Vote Smart's Synopsis:

Vote to pass a bill that requires private, public, and corporate foundations with assets over $250 million to report on the demographic composition of their board of directors and staff, and provide details of the diversity of organizations to which the foundation awarded grants and business contracts.

Highlights:

- Requires foundations to report the number of grants awarded to organizations serving social minorities and those comprised of more than 50 percent ethnic minorities, and lesbian, gay, bisexual, and transgender employees [sec. 1 (a) (8-13)]. - Requires foundations to report the percentage of business contracts awarded to businesses owned by African-Americans, Asian-Americans, Pacific Islanders, Caucasians, Latinos, Native Americans, Alaskan Natives, and lesbian, gay, bisexual, or transgender people [sec. 1 (a) (7)].

Full Bill Text