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<br />THE NEW GRANT FROM THE FORD FOUNDATION <br /> <br />Last March The Ford Foundation made a grant of <br />$5,375,000 to Resources for the Future for con- <br />tinuing its program through 1964, This is five years <br />beyond the period covered by the 1954 grant of <br />$3,410,000 from the Foundation in support of our <br />research and education activities through September <br />30, 1959. A small portion of the new grant is being <br />made available to supplement our own grant-making <br />ability during the rest of the current phase of our <br />program. At the end of the 1959 program year the <br />remaining $5,000,000 will become available in an- <br />nual installments. These would average $1,000,000 <br />a year as compared with an average of about <br />$750,000 under the current phase of the program. <br />The opportunity to build further upon work done <br />thus far is, of course, a SOurce of great satisfaction. <br />Yet it is also with a deep sense of responsibility that <br />the directors of Resources for the Future have ac- <br />cepted the new grant. As President Heald of The <br />Ford Foundation said in announcing the grant, "The <br />pressing problems that prompted establishment of <br />Resources for the Future remain with us. By their <br />nature, they are not capable of quick solution; they <br />require continuing knowledge and understanding." <br /> <br />~~O~.Lc.7&~ <br /> <br />Chairma1l of tlte <br />Board of Directors <br />