The growth of venture philanthropy

: "The growth of venture philanthropy
Tuesday, November 16, 2004 3:10 PM EST




Over the eons, as man transcended from survival level subsistence to varying degrees of surplus, charitable works took on new dimensions. Aristotle said, 'To give money away is an easy matter, and in any man's power. But to decide to whom to give it, and how large and when, and for what purpose and how, is neither in every man's power -- nor an easy matter. Hence it is that excellence is rare, praiseworthy and noble.'

Economists and social scientists have long pondered the motivations behind philanthropy. Why would a person work hard to create wealth, only to give it away? Religion is one answer. But as Robert (Bob) Buford explained in his 1994 book, Halftime, the desire to change one's game plan after age 50 from 'success to significance' offers intriguing ponderances for future planning. "