Philanthropy Roundup: July 2018

Inclusive Economic Development
Economic development consultants have identified three key principles for engaging in homegrown inclusive economic development.

If you’re a philanthropist, your schedule might make it hard to keep up with the latest news, topics and emerging trends in the world of giving back.

That’s why we’re making it easier for you to stay current.

Our “Philanthropy Roundup” posts highlight stories – at the local and national level – that are valuable to our readers and will keep you up to date in the world of philanthropy. Check out the articles below.

Philanthropy Roundup

Warren Buffett Donates $3.4 Billion to Charities in Latest Gift
Warren Buffett contributed $3.4 billion to five charities as the investor continues making good on a pledge to give away all of his Berkshire Hathaway Inc. shares. Buffett, 87, has donated a total of about $31 billion to the foundations, according to a statement Monday from Berkshire, where he is chief executive officer and chairman.

Daughters Carry on Parents’ Tradition of Giving
The San Diego Union-Tribune
When they were growing up, the three daughters of Dan and Violet McKinney learned from their parents’ example that generosity is expected of those blessed with good fortune. So, in honor of their late parents who were donors of The San Diego Foundation, sisters Norinne McKinney, Molly McKinney Schulze and Gayle McKinney Peterson carried on their family’s tradition of philanthropy with more than $10 million in recent gifts to their parents’ favorite local charities.

Clear Strategy Could Make This The “Century of Philanthropy” – If It’s Money Well Spent
The inevitable forces of aging and demography mean that baby boomers will soon pass on around $1 trillion per year to their kids, relatives and charities. Add on the sudden rise of large philanthropies funded by the tech boom’s leaders, and America has a booming business in philanthropy. Since philanthropy is evolving, it is worth rethinking what works in philanthropy and why it works – but also what fails.

What Does Inclusive Economic Development Look Like?
Nonprofit Quarterly
Collectively, cities and states in the U.S. spend upwards of $80 billion annually on tax incentives, an amount equivalent to the GDP of the state of Hawaii. Yet, some research shows that incentives have little-to-no impact on job creation at all. But what is the alternative? Two economic development consultants identify three key principles for engaging in homegrown inclusive economic development.

Tune in Tuesday, July 24 at 1PM on Facebook Live for a discussion about how an inclusive workforce will strengthen San Diego’s regional economy.

“Ready to Make Our Mark.” An Immigrant Group Becomes a Powerful Force in Philanthropy
Inside Philanthropy
A few years back, the “golden age” of Southern California philanthropy was predicted as imminent. Recent developments suggest that the stars have finally aligned. While entertainment fortunes are larger than ever, big money has also been made in real estate, healthcare, tech, and finance. Thanks to a surge in arts philanthropy, the city has become one of the “four major cultural capitals of the world.” While universities have been the major beneficiaries of large-scale giving, less headline-grabbing drivers behind the Southern California’s philanthropic boom include the region’s growing influence of Iranian-American donors.