This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public's voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America's most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public's faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public''s voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders'' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America''s most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public''s faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public''s voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders'' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America''s most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public''s faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish. Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust. By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish.Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust.By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish.Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust.By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Global tax policy has long determined which states can access the resources necessary to flourish. Today, even the wealthiest states struggle to tax rich individuals and multinationals. Anti-Black racism has enriched affluent states at the expense of marginalized ones and undermined the taxing power of all nations.In a compelling narrative interwoven with personal storytelling, Racial Capitalism and International Tax Law: The Story of Global Jim Crow connects Dr. Martin Luther King Jr.'s metaphor of the "bad check"-representing unfulfilled promises of freedom and equality to Black Americans-to contemporary anti-Black global tax policies. The book uncovers lost connections, such as those between Edwin Seligman, an architect of our global tax system, and the Dunning School, which laid the foundation for Jim Crow laws, and between Stanley Surrey, a Harvard professor and advisor to President John F. Kennedy, and key moments of the Cold War.Furthermore, it takes a global view and reveals how racial panic triggered by African decolonization allowed an exclusive club of white countries to deliver a second bad check to newly sovereign states like Kenya and Nigeria. By circumventing the inclusive one-country, one-vote system of the United Nations, the OECD and its double tax treaty dismantled the generous arrangements that helped Europe rebuild after both World Wars.Racial Capitalism and International Tax Law exposes the surprising role anti-Black racism played in shaping an international tax system that benefits billionaires at the expense of billions of people. This eye-opening account challenges readers to rethink the global tax system and its profound impact on racial and economic justice.

Global tax policy has long determined which states can access the resources necessary to flourish. Today, even the wealthiest states struggle to tax rich individuals and multinationals. Anti-Black racism has enriched affluent states at the expense of marginalized ones and undermined the taxing power of all nations. In a compelling narrative interwoven with personal storytelling, Racial Capitalism and International Tax Law: The Story of Global Jim Crow connects Dr. Martin Luther King Jr.'s metaphor of the "e;bad check"e;-representing unfulfilled promises of freedom and equality to Black Americans-to contemporary anti-Black global tax policies. The book uncovers lost connections, such as those between Edwin Seligman, an architect of our global tax system, and the Dunning School, which laid the foundation for Jim Crow laws, and between Stanley Surrey, a Harvard professor and advisor to President John F. Kennedy, and key moments of the Cold War. Furthermore, it takes a global view and reveals how racial panic triggered by African decolonization allowed an exclusive club of white countries to deliver a second bad check to newly sovereign states like Kenya and Nigeria. By circumventing the inclusive one-country, one-vote system of the United Nations, the OECD and its double tax treaty dismantled the generous arrangements that helped Europe rebuild after both World Wars. Racial Capitalism and International Tax Law exposes the surprising role anti-Black racism played in shaping an international tax system that benefits billionaires at the expense of billions of people. This eye-opening account challenges readers to rethink the global tax system and its profound impact on racial and economic justice.

This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public's voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America's most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public's faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public''s voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders'' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America''s most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public''s faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

This book exposes a migration of business practices, players, and norms into philanthropy that strains the regulatory regime sustaining public trust in elite generosity through accountability and transparency and proposes legal reforms and private solutions to restore it.Practices, players, and norms native to the business sector have migrated into philanthropy, shattering longstanding barriers between commerce and charity. Philanthropies organized as limited liability companies, donor-advised funds sponsored by investment company giants, and strategic corporate philanthropy programs aligning charitable giving by multinationals with their business objectives paint a startling new picture of elite giving. In For-Profit Philanthropy, Dana Brakman Reiser and Steven A. Dean reveal that philanthropy law has long operated as strategic compromise, binding ordinary Americans and elites together in a common purpose. At its center stands the private foundation. The authors show how the foundation neatly combines donor autonomy with a regulatory framework to elevate the public''s voice. This framework compels foundations to spend a small but meaningful portion of the assets their elite donors have pledged to the public each year. Prophylactic restrictions separate foundations from their funders'' business and political interests. And foundations must disclose more about the sources and uses of their assets than any other business or charity. The philanthropic innovations increasingly espoused by America''s most privileged individuals and powerful companies prioritize donor autonomy and privacy, casting aside the foundation and the tools it provides elites to demonstrate their good faith. By threatening to displace impactful charity with hollow virtue signaling, these actions also jeopardize the public''s faith in the generosity of those at the top. Private ordering, targeted regulation, or a new strategic bargain could strike a modern balance, preserving the benefits of the compromise between the modest and the mighty. For-Profit Philanthropy offers a detailed roadmap to show how it can be accomplished.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish. Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust. By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish.Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust.By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish.Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust.By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.

Global tax policy has long determined which states can access the resources necessary to flourish. Today, even the wealthiest states struggle to tax rich individuals and multinationals. Anti-Black racism has enriched affluent states at the expense of marginalized ones and undermined the taxing power of all nations.In a compelling narrative interwoven with personal storytelling, Racial Capitalism and International Tax Law: The Story of Global Jim Crow connects Dr. Martin Luther King Jr.'s metaphor of the "bad check"-representing unfulfilled promises of freedom and equality to Black Americans-to contemporary anti-Black global tax policies. The book uncovers lost connections, such as those between Edwin Seligman, an architect of our global tax system, and the Dunning School, which laid the foundation for Jim Crow laws, and between Stanley Surrey, a Harvard professor and advisor to President John F. Kennedy, and key moments of the Cold War.Furthermore, it takes a global view and reveals how racial panic triggered by African decolonization allowed an exclusive club of white countries to deliver a second bad check to newly sovereign states like Kenya and Nigeria. By circumventing the inclusive one-country, one-vote system of the United Nations, the OECD and its double tax treaty dismantled the generous arrangements that helped Europe rebuild after both World Wars.Racial Capitalism and International Tax Law exposes the surprising role anti-Black racism played in shaping an international tax system that benefits billionaires at the expense of billions of people. This eye-opening account challenges readers to rethink the global tax system and its profound impact on racial and economic justice.

Global tax policy has long determined which states can access the resources necessary to flourish. Today, even the wealthiest states struggle to tax rich individuals and multinationals. Anti-Black racism has enriched affluent states at the expense of marginalized ones and undermined the taxing power of all nations. In a compelling narrative interwoven with personal storytelling, Racial Capitalism and International Tax Law: The Story of Global Jim Crow connects Dr. Martin Luther King Jr.'s metaphor of the "e;bad check"e;-representing unfulfilled promises of freedom and equality to Black Americans-to contemporary anti-Black global tax policies. The book uncovers lost connections, such as those between Edwin Seligman, an architect of our global tax system, and the Dunning School, which laid the foundation for Jim Crow laws, and between Stanley Surrey, a Harvard professor and advisor to President John F. Kennedy, and key moments of the Cold War. Furthermore, it takes a global view and reveals how racial panic triggered by African decolonization allowed an exclusive club of white countries to deliver a second bad check to newly sovereign states like Kenya and Nigeria. By circumventing the inclusive one-country, one-vote system of the United Nations, the OECD and its double tax treaty dismantled the generous arrangements that helped Europe rebuild after both World Wars. Racial Capitalism and International Tax Law exposes the surprising role anti-Black racism played in shaping an international tax system that benefits billionaires at the expense of billions of people. This eye-opening account challenges readers to rethink the global tax system and its profound impact on racial and economic justice.