‘Forbes’: Prizewinning Philanthropy

The number of prizes that wealthy donors are creating through their philanthropies seems to be expanding, says Forbes magazine in its latest ranking of the 400 richest Americans (October 9).

Among the prizes created in the 1990’s, according to the magazine: The Blasker Award, which gives $250,000 to people who enhance local quality of life and was started by Samuel Blasker, a San Diego engineer; the Goldman Environmental Prize, which gives awards of $125,000 to environmental activists, and was started by Richard and Rhoda Goldman, a San Francisco couple; and the $50,000 Prize for Civil Courage, created by John Train, a New York investment counselor and his Northcote Parkinson Fund.

Forbes asked Mr. Train to discuss what he learned from his first year of giving the prize, which he says is designed to recognize people who demonstrate “extended resistance to evil, at great personal risk.”

The key lesson for donors, he says, is to start “with your own passions.” Too often, he told the magazine, “wealthy personalities are approached by p.r. people who have an idea or a pocket cause. ‘How about cruelty to cats? Let’s have a prize for babies disordered by lead paint.’ These are themes cooked up simply to get inches in Women’s Wear Daily.”

Also important, he says, is to “consult people who know the world and will tell you what they really think.”

The article is available at http://www.forbes.com.