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Philanthropy

April 27, 2009

The economic turmoil is bad news for philanthropy. Michael Fischer explores what next gens need to know about giving when everyone is tightening their belts, and looks at how to get the maximum bang for your buck…

The current economic downturn has hit the philanthropic sector hard. "There's no question that this has devastated the assets of those who have endowed foundations, and it's really chilled a lot of people who do their giving out of advised funds or do it out of cash, direct gifts," says Virginia Esposito, president of the National Center for Families in Philanthropy in Washington DC.

"The average foundation people we're talking to have been affected: their assets are down 30% to 50%," continues Esposito, whose organisation recently conducted a major survey of its members.

April 27, 2009

Philanthropy courses for next generation members are growing in number as demand for knowledge in how to give effectively continues to rise. Marc Smith meets two twenty-somethings to find out what is driving them to make a difference…

There are those who would have you believe that today's young adults are more likely to be philistines than philanthropists, but perhaps they've just been talking to the wrong people.

Children born into wealth, as everyone knows, have to balance the financial security, comparative luxury and personal freedom they inherit with the burden of expectation that accompanies them as they grow up in the shadow of famous ancestors.

March 26, 2009

There are not many opportunities afforded by the turmoil in the financial world, and it can be difficult to look beyond retrenchment across the board. However, it is a prescient time to look again at what your philanthropy is doing.

There are not many opportunities afforded by the turmoil in the financial world, and it can be difficult to look beyond retrenchment across the board. For many families of wealth, the past few months have been spent on refocusing investment portfolios. However, it is also a prescient time to look again at what your philanthropy is doing.

February 27, 2009

When is a tube of lipstick just a tube of lipstick, and when is it a tour de force? When it’s a MAC Viva Glam. One cosmetic giant challenges family offices to go the extra mile with their philanthropy

MAC cosmetics is an innovator in more than just its makeup. Its AIDS Fund – which donates every cent of the selling price from its Viva Glam range – has raised $128 million since the family-owned Estee Lauder bought the company from the founders in 1994.

February 5, 2009

Index investing traces its roots back more than 50 years and socially responsible investing is no spring chicken either. Yet only recently have the two investing strategies become integrated in a way that does justice to both.

Index investing traces its roots back more than 50 years and socially responsible investing (SRI)—a child of the 1970s—is no spring chicken either. Yet only recently have the two investing strategies become integrated in a way that does justice to both.
 
Investing with goals beyond profits alone has traditionally meant giving up conventional indexing strategies. SRI, in essence, is an active investment strategy, which leaves little if any room for the passive notions of buying stocks and puts it at odds with tapping indexing's low costs and competitive returns.

December 4, 2008

A family-owned American bearing company has lived up to its reputation as a business that treats its staff like family by giving them five-figure bonuses.

A family-owned American bearing company has lived up to its reputation as a business that treats its staff like family by giving them five-figure bonuses.
 
Illinois-based PEER Bearing Company has distributed $6.6 million in bonuses to its 230 US and British employees. The Spungen family sold the business to Sweden’s SKF Group earlier this year.
 

November 25, 2008

The jury trial that pits family-owned Huntsman Corporation against Credit Suisse and Deutsche Bank over a multi-billion dollar tortious interference claim will begin on 11 May 2009.

The jury trial that pits family-owned Huntsman Corporation against Credit Suisse and Deutsche Bank over a multi-billion dollar tortious interference claim will begin on 11 May 2009. The trial relates to the banks’ behaviour in Huntsman’s merger with Hexion Speciality Chemicals.
 
Judge Fred Edwards refused to grant the banks a delay of the trial and denied their request to consolidate Huntsman's claims against Apollo Management, owners of Hexion, with Huntsman’s claims against them.
 

October 15, 2008

European private client wealth advisors, including family offices, are not meeting the needs of today’s philanthropists according to a new report.

European private client wealth advisors, including family offices, are not meeting the needs of today's philanthropists according to a new report. Nevertheless, philanthropy services are expected to become a core service of such providers within the next five years.

October 6, 2008

How can family offices make effective philanthropists out of their family members asks Catherine Roe

There's an interesting dilemma about successful philanthropy writes Catherine Roe. Just like business, the more discipline and rigour you apply to the way you do it, the more professional you become, and the better your returns will be.

But by applying a business-like approach to your giving, it's possible to become overly focused on short-term, quantitative deliverables. And short-termism is the enemy of long-term change.

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