Ray D. Madoff, writing in this morning’s NY Times, laments the news that Leona Helmsley bequeathed most of her $8 billion fortune to a foundation dedicated to the care and welfare of dogs:
The charitable deduction constitutes a subsidy from the federal government. The government, in effect, makes itself a partner in every charitable bequest. In [...]
Philanthropy.com reports on a proposal for a new kind of for-profit / non-profit hybrid entity: the L3C:
[T]he low-profit, limited liability company, or L3C is designed to increase the number of program-related investments, or PRI’s, that foundations make in social-purpose businesses by making those enterprises easier to find. Proponents hope that foundation investment in those ventures [...]
Ian Moss at Createquity makes a compelling case for arts philanthropy that focuses on infrastructure and avoids self-perpetuating cults of personality:
I don’t think it’s incumbent upon foundations to judge artistic merit. There are plenty of other people in this world who are perfectly capable of doing that, and arguably more qualified: curators, journalists, other artists, [...]
Yesterday’s NY Times featured a long front-page article about differing philosophies on the value and purpose of philanthropy. In a familiar refrain, the author pits the merits of private versus public giving:
The rich are giving more to charity than ever, but [they] are not the only ones footing the bill for such generosity. For [...]
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