Entry in progress—B.P.
The birth of philanthrocapitalism
The leading new philanthropists see themselves as social investors
Feb 23rd 2006
The phrase most often used to describe the new approach to giving is “venture philanthropy”. This was first used in the 1960s by one of the Rockefellers, but is still practised relatively rarely. Perhaps the best example is a firm called Venture Philanthropy Partners. Run by Mario Morino, who made his fortune in software, it specialises in mid-sized non-profit organisations in the Washington, DC, area that work well enough, but lack the capital and talent to expand. With a $30m fund raised through a community foundation, Mr Morino behaves much like a venture capitalist. He is working intensively with 12 non-profit organisations, helping them to develop a business plan for growth and to recruit managers and board members.
Faith, hope and philanthropy
What the new breed of donors can do—and what it can’t
Feb 23rd 2006
The new philanthropists rightly insist on making their money go further, because in the past a lot of donors’ cash has been wasted. One way of introducing more leverage is to adapt elements of the capital markets for use in this sector. Many innovative businesses have sprung up to provide some of the infrastructure of this new philanthrocapitalism. But in the absence of market forces, much giving remains less effective than it should be.
Posted: November 11, 2008
n. Philanthropy that uses the principles, models, and techniques of capitalism.
The New Yorker
DECEMBER 2, 2015
Mark Zuckerberg and the Rise of Philanthrocapitalism
BY JOHN CASSIDY
Speaking at Harvard in 2007, Gates attributed this quotation to his dying mother. (A slightly different version of it appears in St. Luke’s gospel.) In 2010, Gates and Buffett challenged fellow members of the ultra-rich club to give away at least half of their wealth. Since then, more than a hundred billionaires have signed the “Giving Pledge.” Some of these mega-donors, such as Buffett, are content to let others direct their donations. (In 2006, he signed over much of his fortune to the Gates Foundation.) Increasingly, however, wealthy people are setting up their own philanthropic organizations and pursuing their own causes—a phenomenon that has been called “philanthrocapitalism.”
Saturday, December 05, 2015 • Permalink