As the rich get richer, they get more generous. Much more generous.
The number of individual donations of $100 million or more hit a record in 2006, according to The Chronicle of Philanthropy, which compiles a yearly list of the biggest givers Last year, there were 21 donations of $100 million or more by individuals to universities, hospitals and charities, compared with 11 in 2005.
The reason for the increase in mega-gifts is simple: There are more people with deep pockets. "It's a sign that wealth is growing and people are just raising their sights in terms of philanthropy," says Stacy Palmer, editor of The Chronicle.
Among those swimming in the deep end of the donor pool: The biggest gift by far was Warren Buffett's pledge of $43.5 billion. Nike co-founder Phil Knight, who gave $105 million to Stanford's business school; David Rockefeller, who gave away $225 million, mostly to the Rockefeller family foundation; oilman T. Boone Pickens, who gave away $172 million, including $160 million to set up his own foundation; and New York City Mayor Michael Bloomberg, who gave $165 million.
In addition to the amount of money available to be given away, philanthropy experts and the givers themselves say there is a greater consciousness that those who have should give.
"It's sort of gotten out there that it's the right thing to do to be generous," says Stanley Katz, Princeton University professor of public policy and a scholar of philanthropy. "For the moment, that's more of the ethos of wealthy people."
[Excerpt of an article by Martha T. Moore, USA Today]
No comments:
Post a Comment