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At a time when American society has grown increasingly dependent on philanthropy to fund everything from our most fundamental needs to our highest ideals, two Boston College Law School professors have launched the Forum on Philanthropy and the Public Good to examine public policy issues in charitable giving.
The forum’s inaugural event took place earlier this month, in Washington, DC, where it hosted “The Rise of Donor-Advised Funds: Should Congress Respond?,” which looked at the $50-billion charitable fund sector.
With support from organizations including the Ford Foundation and Carnegie Corporation, Professor of Law Ray Madoff and Adjunct Professor of Law William Bagley said the non-partisan forum will serve as a much-needed philanthropy think tank.
“Philanthropy is often surrounded by a hazy glow,” said Madoff, the forum director and an expert on philanthropy and tax law, whose commentary has appeared in the New York Times, Wall Street Journal and National Public Radio. “People assume that what happens under the umbrella of philanthropy must, by its very nature, be optimally serving the public good. But sometimes the rules governing philanthropy do not produce that result.”
Bringing together scholars, practitioners and policy makers, the Forum on Philanthropy and the Public Good will examine whether the rules governing the philanthropic sector best serve the public good and whether Congress and regulators need to take action. Among the leading issues:
• Donor-advised funds (DAFs), the fastest-growing vehicle for charitable giving, provide benefits to donors and sponsoring institutions, but do they also best serve the public good?
• Private foundations often operate under the endowment model, paying out only income. But this model has come under criticism for what some say is an insufficient response to society’s current needs. Should the law be changed to encourage a faster payout?
• University endowments have grown to unprecedented levels and play an important role in financing charitable activities. But is there a point at which bigger university endowments aren’t necessarily better for society?
The Forum on Philanthropy is committed to a non-partisan approach to promote balanced discussions about philanthropy and the role of Congress in guiding how charitable dollars ultimately reach their intended beneficiaries.
“There has been too little discussion and debate about these fundamental questions surrounding philanthropy,” said Madoff, the author of Immortality and the Law: the Rising Power of the American Dead. “We believe that a strong and open discussion of these issues will ultimately strengthen the role of philanthropy in advancing the common good.”
Additional events sponsored by the Forum on Philanthropy include Philanthropy Boot Camp for Journalists (Nov. 17, at BC Law School), at which leading philanthropy and public policy experts will help journalists navigate the complex web of rules that define the way the philanthropic sector operates; and Giving in Time: Perpetuity, Limited Life, and the Responsibility of Philanthropy to the Present and the Future (in April, at Stanford University’s Center on Philanthropy and Civil Society), a conference that will explore research on a range of issues, including questions regarding the lifespan of foundations and the relative moral demands of the present and future on our philanthropic resources.
A diverse consortium of funders, including large and small public and private foundations, supports the work of the Forum on Philanthropy and the Public Good, including the Ford Foundation, Carnegie Corporation of New York, William and Flora Hewlett Foundation, David Bohnett Foundation, Barr Foundation, Lewis B. and Dorothy Cullman Foundation Inc., Chicago Community Trust, Andrea & Charles Bronfman Philanthropies, and the Community Foundation for Greater Atlanta.
See more information about the Forum on Philanthropy and the Public Good.