Visit the website of a major legacy foundation and almost without exception you will find one of the hallmarks of philanthropic transparency: a grants database. But if you’re hoping for the same from America’s biggest individual donors, you’re often … [Read more...] about Legacy Foundations Love Listing Out Their Grants. Billionaire Givers? Not So Much
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A Closer Look at the Philanthropy of Panda Express Founders Andrew and Peggy Cherng
We here at IP frequently come across donors who, after years of substantial public philanthropy, ramp up their mega-giving to an even more rarefied level. Such was the case last September, when Andrew and Peggy Cherng, the founders and owners of the … [Read more...] about A Closer Look at the Philanthropy of Panda Express Founders Andrew and Peggy Cherng
“Escape Pod.” Fraudster Bill Hwang’s Foundation Hired Co-Defendant, Paid Enormous Salaries
A Closer Look at the Philanthropy of Tech Billionaire Couple Phillip and Susan Ragon
On June 18, representatives from the Ragon Institute of Massachusetts General, the Massachusetts Institute of Technology and Harvard University gathered in Cambridge to commemorate the opening of the institute’s new headquarters. A photo on … [Read more...] about A Closer Look at the Philanthropy of Tech Billionaire Couple Phillip and Susan Ragon
Steven Rales Pumped $1.5 Billion into His Foundation in 2021. Is Money Reaching Nonprofits?
When billionaire Steven M. Rales put $1.5 billion worth of his company’s shares into his foundation in 2021, it seemed like a significant boon for the sector. His contribution rocketed the Indian Paintbrush Foundation into the philanthropic elite, … [Read more...] about Steven Rales Pumped $1.5 Billion into His Foundation in 2021. Is Money Reaching Nonprofits?
Meet the Black Box Billionaires: Are These America’s Most Secretive Megadonors?
Are the following five people really the most secretive megadonors in the United States? In all likelihood, no. That distinction probably belongs to names we have yet to learn — just like no one knew who Chuck Feeney was for years, or that Nat Simons … [Read more...] about Meet the Black Box Billionaires: Are These America’s Most Secretive Megadonors?
Another Tech-Fueled, Multibillion-Dollar Foundation. Have You Even Heard of It?
Between a karate studio and a shuttered dessert shop called Sweet Orchid is a Menlo Park, California, branch of the UPS Store that holds the mailbox, and main public address, for one of the largest foundations in the United States — and a case study … [Read more...] about Another Tech-Fueled, Multibillion-Dollar Foundation. Have You Even Heard of It?
AI Has Made Nvidia’s Founder a Centibillionaire. What Will That Mean for His Philanthropy?
Welcome to the centibillionaire club, Jensen and Lori Huang.The Nvidia cofounder and CEO and his wife are now among earth’s wealthiest dozen-plus residents, thanks to the A.I. boom that last month turned the chip maker — of which he owns roughly 3% — … [Read more...] about AI Has Made Nvidia’s Founder a Centibillionaire. What Will That Mean for His Philanthropy?
“We Can Still Be Hopeful.” Talking Trans Funding with Funders for LGBTQ Issues’ Alexander Lee
Alexander Lee has been a nonprofit founder, foundation and nonprofit board member, and leader in the LGBTQ movement for roughly 20 years, beginning when he founded and served as the executive director of the Transgender, Gender Variant & Intersex … [Read more...] about “We Can Still Be Hopeful.” Talking Trans Funding with Funders for LGBTQ Issues’ Alexander Lee
A Look at Eight Major Conservation Regrantors Based in the Global North
Many Large Private Foundations Fail to Pay Out 5% of Assets. Here’s Why
In a March piece in the New York Times, David A. Fahrenthold and Ryan Mac reported that Elon Musk’s Musk Foundation did not meet the IRS requirement to distribute 5% of the fair market value of its assets for charitable purposes in 2021 and 2022. In … [Read more...] about Many Large Private Foundations Fail to Pay Out 5% of Assets. Here’s Why
Careful What You Wish For: House GOP Pushes Philanthropy Reform to Punish Liberal Donors
The Nation’s Richest Are Moving Enormous Sums Via LLCs and DAFs. We Should Demand Transparency
It’s easy to lose sight of just how much power today’s billionaire donors wield via their philanthropy. In many cases, the sums they’re spending on tax-deductible giving, often with policy ramifications, dwarf the amounts spent to elect and influence … [Read more...] about The Nation’s Richest Are Moving Enormous Sums Via LLCs and DAFs. We Should Demand Transparency
Post-WeWork, the Neumanns Are Still Billionaires. Whatever Happened to Their Philanthropy?
In August 2019, WeWork cofounders Adam and Rebekah Neumann made an unusual philanthropic pledge. In a 220-page filing for an initial public offering, the couple said they would donate $1 billion to charity in the decade after the company went public. … [Read more...] about Post-WeWork, the Neumanns Are Still Billionaires. Whatever Happened to Their Philanthropy?
What Happened to Laurene Powell Jobs’ and Leonardo DiCaprio’s Once-Ambitious Green Group?
Three and a half years ago, Laurene Powell Jobs, Leonardo DiCaprio and private equity billionaire Brian Sheth unveiled a joint effort called Earth Alliance to confront the twin threats of climate change and biodiversity loss — and convince the public … [Read more...] about What Happened to Laurene Powell Jobs’ and Leonardo DiCaprio’s Once-Ambitious Green Group?
How the Head of Holdfast Collective Is Giving Away Patagonia’s Profits
After more than eight years in Patagonia’s legal department, Greg Curtis now has a very different role at the outdoor apparel company: he gives away its profits.The one-time mergers-and-acquisitions lawyer recently marked his one-year anniversary as … [Read more...] about How the Head of Holdfast Collective Is Giving Away Patagonia’s Profits
Laurene Powell Jobs’ Climate Funder Ramps Up Giving — and Adds Prominent Board Members
Laurene Powell Jobs’ climate philanthropy grew both its grantmaking and number of grantees substantially in 2022, based on the latest tax records, and added new experts to its board, including Ford Foundation President Darren Walker.Waverley Street … [Read more...] about Laurene Powell Jobs’ Climate Funder Ramps Up Giving — and Adds Prominent Board Members
With $267 Million in Grants Planned for 2024, Sequoia Joins the Ranks of Top Climate Funders
Sequoia Climate Foundation’s wide-ranging 2021 grants, revealed in tax filings last year, introduced the Irvine-based grantmaker as a giant in climate philanthropy. But in the past couple of years, the funder has started moving money at a rate truly … [Read more...] about With $267 Million in Grants Planned for 2024, Sequoia Joins the Ranks of Top Climate Funders
A Family Foundation’s Refreshingly Accessible Approach to Funding Research and Education
At the risk of overgeneralizing, a lot of family foundations tend to be fairly opaque, without much in the way of a public-facing profile. Many do not have websites, post their grants online, publish annual reports and founder’s statements, or accept … [Read more...] about A Family Foundation’s Refreshingly Accessible Approach to Funding Research and Education
Elon Musk Sent Most of His Charitable Dollars in 2022 to a Brand-New Nonprofit: His New School
Elon Musk owns the world’s most valuable car company, the social media network formerly known as Twitter and the satellite network Ukrainian soldiers rely on to survive on the battlefield. In recent years, he’s vied with the likes of Jeff Bezos and … [Read more...] about Elon Musk Sent Most of His Charitable Dollars in 2022 to a Brand-New Nonprofit: His New School
Foundation Assets Reach a Record $1.5 Trillion, Propelled by Investment Gains and Big Donors
Foundation assets rose to an all-time high of $1.5 trillion last month, according to projections by FoundationMark, as endowments posted healthy gains following 2022’s stock slump and some of the wealthiest people on earth pumped billions of dollars … [Read more...] about Foundation Assets Reach a Record $1.5 Trillion, Propelled by Investment Gains and Big Donors
How a Philanthropic Advisor Helps Hesitant Wealthy Donors Level Up Their Giving
When it comes to philanthropy carried out by a certain segment of wealthy donors, “the pause” is all too real, according to Erinn Andrews, founder and CEO of philanthropic advisory firm GiveTeam. Often, Andrews says, donors postpone embarking on … [Read more...] about How a Philanthropic Advisor Helps Hesitant Wealthy Donors Level Up Their Giving
How New IRS Rules Make it Harder to Navigate the World of Appraisals and Tax Deductions
In 2015, Stefan Edlis and Gael Neeson donated their contemporary art collection valued at $400 million to the Art Institute of Chicago. The collection, containing over 40 pieces, was the largest-ever gift of art to the museum. Gifts of art and other … [Read more...] about How New IRS Rules Make it Harder to Navigate the World of Appraisals and Tax Deductions
Come One, Come All. Is It Good the IRS Has Made It Easier to Form a Nonprofit?
Remember the “Tea Party Scandal” at the IRS involving applications for tax-exempt status by conservative groups? It resulted in a huge backlog at the IRS in processing applications for tax-exempt status. The IRS has responded by creating a … [Read more...] about Come One, Come All. Is It Good the IRS Has Made It Easier to Form a Nonprofit?
