From the Feb. 19 & 26 issue of the New Yorker:
The Poetry Foundation functions as an operating foundation, spending most of its money on its own activities rather than on grants. As Ethel Kaplan, a lawyer at a wealth-management firm and the chair of the board, put it, “Nobody wanted to sit back and read grant proposals—especially from poets.” By January, the foundation had received eighty-eight million dollars. After all the money has been distributed, the foundation’s budget will be about ten million dollars a year.
What? No poetry in grantwriting?