Word: nonprofits
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...than any other nation. We are the most generous with our time and our money. Just 13% of German respondents and 19% of French volunteered their time for civic activities in the previous year, in contrast to 49% of Americans, according to a survey by the Johns Hopkins Comparative Nonprofit Sector Project. And while 43% of French and 44% of Germans said they gave money to charity last year, 73% of Americans reported doing so. To be sure, many prosperous Europeans and Japanese pay far higher taxes than Americans, in part to finance social-welfare programs. Yet the private efforts...
...literacy. Jim Clark, legendary founder of Silicon Graphics, Netscape and Healtheon, has pledged $150 million for a biomedical-research facility at Stanford. Pierre Omidyar, founder of eBay, has vowed to give almost all his $4.2 billion fortune to the Omidyar Foundation, which will help build the capacity of nonprofit organizations to become self-sustaining. Ted Turner, CNN founder and Time Warner vice chairman, promotes his brand of globalism through a $1.1 billion endowment for his United Nations Foundation...
...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...