Putting Wealth to Work: Philanthropy for Today or Investing for Tomorrow? by Joel L. FleishmanMy rating: 4 of 5 stars
I found this an interesting topic, although I have no background in “organized” philanthropy. The author uses this book to describe philanthropic entities of two kinds, perpetual and time-limited. He describes many earlier philanthropies as being perpetual, but in some cases no longer meeting the suspected needs of the originators, or their designees, or perhaps the reason for the existence of the philanthropy has changed (think the Buggy Whip Manufacturers Association). Given these issues, many philanthropic entities more recently have been created with designed end dates. His argument here is that the case against perpetual philanthropies is overblown, and possibly misguided, and that both kinds of charities have value in the world. It was enjoyable reading such a thorough analysis of a seemingly simple topic that has some buried complexities. Also making this interesting is the foundation name-dropping – many of the largest foundations are dissected here, and you learn a lot about the “industry” and its various goals, and you learn quite a bit about the founders of these entities (Rockefeller, Gates, Carnegie, and the like) and how they thought about their fortunes.
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