June 26, 2015. Sean Parker, age 37 at the time of writing, is the founder of Napster, former president of Facebook, and a tech entrepreneur and investor.
1
For more examples like these, see Joel L. Fleishman, J. Scott Kohler, and Steven Schindler, Casebook for The Foundation: A Great American Secret (New York: Public Affairs Books, 2007).
2
See Waldemar A. Nielsen, Golden Donors: A New Anatomy of the Great Foundations (New York: Routledge, 2001).
3
Sean Parker, “Philanthropy for Hackers,” The Wall Street Journal, June 26, 2015. Sean Parker, age 37 at the time of writing, is the founder of Napster, former president of Facebook, and a tech entrepreneur and investor.
4
For example, see John J. Havens and Paul G. Schervish, A Golden Age of Philanthropy Still Beckons: National Wealth Transfer and Potential for Philanthropy Technical Report (Boston College Center on Wealth and Philanthropy, 2014); Leslie R. Crutchfield, John V. Kanna, and Mark R. Kramer, Do More Than Give: The Six Practices of Donors Who Change the World (San Francisco: Jossey‐Bass, 2011); Leslie Lenkowsky, “Big Philanthropy,” The Wilson Quarterly 31(1) (2007): 47–51; Peter Singer, “What Should a Billionaire Give – and What Should You?,” The New York Times Magazine, December 17, 2006.
5
Emmanuel Saez and Gabriel Zucman, “Wealth and Inequality in the United States Since 1913: Evidence from Capitalized Income Tax Data” (working paper 20625, National Bureau of Economic Research, Washington, D.C., 2014).
6
Chuck Collins and Josh Hoxie, Billionaire Bonanza Report: The Forbes 400 and the Rest of Us (Washington, D.C.: Institute for Policy Studies, 2015). Deborah Hardoon, An Economy for the 99% (Oxford, U.K.: Oxfam International, 2017). See also Credit Suisse, Global Wealth Databook 2016 (Zurich: Credit Suisse AG Research Institute, 2016).
7
Saez and Zucman, “Wealth and Inequality.”
8
Lawrence Mishel and Alyssa Davis, Top CEOs Make 300 Times More than Typical Workers (issue brief #399, Economic Policy Institute, Washington, D.C., 2015).
10
The 2016 U.S. Trust Study of High Net Worth Philanthropy (U.S. Trust and Indiana University Lilly Family School of Philanthropy, 2016). John J. Havens, Mary A. O'Herlihy, and Paul G. Schervish, “Charitable Giving: How Much, By Whom, To What, and How?,” in The Nonprofit Sector: A Research Handbook, ed. Walter W. Powell and Richard Steinberg, 2nd ed. (New Haven, CT: Yale University Press, 2006).
11
Havens and Schervish, Golden Age. Note that the $59 trillion figure does not include the full value of assets transferred during the family members' lifetimes, so the total transfer is likely to be higher. Also, this estimate is based on fairly conservative economic projections for the coming decades. Much more wealth could be transferred, in the end.
12
This complex picture of the Gen X and Millennial generational personalities emerges from the considerable cultural commentary and limited scholarly research on these generations. See, for instance, Paul Taylor, The Next America: Boomers, Millennials and the Looming Generational Showdown (New York: PublicAffairs, 2014); Jean Twenge, Generation Me: Why Today's Young Americans Are More Confident, Assertive, Entitled – And More Miserable Than Ever Before, Revised and Updated Edition (New York: Atria, 2014); Neil Howe, “Generation X: Once Extreme, Now Exhausted,” Forbes, August 27, 2014; Joel Stein, “Millennials: The Me Me Me Generation,” Time, May 20, 2013; Christine Henseler, ed., Generation X Goes Global: Mapping a Youth Culture in Motion (New York: Routledge, 2012); Paul Taylor and Scott Keeter, eds., Millennials: Confident. Connected. Open to Change, (Pew Research Center, 2010); Bernard Rosen, Masks and Mirrors: Generation X and the Chameleon Personality (Westport, CT: Praeger, 2001); Neil Howe and William Strauss, Millennials Rising: The Next Great Generation (New York: Vintage Books, 2000).
13
There is some emerging evidence that, on the whole, Gen Xers and Millennials are giving slightly less than previous generations at the same time in their lives. But this finding is for people of all levels of wealth in these generations, not those at the top end. Interestingly, this finding also seems to be true for men only, not women. See Women's Philanthropy Institute, WomenGive16 (Indiana University Lilly Family School of Philanthropy, 2016). As the Appendix shows, two‐thirds of our survey and interview samples were women.
14
Our focus in this book is on the next gen donors who are most active and reflective about their giving at this stage in their lives. See Chapter 12 and the Appendix for the implications – positive and negative – of this limitation of our study.
15
This book builds on our widely cited 2013 report: 21/64 and Dorothy A. Johnson Center for Philanthropy, Next Gen Donors: Respecting Legacy, Revolutionizing Philanthropy (2013); it's available at nextgendonors.org. The report was discussed in articles, blogs, and op‐eds published in the New York Times, Forbes, Chronicle of Philanthropy, Stanford Social Innovation Review, Huffington Post, Alliance, and elsewhere. For summaries we wrote at the time, see Sharna Goldseker and Michael Moody, “Young Wealthy Donors Bring Taste for Risk, Hands‐On Involvement to Philanthropy,” Chronicle of Philanthropy, May 19, 2013, and Amy Clarke et al., “What do the next generation of major donors want?,” Alliance 18(4) (December 2013).
“Philanthropy for Hackers,” The Wall Street Journal, June 26, 2015. Sean Parker, age 37 at the time of writing, is the founder of Napster, former president of Facebook, and a tech entrepreneur and investor.
