I am not surprised. I helped found Vanguard in the early 1970s. The founder was Joshua Mailman. Josh came to me and asked how he could create a nonprofit charitable giving organization for the other millionaire heirs like himself who wanted to use their money to benefit the world. He meant giving to liberal and politically correct causes.
When Vanguard was founded its initial grants went to Lefty documentary filmmaking.
My advice to Josh was pretty straightforward at the time, very much like the advice I gave to many people. They did not know what the first step was to creating an organization. What Josh needed to do was to get his closest friends who agreed with him together to discuss their common interests. When the discussion reached the point of harmony, it would be Josh's job to create the organization, get the non-profit exempt status letter and open the appropriate bank account.
Liberal organizations often fail because Lefties have a complete hole in their brain when it comes to numbers, accounting, personal responsibility and willingness to stand up to other people. Those are characteristics that invite criminal fraud.
Vanguard lasted nearly 40 years. That is a very good run.