Getting Your Name on Building Gets Cheaper as Non-Profits Compete
Bloomberg, by Alexis Leondis
Friday, October 9, 2009
The price of immortality is cheaper these days in the wake of the financial crisis.
Wealthy individuals for centuries seeking posthumous fame have donated money to construct hospitals, parks and college buildings in return for getting their names on projects. Nonprofits and universities may be more willing now to negotiate over how much donors have to give and how long they have to make the payments in exchange for recognition, according to Melissa Berman, president and chief executive officer of Rockefeller Philanthropy Advisors in New York.
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Philanthropists Set Spending Deadlines
The Wall Street Journal
May 21, 2009
By Shelly Banjo
A growing number of philanthropists are adopting spending deadlines and sunset provisions to ensure urgent global needs are addressed in a timely way.
By granting the entirety of funds within a certain period of time, these charitable efforts are looking to have a bigger immediate impact than traditional foundations, which are typically set up to last forever and pay out roughly 5% of assets a year.
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