Philanthropy is Big—But Does It Have a Purpose?

Doug White

Chapter Chapter Three in The Nonprofit Challenge, 2010, pp 61-79 from Palgrave Macmillan

Abstract: Abstract Fantastic wealth and philanthropy should go hand in hand: The names Andrew Carnegie, John Rockefeller, and Edward Harkness come quickly to mind; they were fantastically wealthy men who devoted a great deal of time to the “work” of philanthropy during their lifetimes. Bill Gates established the William H. Gates Foundation (now the Bill and Melinda Gates Foundation) in 1994 with $94 million, and over the next decade, thanks to market growth and additional gifts, it became world’s largest philanthropic foundation,1 with assets of $30 billion. In 2006, Warren Buffett made it even bigger. He made the commitment of a lifetime, also making his philanthropic mark while he is still breathing, when he pledged $31 billion more to be added over several years to the Gates Foundation.2 Gates’s and Buffett’s intention was that the money would be used to finance health and education initiatives among the world’s most disadvantaged peoples.

Keywords: Charitable Contribution; Food Bank; Melinda Gate Foundation; National Public Radio; Large Gift (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11400-5_4

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DOI: 10.1057/9780230114005_4

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