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Extensive and incriminating testimonies were heard by the committee from ex-communists such as Manning Johnson, [[Louis Budenz]], and Maurice Malkin, who shared information of foundations who funded efforts plotted in [[Moscow]], Russia to subvert American society.<ref name=thenewamerican>Jasper, William F. (February 6, 2017). [https://thenewamerican.com/cutting-off-the-toxic-funding-flow/ Foundations: Cutting Off the Toxic Funding Flow]. ''The New American''. Retrieved September 21, 2021.</ref>
 
Extensive and incriminating testimonies were heard by the committee from ex-communists such as Manning Johnson, [[Louis Budenz]], and Maurice Malkin, who shared information of foundations who funded efforts plotted in [[Moscow]], Russia to subvert American society.<ref name=thenewamerican>Jasper, William F. (February 6, 2017). [https://thenewamerican.com/cutting-off-the-toxic-funding-flow/ Foundations: Cutting Off the Toxic Funding Flow]. ''The New American''. Retrieved September 21, 2021.</ref>
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Cox died in December 1952 prior to the conclusion of the committee's work and report's release.<ref name=fascinatingpolitics/> The 15 page-long<ref name=thenewamerican/><ref group=note>The report length is technically fifteen pages long, although the main text only spans fourteen pages due to the last one being "Appendix A."</ref> final report contained little substance and did not declare major foundations to have been subversive. It asserted on the second and third points:<ref>''Final Report'', pp. 7.</ref>
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Cox died in December 1952 prior to the conclusion of the committee's work and report's release.<ref name=fascinatingpolitics/> The 15 page-long<ref name=thenewamerican/><ref group=note>The report length is technically fifteen pages long, although the main text only spans fourteen pages due to the last one being "Appendix A."</ref> final report contained little substance and did not declare major foundations to have been subversive. It asserted on the second and third points:<ref>''Final Report'', pp. 7–8.</ref>
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{{quotebox|Our investigation, hurried by lack of time, indicates that very few actual Communists or Communist sympathizers obtained positions of influence in the foundations. However, there are some unhappy instances where the committee is convinced infiltration occurred. There remains the ugly unalterable fact that [[Alger Hiss]] became the president of the Carnegie Endowment for International Peace. And this despite the fact that his nomination and election came about through the efforts of men of proven loyalty and broad experience in public affairs.}}
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{{quotebox|Our investigation, hurried by lack of time, indicates that very few actual Communists or Communist sympathizers obtained positions of influence in the foundations. However, there are some unhappy instances where the committee is convinced infiltration occurred. There remains the ugly unalterable fact that [[Alger Hiss]] became the president of the Carnegie Endowment for International Peace. And this despite the fact that his nomination and election came about through the efforts of men of proven loyalty and broad experience in public affairs.
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The committee believes that on balance the record of the foundations is good. It believes that there was infiltration and that judgments were made which, in the light of hindsight, were mistakes, but it also believes that many of these mistakes were made without the knowledge of facts which, while later obtainable, could not have been readily ascertained at the time decisions were taken. It further believes that the foundations are aware of the ever-present danger and are exerting and will continue to exert diligence in averting further mistakes. While unwilling to say the foundations are blameless, the committee believes they were guilty principally of indulging the same gullibility which infected far too many of our loyal and patriotic citizens and that the mistakes they made are unlikely to be repeated. The committee does not want to imply that errors of judgment constitute malfeasance.}}
    
Rep. Reece, expressing disapproval of the shallowness, commented:<ref name=libertyuniversity/><ref>''Final Report'', p. 14.</ref>
 
Rep. Reece, expressing disapproval of the shallowness, commented:<ref name=libertyuniversity/><ref>''Final Report'', p. 14.</ref>
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