Robert Frank wrote a new article The Downside of Control-Freak Philanthropy February 24, 2011 Wall Street Journal.
Venture philanthropy has been heralded as a much-needed revolution in the business of giving. Gone are the days of rich people writing checks to nonprofit groups that can spend it as they please. Today's venture philanthropists (a k a social entrepreneurs or philanthrocapitalists) give big but want big returns. Specifically, they want results, accountability and, often, control.
Venture philanthropy has been heralded as a much-needed revolution in the business of giving. Gone are the days of rich people writing checks to nonprofit groups that can spend it as they please. Today's venture philanthropists (a k a social entrepreneurs or philanthrocapitalists) give big but want big returns. Specifically, they want results, accountability and, often, control.
Click here to read the entire article.
Posted by Yi Song, Associate Editor, Wealth Strategies Journal.
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