A coalition of 10 big California foundations has headed off controversial state legislation to require big grant makers to disclose information about the diversity of their giving, staff members, and boards by pledging to spend millions of dollars to strengthen organizations that serve minority and low-income people.

Joe Coto, a Democrat from San Jose who drafted a measure that was passed by the Assembly, agreed to withdraw the legislation on Monday following months of talks between the foundations and three legislative caucuses that represent members of minority groups.

For the full transcript go to www.californiafoundationsbackcomprom