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Pam Carpenter Chief Operating Officer Dallas, TX 214.676.6229 [email protected] |
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J. Ben Casey Dallas, TX
214.616.2362 [email protected] |
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Rod Brown
Dallas, TX 412.418.7156 [email protected]et |
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Dr. Raymond A. Craig
Lake Wylie, SC
843.489.2010
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Jane Jordan
Jacksonville, FL
904.434.1431
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Dear Friend:
What makes a philanthropist?
The Philanthropy Workshop, an educational and networking organization, answered this question in a year long study they conducted with high-net-worth individuals. The results of the study can be found in its report released of November 14th entitled "Going Beyond Giving: Perspectives On the Philanthropic Practices of High and Ultra-High Net Worth Donors." In sum, their answer to the question is that the attributes of a philanthropist are many. No one attribute fits every age, gender and level of experience.
Philanthropists behave differently, and as Mack Parker, a senior advisor of the Philanthropy Workshop puts it: "Our learning from this survey is that in many ways, no, you can't necessarily put them into distinct buckets: This is the next generation and this is how they operate, or this is inherited wealth and this is how they operated, or this is entrepreneurs and this is how they operate."
Many philanthropists that were interviewed liked to talk about the "impact" of their giving and how to measure it. But, the one that caught my attention was Gordan Gund, who has owned several sposts teams. Blind since the age of 30, now 78, he has worked for the last four decades to give and raise money for research to stop or reverse degenerative forms of blindness. He is now finally close to fulfilling his dream. His are words we should all take to heart: "Of the things that motivate me the most or make me the most proud, it's the investment of my time. My money, I'm happy about that and pleased that I've had the ability to do that. But, it's really having worked with a lot of dedicated people to bring it to this point."
Sincerely,
Douglas M. Lawson, Ph.D.
Paul Sullivan, "Painting A Portrait of Philanthropy's Many Faces",
The New York Times, November 11, 2017, p. B3.
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"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." - Eli Broad
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$50 MILLION INVESTED BY BILL GATES IN ALZHEIMER'S FIGHT
- - On November 14th, USA Today announced that Bill Gates, Co-founder of Microsoft, has invested $50 million to fight Alzheimer disease. The investment is in the Dementia Discovery Fund, which is dedicated to working on new approaches to treating dementia. In a blog post he wrote, "It's a miracle that people are living so much longer, but longer life expectancy alone is not enough." - - USA Today, November 14, 2017, p. B1.
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ENDOWMENTS BOOM AS COLLEGES BURY EARNINGS OVERSEAS
- - American universities are using offshore strategies to grow their endowments by avoiding taxes and obscuring investments that could spark campus protests. In 2006, the endowments of Indiana University and Texas Christian University invested millions of dollars in a partnership, hoping to mint riches from oil, gas and coal. The partnership was formed by the Houston-based Quintana Capital Group, and the founders promised their university and nonprofit investors that the partnership would try to avoid federal taxes by exploiting a loophole called "blocker corporations," which are typically established in tax havens around the world. Millions of leaked documents from a Bermuda-based law firm, Appleby, reflects some of the creative tax methods used by American colleges and universities. Schools have increasingly turned to secretive offshore investments which utilize blocker corporations while avoiding scrutiny of ventures involving fossil fuels or other issues that could set off a campus controversy. While some schools have announced shifts away from controversial investments, others have pointed out that divesting from fossil fuels would probably lead to a significant drop in operating funds. - - Stephanie Saul, The New York Times, November 9, 2017. Read more.
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DONATE TO A STREET MUSICIAN? THERE ARE APPS FOR THAT
- - On a recent afternoon while street performing in New York, saxophonist Chris Johansen wraps up a set in Madison Square Park. If this were a few years ago, he'd pick up the cash tips in his collection bag. But now, he also adds up the tips he has collected through an app on his smartphone. As Mr. Johansen plays, he displays a sign with his Venmo account, a service of PayPal Holdings Inc. The rate at which the digital tips have come in, he says, has been a surprise. His largest single tip: a $25 whopper. "Almost every day," he says, "I'll look at my phone and see that people have donated money." Mr. Johansen, 37, is one of many street performers turning to digital payment services for tips as fewer people walk around with cash. Nearly 10% of Americans carry no cash, according to a Bankrate.com study, while 40% leave the house with $20 or less. Mr. Johansen says he sometimes receives private messages from Venmo patrons who like his music.
"It's kind of exciting," he says, "that people are connecting with us in that way." - - Matthew Kassel, The Wall Street Journal, November 6, 2017. Read more.
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FOR BIG PHILANTHROPISTS, ADVICE FROM FAMILY AND PEERS IS STILL KEY TO GIVING
- - Many wealthy donors rely on family and peers when making decisions about giving, not necessarily on professional staff or evaluations, according to a new survey of 219 people, most of whom donated at least $100,000 in 2015. Some 57 percent of the donors said they lean on peers in the industries where they work when deciding where to give or what impact investment to make. Another 56 percent said they tap family and friends for input on such decisions. About 72 percent said they participate in "philanthropy networks" - collections of donors who receive education on charitable giving and causes, according to the electronic survey conducted in late 2016 by the Philanthropy Workshop. Only 19 percent of big donors said they prefer to support promising but unproven projects. Rachel Cardone, founder of the consultancy RedThread Advisors, says the relatively small number of donors who show an interest in supporting new ideas and organizations raises an important question: "If we're only supporting mature organizations, where's that funding for innovation?" - - Timothy Sandoval, Chronicle of Philanthropy, November 14, 2017. Read more.
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