When Entrepreneurship Meets Charity

The line between charity and business is no longer distinct, as a new generation of “philanthropreneurs” have started to finance major for-profit enterprises that focus on social needs, reports The New York Times.

The article profiles four entrepreneurs who have roots in Internet companies such as Google, eBay, and America Online. Their impatience with the world of traditional foundations and grants is reflected in their new ventures.

For them, even the Bill & Melinda Gates Foundation, started by Microsoft chairman Bill Gates, is viewed as too orthodox. Instead, they pay for projects to develop solar panels, electric cars, or other products that could make a great deal of money for investors. In return, their charitable companies forgo many of the tax breaks traditional nonprofit organizations enjoy.

The article is part of a larger package by the Times about giving, which includes stories about donations by athletes, philanthropic work by young people, and volunteer programs in developing countries.

Also: Google’s decision to operate its philanthropic arm largely as a for-profit enterprise adds new momentum to a growing effort among technology entrepreneurs to blend business and charity, The Chronicle of Philanthropy reports.

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