September 21, 2000 | Read Time: 1 minute
When stars want help giving away their fortunes, they turn to Marc Pollick, head of the Giving Back Fund in Boston, says Forbes magazine (September 18).
The Giving Back Fund works like a community foundation, allowing celebrities to set up accounts administered by the fund that can then be used to make donations.
Mr. Pollick’s 29 clients include teenage singers Britney Spears and ‘Nsync’s Justin Timberlake, as well as Buffalo Bills quarterback Doug Flutie.
Forbes reports that after just three years in business, Mr. Pollick expects to take in $10-million in charitable contributions this year and distribute roughly the same amount in grants.
Why is Mr. Pollick so popular?
“Quick start-up, low overhead, and no scandal,” writes the magazine. Giving Back’s administrative fees are charged on a sliding scale, starting at 5 percent for the minimum donation of $250,000 and going down to 1 percent for gifts over $5-million. In return, the Giving Back Fund handles all of the paperwork and helps provide information about charities of interest to donors.
“Giving Back is still small beer in charitable circles,” Forbes writes, “but the aggressive Pollick thinks big.” He’s opening a second office in Los Angeles and is drawing up plans for an on-the-job drive that would allow workers to contribute to celebrity charity accounts through his fund.
The article is available at http://www.forbes.com.
