July 22, 2004 | Read Time: 2 minutes
The Future of Philanthropy: Economics, Ethics, and Management
by Susan U. Raymond
This collection of brief essays covers ethical and management concerns facing grant makers and nonprofit organizations. Susan U. Raymond, managing director of research, evaluation, and strategic planning at Changing Our World, a philanthropy-services company in New York, also discusses how nonprofit groups are affected by the economy and government policies and argues that foundations should emphasize effectiveness in their grant making.
The book includes data about the nonprofit world, such as statistics on giving by individuals, foundation assets, and charity expenses. Ms. Raymond says that as the government looks to philanthropy to play a more active role in tackling social problems, it is essential that the public gain an empirical understanding of the nonprofit field.
Ms. Raymond also advocates greater competition among nonprofit groups. In some cases, she suggests, society would be better served if inefficiently run charities were to fail or merge because of market pressures, rather than be sustained by philanthropic dollars. She gives a hypothetical example of two nonprofit hospitals in the same locale that receive sufficient charitable donations to stay afloat even though each has only half its beds occupied at any given time.
At the same time, Ms. Raymond says that grant makers can support services that might be neglected by businesses. She says that foundations can and should take on riskier projects that governments or companies avoid — such as financing the early stages of medical research or experimenting with new ways to reach and provide services to undocumented workers.
Other subjects in the book include the lack of diversity on boards, support for education and academic research, international giving, and corporate philanthropy.
Publisher: John Wiley & Sons, 111 River Street, Hoboken, N.J. 07030; (877) 762-2974; http://www.wiley.com; 320 pages; $55; I.S.B.N. 0-471-63855-2.
