There is a staggering $865 billion sitting in private foundations in the U.S. today and, given the tragic and historic loss of lives, homes, and businesses in Florida, Texas, Louisiana, and elsewhere, it’s now more important than ever to deploy philanthropic dollars.

Philanthropists form foundations to bring resources and results to causes we believe in. Together, we help build better and stronger communities—locally as well as globally. Regretfully, some foundations give the minimum and choose instead to build large organizations.

Philanthropists need to look their fellow philanthropists in the eye and say: “This is a stick up.” America’s rules governing private foundations should change to embrace our new challenges as a society. What worked 30 years ago does not work today—and reform is long overdue.

Read the full article by Melanie Lundquist by Fortune