Word: nonprofitable
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Dates: during 2000-2009
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...today's tech millionaires and billionaires are applying to philanthropy the lessons they have learned as entrepreneurs. They want to make sure their charitable investments benefit their ultimate "customers"--those in need--and don't get lost in red tape and bureaucracy. This has caused some tension with the nonprofit organizations that have traditionally been the recipients of such largesse. "Are charitable organizations ready to deal with all that money?" asks Stacy Palmer, editor of the Chronicle of Philanthropy. "If your scale has always been a lot smaller and all of a sudden you are given major resources, the question...
...organizations, to which it offers management support and from which it requires accountability. "What we do is not only give money but business skills and expertise in marketing, public relations, technology, financial and business management," explains Paul Brainerd, president of Aldus Corp. and founder of Social Venture Partners, a nonprofit consortium for techies who don't merely write checks but also lend their skills...
...Microsystems to eBay. Venture-capital financing is as embedded in the culture of Silicon Valley as integrated circuits and $750,000 tract houses. So perhaps it's not surprising that this form of financing--and its results-oriented assessment of potential investments--has made its way to the nonprofit sector...
...premise is that it is not just money that makes a nonprofit foundation succeed or fail; it is also talent, expertise and creative ideas--the same attributes that make a profitable business. This is the sort of thinking that is "breathing fresh air into the whole world of philanthropy," says Lester Saloman, director of Johns Hopkins Center of Civil Society Studies. The venture-capital community--especially blue-chip firms like Kleiner Perkins Caufield & Byers, which has funded Google and Amazon.com among others--believes it has honed its skills at picking winners to a point where it can apply them...
...criticizes the nonprofit "industry" as being too fragmented, with only 28% of the 600,000 U.S. charitable organizations having budgets of more than $500,000. By Doerr's reasoning, too much money is being spent on overhead, with too little going to the intended beneficiaries. He would like to see some rugged capitalism applied to weed out inefficient organizations so that more money would flow to those that are really maximizing their results--say, by improving math scores...