Philanthropy – A Crisis In Confidence?

Some high-profile disputes about how recipients of philanthropy have spent money given to them have been in the news recently. “Not surprisingly, such public disagreements are starting to erode confidence in the nonprofit sector. A recent survey commissioned by Charles Schwab & Company, showed just 10 percent of affluent Americans age 45 and older are now planning to leave all or part of their estates to charities, universities, and other nonprofits. More than five times that number – 56 percent – said they plan to leave nothing to such organizations. Of those, 21 percent said they don’t think the money would be well spent if given to charity.”