The Biggest Week in the History of Charitable Giving?

Is it hyperbolic to consider that this past week has probably been among the most significant in the philanthropic world? Not since 1913 when John D. Rockefeller established his foundation has such an important series of events taken place in such a short span of time:

• Bill Gates announces that he will step down from day-to-day operations at Microsoft to devote his attention to his private foundation -- the Bill and Melinda Gates Foundation -- the largest private foundation in the world. He is only 50 years old, and I do not think it is too presumptious to think that his influence as head of the foundation will not only equal, but may even eclipse his tenure at Microsoft.
• Warren Buffet makes an unprecedented move of pledging $30 billion of his fortune to the Bill and Melinda Gates Foundation. His munificence is only exceeded by his magnamity. He could have created the second largest private foundation in the world overnight. Instead he only makes the biggest foundation that much bigger, and only asks for a board seat. His total commitment of $37 billion of his personal fortune is the largest gift to charity in history.
• Sandy Weill makes a "deal with God" and pledges to give his estimated $1.4 billion fortune away to charity.
• And Americans gave away $260 billion away in 2005, a record high, up 6.1% from 2004.

Wow!

Rockefellers Celebrate Three Centuries of Philanthropy

The Rockefeller family has sustained a prominent and creative presence in philanthropy for more than 120 years and six generations. A new monograph, based on a series of discussions and presentations by family members and associates explains how they have been able to nurture the family's charitable pursuits across decades. Entitled, An Entrepreneurial Spirit: Three Centuries of Rockefeller Philanthropy, the publication is available from Rockefeller Philanthropy Advisors (212-812-4330).
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Getting Smart at Being Good

In the capitalist world of bare-knuckled competion, a growing number of CEOs believe that baring their corporate soul can bolster the bottom line. Time magazine profiles several executives that are testing the notion that corporations ought to exist for more than the pursuit of profit.

Fast Company Recognizes Social Capitalists

The current issue of Fast Company provides its annual ranking of social capitalists (aka really creative and cutting edge nonprofit organizations). While many of those recognized are past winners, it is always an instructive and inspiring group of institutions doing some fantastic work.

Senate tax bill opens new doors for charitable giving

The Senate's recently passed tax bill includes a section that aims to encourage charitable giving. The bill, S. 2020, contains incentives for charitable giving such as allowing tax-free charitable gifts from individual retirement accounts and new deductions for people who can't deduct their donations, because they don't itemize on their tax returns. Among the bill's other provisions are stricter rules governing deductions when donating clothing and household goods. For more details of the bill's section on charitable giving click here.