New Frontiers of Philanthropy

Gerry Salole, Chief Executive, European Foundation Centre Lester Salamon's insightful identification and scholarly analysis of a hitherto invisible revolution underway on the frontiers of philanthropy and social investing is possibly the most exciting and fresh lens we have had to date with which to look at an important set of new developments in the social-purpose arena that up to this point have largely been neglected. Salamon's work should help usher in a new era of social-purpose finance, the end result of which may be new alliances among foundations, governments, and the managers of private investment capital to leverage substantial new resources into efforts to solve problems of poverty, ill-health, and environmental degradation the world over. New Frontiers of Philanthropy is truly cutting edge research that should be read and disseminated widely.

Doug Bauer, Executive Director, The Clark Foundation, and former Senior Vice President, Rockefeller Philanthropy Advisers The past 25 years have seen dramatic changes in the field, and practice, of charitable giving. The next 25 years promise even further change-and at a more rapid pace. New Frontiers of Philanthropy is the book that will best help practitioners and observers in the public, private, and nonprofit sectors understand, in detail, how the current dramatic changes in the financing of social-purpose activities will fully play out.

Marcos Kisil, President, Instituto para o Desenvolvimento do Investimento Social, Brazil Philanthropy today is changing radically. A new breed of donors is emerging that wants to leverage its resources to change the status quo. They think of themselves as social investors and operate like entrepreneurs, tapping new financial resources and assembling complex financing packages. With New Frontiers of Philanthropy, Lester Salamon has given us the resource we need to understand this changing face of philanthropy and social investment. It is a superbly articulated effort drawing on Salamon's experience as a researcher and visionary and giving all of us who want to bring real progress to individuals and communities a clear path to the new world of social purpose finance that lies before us.

Charly Kleissner, Ph.D., Co-Founder KL Felicitas Foundation, Toniic, 100% IMPACT Network This book provides a clear and accessible roadmap to the full range of new developments in impact investing and philanthropy. The broadest community of investors and foundations as well as a new generation of social entrepreneurs, nonprofit executives, and government officials will benefit from the depth and breadth of this work, enabling them to develop the know-how to better navigate the new and emerging opportunities for meaningful impact.

Director, Center for Civil Society Studies, Institute for Policy Studies, Johns Hopkins University, and Editor, The Tools of Government (OUP, 2002 - 7,094 sold for $236,055 in revenue)

TABLE OF CONTENTS ; List of Illustrations ; Acknowledgements ; Foreword ; William Dietel ; Preface ; Mario Morino ; Directory of Participants ; PART 1: INTRODUCTION ; 1. The Revolution on the Frontiers of Philanthropy: An Introduction ; Lester M. Salamon ; PART 2: NEW ACTORS ; 2. Capital Aggregators ; Lisa Richter ; 3. Secondary Markets ; David J. Erickson ; 4. Social and Environmental Exchanges ; Durreen Shahnaz, Robert Kraybill, and Lester M. Salamon ; 5. Foundations as <"Philanthropic Banks>" ; Lester M. Salamon and William Burckart ; 6. Enterprise Brokers ; Lisa Hagerman and David Wood ; 7. Capacity Builders and Venture Philanthropy ; Melinda T. Tuan ; 8. Online Portals and Exchanges ; Vince Stehle ; 9. Corporate-Originated Charitable Funds ; Rick Cohen ; 10. Funding Collaboratives ; Angela M. Eikenberry and Jessica Bearman ; PART 3: NEW TOOLS ; 11. Overview: The New Tools of <"Philanthropy>" ; Luther Ragin ; 12. Loans, Loan Guarantees, and Credit Enhancements ; Norah McVeigh and Julia Sass Rubin ; 13. Fixed-Income Securities ; Shari Berenbach and Elise Balboni ; 14. Securitization ; Mary Tingerthal ; 15. Private Equity Investments ; Monica Brand and John Kohler ; 16. Social Impact Bonds/Pay-for-Success ; Drew von Glahn and Caroline Whistler ; 17. Insurance ; Craig Churchill and Lauren Peterson ; 18. Socially Responsible Investing and Purchasing ; Steve Lydenberg and Katie Grace ; 19. Grants ; Peter Frumkin ; PART 4: CROSS-CUTTING ISSUES ; 20. Who Gains, Who Loses? Distributional Impacts of the New Philanthropic Marketplace ; Part A: Mike Edwards ; Part B: Matthew Bishop and Michael Green ; 21. The Demand Side of the Philanthropic Marketplace ; Alex Nicholls and Rodney Schwartz ; 22. The Elusive Quest for Impact: The Evolving Practice of Social Impact Measurement ; Brian Trelstad ; 23. The New Frontiers of Philanthropy in Global Perspective ; Maximilian Martin ; 24. Creating a More Enabling Environment: A Policy Agenda for the New Frontiers of Philanthropy ; Shirley Sagawa ; Glossary of Terms ; Bibliography ; Index