May 25, 2009
Redirecting Art Musem Donations to Foodbanks
The May 21, 2009, issue of the New York Times has an interesting article about how wealthy individuals are making giving decisions during a time of downsized investment portfolis. Here is an excerpt from the article:
Peter Frumkin, a sociologist at the Lyndon B. Johnson School of Public Affairs at the University of Texas, says donors operate from either of two “master theories of giving.”
“One theory is direct service to individuals; the other is change through advocacy and public education,” said Professor Frumkin, the author of “Strategic Giving.”
“In tough times,” he said, “people tend to gravitate toward direct service because they want something concrete from their giving.”
Direct service, he added, “is like buying bonds, and advocacy like growth stocks, and so in tough times donors rebalance their giving portfolios into safer investments.”
Assuming you still have the capacity to give, three techniques you can consider are conversion, deferral and triage.
For the entire article, see "Smart Giving in a Troubled Climate" in the May 21, 2009, issue of the new York Times.
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