The Giving Generation

Ethical Markets Trendspotting, Advisors' Forum


How the new philanthropists’ intellectual capital is changing society.

Unlike in days of yore, when folks waited until retirement before turning into tea-and-biscuits philanthropists, many newly wealthy Americans today are rolling up their sleeves and starting small- to medium-size charitable foundations when they are in midlife transition. Of the 80,000 family foundations in America, 39% are now in the hands of people aged 40 to 49, according to Foundation Source, a major provider of services to smaller foundations. These new philanthropists, the firm says, control a charitable war chest worth some $83 billion, roughly double the firepower of the giant Gates and Ford foundations combined.

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