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Thursday, July 8, 2010

Give It Away, Give It Away, Give It Away, NOW!

The Atlantic Philanthropies, a well-known and much respected foundation, had its beginnings in the early 1980s when it was established with a gift from an anonymous donor. Eventually, it was discovered that the donor behind this foundation, which has made grants totaling more than $5 billion, is Chuck Feeney and that he gave virtually all of his money to the foundation. In fact, Mr. Feeney is so committed to his charitable pursuits that he owns neither a home nor a car!

More recently, the foundation has made an even bolder move. It plans to spend its entire endowment and close shop by 2020. Why this dramatic course of action? Because Mr. Feeney and the foundation believe in Giving While Living – the concept that major problems can be solved sooner and more easily if we make investments in solutions now.
But the foundation doesn’t want to stop there. They hope to inspire others to embrace this philosophy. To assist with that effort, they’ve published a report, Turning Passion Into Action: Giving While Living, that discusses the impact of giving in this way as well as tips for donors who are interested in putting this concept into practice. It even includes a slide show of several donors who embrace this philosophy.
What do you think? Is “Giving While Living” a good idea for the sector? Do you practice this concept?

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