Phil Buchanan, author of ‘Giving Done Right,’ offers advice on how to give wisely.
It was once safe to assume that giving money to charity was perceived as a worthy act, but in recent years a growing debate has gnawed away at that idea.
Phil Buchanan, the director of the nonprofit Center for Effective Philanthropy, addresses some of these critiques in his new book, “Giving Done Right: Effective Philanthropy and Making Every Dollar Count.” Fewer middle-income and lower-income households are giving money to charity, while richer donors proliferate, making bigger and bigger donations. We all have things we have to do. If your niece is raising money for her school project and asks you to make a contribution, you’re going to do it because it’s your niece. But you’ve got to limit that kind of giving if you want to really pursue some goals that are important to you.
MarketWatch: In New York State’s recent lawsuit against opioid makers, Attorney General Tish James alleged that the Sackler family, the owners of OxyContin-maker Purdue Pharma, made major donations to museums including the Guggenheim and the Metropolitan Museum of Art to “whitewash their decades long success in profiting at New Yorkers’ expense.” How does that affect philanthropy as a whole?
MarketWatch: There’s a lot of critique right now that mega-donors hurt democracy by advancing their own agenda at the expense of others. Are mega-donors are problem in your view? Many of these critiques don’t even mention the well over 1 million nonprofit organizations that are affected by the decisions that people make about giving.
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