Making It Easier to Give to Non-Profits
In a recent announcement, billionaire Eli Broad, former chairman of insurer SunAmerica Inc., and his wife, Edythe, pledged to donate 75 percent of their wealth to philanthropic causes during and after their lifetimes. "Philanthropy is unbelievably rewarding, and we hope others will also realize the benefits of being active, engaged philanthropists," their statement read.
The Broads' actions are highly commendable, responding to "The Giving Pledge" initiated by Warren Buffett urging the super rich to charitably gift their fortunes. While multi-billion dollar pledges grab attention, indications are that generosity abounds at levels far below the mega wealthy. Even as the country slowly recovers from the recession, donations to the country's largest charities grew rapidly in the first quarter of 2010 compared with the same quarter last year, says a study in The Chronicle of Philanthropy.