The Chronicle of Philanthropy is a magazine that covers the nonprofit world. Based in Washington, DC, it is aimed at charity leaders, foundation executives, fund raisers, and other people involved in philanthropy. The Chronicle of Philanthropy publishes 12 issues a year while updating its Web site daily. It was founded in 1988 by editor Phil Semas and then managing editor Stacy Palmer. It is owned by The Chronicle of Higher Education Inc., which also publishes The Chronicle of Higher Education, a weekly newspaper covering colleges and universities.