Philanthropy escalates in the USA

Thousands of American households enjoying relatively new wealth are fuelling a transfer of money unlike anything ever seen in the U.S.A., observers report.

  • Models developed by Paul G. Schervish and John J. Havens of the Social Welfare Research Institute at Boston College predict that $40 trillion to $136 trillion will migrate through generations over the next 50 years – depending on economic growth rates.

  • Schervish estimates that $19.2 trillion to $50.2 trillion of that will be spent on philanthropy by 2052.

  • As much as $6.7 trillion will go to philanthropy over the next 16 years.

  • Experts say new philanthropists want to become more involved in the mission of the beneficiary organisations.

    Several large business schools have increased their course offerings and seminars in non-profit management and strategic planning.

    Observers point out that many of today's millionaires and billionaires have made their money suddenly and at a relatively young age – and their activism and decisions as to how their charitable contributions are allocated will have considerable impact on what our society will look like in the future.

    Source: Stephanie Strom, The Newly Rich Are Fuelling a New Era in Philanthropy, New York Times, April 27, 2002.

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    FMF Policy Bulletin\6 May 2002
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