Posts Tagged ‘Philanthrocapitalism’

Matthew Bishop and Michael Green put up a great post yesterday on Obama’s plans for philanthropy that came out during GPF last week.  Looking at Sonal Shah and Secretary Clinton’s remarks, they discuss the administration’s attitude toward philanthropy and what this might mean going forward for joint government-philanthropic initiatives.  They applaud most of Secretary Clinton’s outline for a working relationship between the State Department and philanthropy, especially where she argues that we must focus on, “avoiding duplication, learning from each other, [and] maximizing our impact by looking for best practices.”

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An article today on Bloomberg.com explores one of the biggest forces in today’s global philanthropy: hedge fund leaders.  The authors emphasize the weight these hedge fund philanthropists place on results: “If a hedge fund manager is going to give money, we want them to give based on the effectiveness of the charity,” says Martin Brookes, chief executive officer of NPC and a former international economist at Goldman. “There is much more focus on what the money achieves.”

The article details some pretty inspiring results from the work of leaders in the field, including Chris Cooper-Hohn of The Children’s Investment Fund LLP or TCI, and the Children’s Investment Fund Foundation, or CIFF, run by his Harvard-educated wife, Jamie Cooper-Hohn.  One example highlighted is that of a 3.7 million pound grant in 2005 from CIFF to the Clinton Foundation which enabled the Clinton Foundation – together with a coalition of government and nonprofit agencies – to reduce the price of a year’s dosage of antiretroviral drugs to $180 from $1,500.

These hedge fund leaders vow that they will continue their philanthropy in these difficult times, even though their investments may suffer.  Let’s hope they mean it.

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There’s an interesting discussion going on at Paul Brest‘s Strategic Philanthropy blog on The Huffington Post.  He and colleague Sean Stannard-Stockton of Tactical Philanthropy are discussing Paul’s 8 point framework for strategic philanthropy.  The main point of contention at this point centers around the validity of using a static “theory of change” in the dynamic, ever-changing social landscape in which philanthropy operates.

We look forward to a lively exchange on all sides – between Paul and Sean, and from reader contributions to the discussion.

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