Sharing the Wealth Home Resources
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The Changing Face of Philanthropy in Minnesota:
a radio series on giving in the New Economy.
   F U R T H E R   R E S E A R C H

Budding Philanthropists: Mutual Funds Help Newly Rich Share Wealth with Charities, by Arthur M. Louis
As the current robust economy creates greater affluence, many of the newly prosperous are turning to financial service companies to manage their money - and help give it away. Not just for the super-rich, charitable endowment funds are designed to make philanthropic giving a simple, tax-efficient option for the average donor.
Read more about charitable gift funds in the San Francisco Chronicle:
(Budding Philanthropists/Mutual Funds help newly rich share wealth with charities, Arthur M. Louis, Tuesday, February 29, 2000)

New Inheritors Unlikely to be "Idle Rich," by Diane Stafford
It's estimated that within the next 20 or 30 years, intergenerational transfer of wealth will reach unparalleled levels-hovering around hundreds of trillions of dollars. But according to the following San Diego Union & Tribune article, the transfer of assets to the next generation may increasingly include specific philanthropic bequests:
(Knight Ridder News Service, Sunday, April 2, 2000)

The Widening Income Gulf, by Isaac Shapiro and Robert Greenstein
Over the past 20 years, the role of the nonprofit sector in addressing the needs of the poor has increased in proportion to the growing disparity of wealth in the United States. This excerpt from a report by Isaac Shapiro and Robert Greenstein illustrates the impact of "The Widening Income Gulf" on the distribution of income between the rich and a growing, and some fear, permanent underclass.

Wealth, by Andrew Carnegie
More than 100 years ago, steel magnate Andrew Carnegie said, "The problem of our age is the proper administration of wealth." At a base level, Carnegie argued in favor of estate taxes, which ensure a redistribution of wealth. In an ideal situation, Carnegie believed wealthy people to be better than the government at administering their wealth to charitable causes. Read a condensed version of this classic piece whose message still applies today.

$190 Billion Bonanza for Charity, by Holly Hall and Nicole Lewis
The American Association of Fund-Raising Counsel Trust for Philanthropy and Giving USA magazine compile a near-comprehensive list of statistics on charitable giving each year. In 1999, Americans gave $190 billion. Read this excerpt to find out from where that money came, and to where it went.

Looking for Andrew Carnegie, by Richard Todd
Is it possible to reclaim the legacy of massive donations and humanistic philanthropy, or are we faced with a future of giving in order to receive tax credits? In the current era - with multibillionaires coming out of the woodwork daily - where has the spirit of philanthropy gone? In "Looking for Andrew Carnegie," Richard Todd seeks to find the true meaning of today's charitable giving.

On Free and Open Encounters, by Barry D. Karl
A historical perspective of private money being used for public interests. This document serves as a vehicle to illustrate there is nothing new about the public versus private money debate when it comes to public policy.

The Role of Foundations in Influencing Public Policy,by Patrick Babcock, Arturo Vargas, Nan Aron, and Gail Christopher
Charitable organizations have played a vital role in formulating public policy since the early 20th century. American philanthropy has consistently been on the cutting edge of proposed reforms on many topics, and have become a sort of "independent sector," using their resources to influence public policy. This paper contains a moderated discussion of the issues surrounding philanthropy and public policy.

The Public/Private Balancing Act, by Dennis P. McIlnay
A common misconception about foundations is that they are "activist." The fact of the matter is that, by most standard definitions, foundations are generally not activist in their giving. Should they be? In what way(s) might they start to be?

Giving Among Wealthy Detailed in Two Studies, by Thomas J. Billitteri
Two new studies have categorized and detailed how, why and how much the wealthy give to charitable causes. The surveys, which both study people from a variety of different occupations whose assets totaled at least $5 million.

The 5% Payout
Federal law requires that philanthropic foundations must distribute at least 5 percent of their investment assets each year. In addition to grants, the minimum payout includes capital expenses, salaries and other administrative costs. Does this level of giving jeopardize the ability of foundations to operate in perpetuity?

Within the philanthropic sector, an important debate is raging: Should the rate of payout be increased to reflect the booming economy and better meet the growing need for charitable giving, or are coming generations better served by protecting foundation resources and ensuring the availability of foundation resources in an uncertain future?

In Favor of Five Percent: There's a Place for Permanent Foundations, by John E. Craig, Jr.

Who's Afraid of Increasing Payout? - We Say, Give More Than Five, by Teresa Odendahl and Diane Feeney

Got More? Give More, by Rob McKay

Sustainable Payout for Foundations
The Council of Michigan Foundations commissioned an important piece of research on the 5% payout question that came to a very different conclusion from those discussed above. The report is downloadable in PDF format from its Web site.

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