, Fidelity, UBS, or Goldman, all run very effective and efficient philanthropic divisions. Plus, they have nice people on staff and who are good with management and metrics. Lucy, since this is all just one big philanthropic capital market, evolving through the survival of the fittest, why not roll up these inefficient little community foundations into a for profit, such as Goldman Sachs, the way non-profit hospitals have been rolled up into Columbia/HCA? Would anything vital be lost?