FORA Culture

Season 2006 Episode 1103

Katherine Fulton

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Katherine Fulton
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The Deeper News About the New Philanthropy10,000 families in the US, Katherine Fulton reported, have assets of $100 million or more. That's up from 7,000 just a couple years ago. Most of that money is "on the sidelines." The poor and the middle class are far more generous in their philanthropy, proportionally, than the very wealthy.Philanthropy across the board is in the midst of intense, potentially revolutionary, transition, she said. There's new money, new leaders, new rules, new technology, and new needs. Where great wealth used to come mainly from inheritance and oil, now it comes from success in high technology and finance - and ideas and expectations from those business experiences inform (and sometimes over-simplify) the new philanthropy. Some of the great older institutions like the Rockefeller Foundation are radically reorganizing around new ideas and opportunities. But still the greatest amount comes from individuals, many of whom are now "giving while living" instead of handing over the task to heirs - The Long Now Foundationmoreless
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