Good Fortune is for Sharing
Three Connecticut wealth managers, Greg Skidmore, Brandon Lacoff and Tim Davidson, who won a $254 million jackpot, are making good on their promise to put the money toward philanthropy. They formed the Putman Avenue Family Trust to facilitate their giving.
The first recipients, five charities that assist veterans, will each receive $200,000: Bob Woodruff Foundation, |
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Building Homes for Heroes, Services for the Under Served, Operation First Response and Intrepid Fallen Heroes Fund.
Irrational and Generous
Emerging research on the impulses underpinning philanthropy indicates that the more rationally people think about giving, the less likely they are to do so. While donors increasingly aim to give rationally and ensure that charities spend their money productively, studies by economists, psychologists, and social scientists indicate that giving is driven largely by emotional motives -- including both empathy with others and a selfish need to feel virtuous -- and that analytical thinking quashes the human instinct for generosity.
"What we find is that when people are thinking more deliberatively ... they end up being less generous overall," says Deborah Small, an associate professor of marketing and psychology at the University of Pennsylvania's Wharton School.
Don't Age Stereotype
Online giving has become an important option for donors who are 60 years of age or older. A Dunham+Company study by Campbell Rinker finds that while 61% of all donors surveyed had given an online gift at some point, a surprising one out of two donors 60 years old and older said they had done so This compares to three of four donors under 40 and two out of three donors ages 40-59 who report previous online giving.
As importantly, the study finds that once donors who are 60+ years old give, they tend to continue to give online, and much more so than younger donors. For example, of the donors surveyed who are under 40 and give online, the mean number of gifts they have given online is 11. But for donors 40-59 years old, the mean number of gifts is 15 and 14 for 60+ year old donors.
Change Agents
People in the U.S. and United Kingdom overwhelmingly trust non-profits and charities ahead of governments and corporations to create social change. However, the Social Good Survey by Fenton and GlobeScan, finds that 72% of U.K. respondents and 65% of U.S. respondents expect their giving to remain the same in 2012. A notable minority say their giving will decrease (16% U.K. and 17% U.S.).
Reading List
How did philanthropy become such a powerful and integral force in American society? In Philanthropy in America: A History, Olivier Zunz, an American history professor at the University of Virginia, describes the growth of U.S. philanthropy from the 1870's to the present. He looks at not only the giving of the elites -- Andrew Carnegie, Bill Gates -- but also the "mass philanthropy" of ordinary citizens and the mobilization of small donors by organizations like the Red Cross and March of Dimes.
And the Award Goes to ...
To Write Love On Her of Cocoa, Florida was awarded a $1 million grant from Chase at the first-ever American Giving Awards on NBC. The program featured celebrity tributes to five charities selected through online voting. Four additional finalists will split another $1 million in grants from Chase as follows: $500,000 to Let's Get Ready, Inc. (New York, N.Y.); $250,000 to Matthew Shepard Foundation (Casper, Wyo.); $125,000 to Wish Upon a Hero Foundation, Inc. (Moorestown, N.J.); and $125,000 to Move for Hunger, Inc. (Neptune, N.J.).
Webletries
Do celebrity spokespeople make for good fundraisers? Geoff Livingston and Henry Dunbar examined several online fundraising campaigns that combine celebrity and online personality (or weblebrity) presence with social media and concluded that many celebrities don't effectively raise money for non-profits.
Their white paper reveals, instead, lesser known celebrities and weblebrities fair better, in particular those that: (1) Have a personal story to tell about the cause; (2) Are willing to engage a pre-existing tight knit community that interacts with the spokesperson on behalf of the cause; (3) Have an authentic tie to the cause that resonates with that community.
A Global Phenomenon
A new Walden University survey shows that "think globally, act locally" has become a worldwide mentality, with a majority of citizens around the world (73%, on average) agreeing that what happens in other parts of the world can impact their local community. The global survey also found high levels of engagement in social change, with three-quarters of adults (75%, on average) involved during the past six months, which most commonly included donating money, goods or services (41%, on average).
Olympic Philanthropist
Remember Kipchoge Keino? The Kenyan athlete was one of the stars of the 1968 Olympics as he cruised to victory in the final of the 1,500 Meters, crushing the favorite and then world record holder, America's Jim Ryun, in the process. Keino's Olympic success saw him become a household name across the globe and a hero to people all over Africa. But with his track career now well and truly behind him, the 71 year old now spends his time focusing on his other passions -- namely philanthropy and encouraging Africa's next generation of star athletes.
Lights, Cameras, Good Deeds
The Case Foundation is asking people who witness random acts of kindness this holiday season to capture those moments in photos and post them on their favorite social network. They may get a nice reward for that good deed: up to $500 for themselves and up to $5,000 for their favorite charity.
The goal of the program, called #Good Spotting, is to honor "little acts of good that go unsung" by recording them with pictures. The Case Foundation is planning to give out a total of $25,000 in weekly prizes before the campaign ends on December 23rd.
Quiz: Generous Cities
Who has the biggest hearts? The Daily Beast analyzed city-by-city data on consumer spending and charitable contributions. Match the following cities with their rank in generosity to answer this question.
Answers are shown at the bottom right. Until next month ...
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