Philanthropy is not just about giving, but about fixing the inequalities that make giving necessary

Finding Philanthropy’s Forgotten Founder – The Atlantic

A proposal for a useful reform of the charities sector in the US, with benefits for good work and for tax incomes

What Could Our Working Charities Do With $339 Billion? Let’s Find Out. – Inequality.org

The initiative is called ‘Donor Revolt’. You can find it on www.donorrevolt.com

Americans are a generous people, donating billions of dollars every year to sustain a vibrant independent nonprofit sector. But as wealth has concentrated in fewer hands over the last forty years, philanthropy has become less democratic. Giving by low- and middle-income donors has declined while the ultra-wealthy have come to dominate philanthropy in America. The result has been less money getting to the causes that desperately need it.

Why does this happen? Because wealthy donors are more likely to give through intermediaries like private foundations, which are required to pay out just 5% of their assets each year, and donor-advised funds (DAFs), which have no payout requirements. This stifles the flow of funds to charities on the ground, preventing them from delivering their unique good.

www.donorrevolt.com

It is not a good time for billionaires. Amassing fortunes of money does not seem to lead to happiness.  

Alleged billionaire Donald Trump may soon embody the adage, “a fool and his money are soon parted.” For others, escalating adventures lead to tragic death, as was the case of billionaires Hamish Harding and Shahzada Dawood in a submersible, or a car race crash like James Crown. Briefly, we were exposed to the possibility of some sort of fist fight between billionaires Elon Musk and Mark Zuckerberg. The cage match was ultimately called off by Zuckerberg after he accused Elon Musk of “wasting his time.”  

Charitable misgiving: The modern billionaire philanthropist  | The Hill

Yesterday, the Institute for Policy Studies published a new report: The True Cost of Billionaire Philanthropy. The findings are alarming – and concerning. 

Despite the time and energy the billionaire donor class spends touting their charitable contributions, too many are moving their wealth to donor-controlled intermediaries instead of active charities. They use these donations to enhance their public image, grow political power, and even protect their financial assets.

Getting rich to give to the poor? It never works and is not meant to work.

Big Philanthropy Is a Scam That Makes the Rich Look Better, Conceals Their Crimes | Teen Vogue