"At the time, The New York Times called the 2010 creation of what became known as The Giving Pledge, "The biggest event in philanthropy this year...a commitment by 40 of the wealthiest Americans to give away at least half of their fortunes, about $600 billion." Started by Bill Gates, along with his then-wife Melinda French Gates and Warren Buffett, more wealthy people continue to sign on every year."
"Today, a total of 256 individuals, couples, and families have signed the pledge, of whom 194 are from the United States and 110 are US-based billionaires. This means that more than an eighth of the 876 billionaires in the United States-with a combined wealth of $1.7 trillion-have agreed to give away at least half their fortunes by the time of their death."
"According to the report's authors Chuck Collins, Bella DeVaan, Helen Flannery, and Dan Petegorsky, "giving pledger" gifts after 15 years total $206 billion-far shy of the $600 billion originally anticipated. Of that $206 billion, about $164 billion went to foundations and $5 billion to donor-advised funds. As a result, only $37 billion has gone directly to nonprofits. Of course, grants to foundations do create or increase endowments that support annual giving. Even so, the results are, broadly speaking, less than inspiring."
The Giving Pledge began in 2010 with 40 wealthy Americans committing to give away at least half their fortunes, roughly $600 billion. Bill Gates, Melinda French Gates, and Warren Buffett launched the pledge, and signatories grew to 57 by the end of 2010 and to 256 individuals, couples, and families overall. Of the 256 signers, 194 are from the United States and 110 are U.S.-based billionaires, representing more than one-eighth of the country's 876 billionaires with $1.7 trillion combined wealth. After 15 years, giving pledgers have contributed $206 billion: $164 billion to foundations, $5 billion to donor-advised funds, and $37 billion directly to nonprofits, revealing a substantial shortfall in direct charitable funding.
Read at Non Profit News | Nonprofit Quarterly
Unable to calculate read time
Collection
[
|
...
]