New Frontiers of Philanthropy: A Guide to the New Tools and New Actors that Are Reshaping Global Philanthropy and Social Investing

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9780199357543: New Frontiers of Philanthropy: A Guide to the New Tools and New Actors that Are Reshaping Global Philanthropy and Social Investing

With the resources of both governments and traditional philanthropy barely growing or in decline, yet the problems of poverty, ill-health and environmental degradation ballooning daily, it is increasingly clear that new models for financing and promoting social and environmental objectives have become urgently needed.

Fortunately, however, a significant revolution appears to be underway in the way in which social and environmental purposes are being financed. The heart of this revolution is a massive explosion in the instruments and institutions being deployed to mobilize private resources in support of social and environmental objectives. Where earlier such support was limited to charitable gifts, now a bewildering array of new instruments and institutions has surfaced-loans, loan guarantees, private equity, barter arrangements, social stock exchanges, bonds, secondary markets, investment funds, and many more-all of them designed to leverage not just the tens of billions of dollars of philanthropic grants but the hundreds of billions, indeed trillions, of dollars of private investment capital.

While the changes under way are inspiring and by no means trivial, however, they remain largely uncharted in any systematic fashion. This monograph, and of the companion volume for which it also serves as the introductory chapter, is designed to overcome this problem, to provide the first comprehensible and accessible roadmap to the full range of important new developments taking place on the frontiers of philanthropy and social investment. In the process, it seeks to broaden awareness of these developments, increase their credence and traction, and make it possible to maximize the benefits they can generate while acknowledging the limitations and challenges they also face.

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Recensione:

Lester Salamon's insightful identification and scholarly analysis of a hitherto invisible revolution underway on the frontiers of philanthropy and social investing is possibly the most exciting and fresh lens we have had to date with which to look at an important set of new developments in the social-purpose arena that up to this point have largely been neglected. Salamon's work should help usher in a new era of social-purpose finance, the end result of which may be new alliances among foundations, governments, and the managers of private investment capital to leverage substantial new resources into efforts to solve problems of poverty, ill-health, and environmental degradation the world over. New Frontiers of Philanthropy is truly cutting edge research that should be read and disseminated widely. ( Gerry Salole, Chief Executive, European Foundation Centre)

The past 25 years have seen dramatic changes in the field, and practice, of charitable giving. The next 25 years promise even further change-and at a more rapid pace. New Frontiers of Philanthropy is the book that will best help practitioners and observers in the public, private, and nonprofit sectors understand, in detail, how the current dramatic changes in the financing of social-purpose activities will fully play out. ( Doug Bauer, Executive Director, The Clark Foundation, and former Senior Vice President, Rockefeller Philanthropy Advisers)

Philanthropy today is changing radically. A new breed of donors is emerging that wants to leverage its resources to change the status quo. They think of themselves as social investors and operate like entrepreneurs, tapping new financial resources and assembling complex financing packages. With New Frontiers of Philanthropy, Lester Salamon has given us the resource we need to understand this changing face of philanthropy and social investment. It is a superbly articulated effort drawing on Salamon's experience as a researcher and visionary and giving all of us who want to bring real progress to individuals and communities a clear path to the new world of social purpose finance that lies before us. ( Marcos Kisil, President, Instituto para o Desenvolvimento do Investimento Social, Brazil)

This book provides a clear and accessible roadmap to the full range of new developments in impact investing and philanthropy. The broadest community of investors and foundations as well as a new generation of social entrepreneurs, nonprofit executives, and government officials will benefit from the depth and breadth of this work, enabling them to develop the know-how to better navigate the new and emerging opportunities for meaningful impact. ( Charly Kleissner, Ph.D., Co-Founder KL Felicitas Foundation, Toniic, 100% IMPACT Network)

L'autore:

Director, Center for Civil Society Studies, Institute for Policy Studies, Johns Hopkins University, and Editor, The Tools of Government

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