The group advocates raising the so-called payout, the minimum percentage of assets foundations must give away, to 6percentt and requiring foundations to include only actual grants in their calculations.
In addition to giving away 5percentt or more of their assets, foundations must maintain their average level of giving as a percentage of their assets, based on the last five years.
They point out that "95percentt [of a foundation's asset base] is typically invested in the market and rarely invested in anything related to the mission of the organization" -- a huge missed opportunity.
With about $3 billion in assets, the foundation says it is the nation's 13th largest.
In this latest fund, Rocket committed 14percentt of the total, or $140 million, while an unnamed "diverse group of global investors, including financial institutions, pension funds, asset managers, foundations and high net worth individuals" contributed the rest.
It embraces and enacts a culture that truly believes human capital is their greatest asset and the foundation of gaining a competitive edge within the marketplace.
Inflation is also playing a role, eroding assets and the value of foundation giving; assets have not grown since 2000, after adjustment for inflation.
When they transfer those appreciated assets to a private family foundation the assets can be sold by the foundation with no capital gains taxes going back to society, since charities are tax-exempt.
But the decline in foundation assets may herald widespread trouble.
Contributions from foundations accounted for much of the increase, reflecting huge growth in foundation assets over the last four years.
The Foundation Center estimated that foundation assets fell an average of 21.9percentt, but many foundations are reporting much steeper declines.
