The changes are taking the form of new sorts of funds where ‘donors' still get a return.

They include bonds resulting in community housing being built, investments in education and health and ‘impact investment'.

Today, strategic giving is helping bridge the massive gap in government funding for social services - estimated to be a $630 million shortfall.

It's philanthropy in action, but not in a traditional way, says James Palmer, who runs a business called Community Finance.

Palmer's business raises hundreds of millions of dollars from wealthy people and wealth funds. He then puts the money into building houses for those who need them most.

The result is what he calls a win-win.

Investors buy bonds and get a return for the money they put in. Community housing providers like the Salvation Army and Habitat for Humanity get the funding they need to build affordable homes to scale.

"We've got more money than ever in the country, we have some proven solutions and we have growing need. How do we join the dots between those three?" Palmer asks.

"Philanthropy being effective and scaling up and innovating is going to be really critical, particularly with what we're going through," he says.

Palmer says he taps into his network of philanthropic individuals to help finance the housing projects, but "the power" is with the KiwiSaver funds and fund managers.

Wealth manager company JBWere reported last month that in 2018 the charitable and for-purpose sector was worth $12.1 billion to our GDP.

Given the growing number of wealthy people in New Zealand and what's about to be the greatest intergenerational transfer of wealth in history, as baby boomers reach the end of their lives, what's the likelihood of the charitable sector benefiting?

JBWere head of philanthropy John Morrow thinks there may be some large increases in giving from the wealthy coming up.

He's already seeing growth in family philanthropy and says bequests are also set to become more significant with the latest figures showing half of all the money donated in New Zealand comes from everyday Kiwis.

Only 15 percent comes from corporates.

A National Business Review journalist Nicky Shepheard says many on the list of New Zealand's wealthiest prefer to be discreet about their philanthropy.

She says it is not clear how much those on the rich list give in total.

Source

• RNZ
• Image: One Donor

Nearly 25 years later, both the founders had passed away and their seven children assumed control of the foundation.

Michael Wolohan, the youngest of his siblings and the foundation's president, said his parents imbued the foundation with "a Catholic-informed perspective," which for the Wolohan siblings meant focusing on "the corporal works of mercy: to feed the hungry, to give water to the thirsty, homes for the homeless."

Ensuring that their parents' commitment to their Catholic faith continued through the Michigan-based foundation was key.

With Michael and his siblings now north of age 65, they are preparing to hand control over to a new cohort of descendants who do not know the founders as intimately and who came of age in a radically different world.

Catholic ministries face an uncertain financial future as religiosity decreases among younger Americans—including, perhaps, descendants of prominent Catholic philanthropic leaders.

This process can present challenges not just for the Wolohan family, but for other private Catholic family foundations throughout the country, which each year disburse tens of millions of dollars to Catholic ministries.

Those ministries could face an uncertain financial future, some analysts say, as religiosity decreases among younger Americans—including, perhaps, descendants of prominent Catholic philanthropic leaders.

While there are no definitive estimates of how much foundation money makes its way to Catholic-affiliated organizations each year, it likely runs into the billions.

According to the Catholic Funding Guide, an online subscription-based search tool listing foundations that include Catholic ministries and organizations in their giving portfolios, about 2,200 of these private foundations, church-based grantmakers, religious communities and international funders control assets of more than $39 trillion and annually give more than $14 billion in support.

President of the US Catholic Bishops Conference, Archbishop Gomez (above), has a serious misunderstanding, and perhaps even a willed ignorance, about the goals and motivations of contemporary social justice movements. However, a leading theologian at Fordam University theology, Fr Bryan Massingale says "most Black Catholics I know advocate Black Lives Matter precisely because of our belief in the universal human dignity of all people as images of God."

Gen next

"We know engaging the next generation is beneficial to everybody, and it strengthens our mission," said Maria Raskob.

Ms. Raskob chairs the board of the Catholic philanthropic consortium Fadica (Foundations and Donors Interested in Catholic Activities) and is herself a fourth-generation descendant of one of the nation's prominent Catholic philanthropic families.

"Part of that engagement is passing on faith and values that began with the foundation and has been incorporated in everything that we do," she said.

John and Helena Raskob founded the Raskob Foundation for Catholic Activities in 1945.

The foundation has disbursed more than $200 million to Catholic organizations since its founding.

Now the Delaware-based foundation operates with a membership model: Descendants of John and Helena can be as involved as much or as little in the grantmaking process as they desire. Making sure that younger members of the family want to participate—and that they understand the intent of the founders—is a key priority for the Raskob Foundation.

And that formation starts young.

"The next generation is exposed [to] and involved with the foundation at a really early age," Ms. Raskob said.

Some parents bring their children to service events organized by the foundation or even to annual meetings.

Once descendants turn 18, they are able to participate in more formal ways as well, exposing them to the church's vast social justice ministry. That can help forge strong bonds, she said, between family members and the institutional church, even if the individual descendant is not religious.

"What younger members, and any members, see is Catholic social teaching in action," she said, learning how it "covers health care, social services, peace and justice, and environmental issues."

"This is inspiring to witness, and all members are able to find aspects of the work that are appealing to them," Ms. Raskob said.

Maria Raskob: "We know engaging the next generation is beneficial to everybody, and it strengthens our mission." Continue reading

The Warehouse Group founder Sir Stephen Tindall and Hire Things founder Peter Torr Smith are two of 174 millionaires to have signed the document so far.

The open letter said: "Today, we, the undersigned millionaires, ask our governments to raise taxes on people like us. Immediately. Substantially. Permanently."

The letter says as Covid-19 strikes the world, millionaires have a critical role to play.

"So please. Tax us. Tax us. Tax us. It is the right choice. It is the only choice."

"No, we are not the ones caring for the sick in intensive care wards. We are not driving the ambulances that will bring the ill to hospitals. We are not restocking grocery store shelves or delivering food door to door."

"But we do have money, lots of it. Money that is desperately needed now and will continue to be needed in the future."

It goes on to stress that the pandemic crisis cannot be solved with charity alone - no matter how generous people around the world were.

They say it was the responsibility of governments and world leaders to raise the funds needed and to go onto spend and spread those funds out equally and fairly.

Statistics NZ in 2018 said while the wealthiest 20 per cent had seen their fortunes skyrocket, the wealth of the bottom 40 percent of Kiwis hadn't changed in years.

An Oxfam report, in 2018, found one per cent of New Zealanders own 28 per cent of new wealth generated the previous year - while the poorest 30 percent only got one percent of it.

Last month, the Green Party unveiled a Guaranteed Minimum Income (GMI) policy designed to address this inequality, which would be paid for by increasing taxes on the very wealthiest members of society.

They say it would raise $7.9 billion in its first year, "covering the GMI's costs."

The plan has been widely admonished, with members of National and ACT labelling it an "envy tax" and Prime Minister Jacinda Ardern saying it makes "fairly heroic assumptions."

Read the letter "Millionaires for Humanity."

Source

• newshub.co.nz
• stuff.co.nz
• nzherald.co.nz
• Image: newshub.co.nz

His funeral Mass was celebrated at the Cathedral of the Immaculate Conception, Mulivai.

Grey was the unassuming but astute businessman who took the legendary Aggie Greys Hotel started by his mother during the Second World War and turned it into a South Seas icon.

He was also very passionate about rugby - and even earned the nickname Mr Rugby. He coached, trained, and mostly funded Manu Samoa in its international infancy years.

Grey was also a generous supporter of Catholic education in Samoa.

As well as making a significant financial contribution, he also gave much of his time providing practical advice and guidance.

He was awarded Samoa's highest honour, the Western Samoa Order of Merit, in 1993 for his services not only to tourism but to rugby.

In his eulogy, son Lupesina Frederick Grey remembered the legacy his father left behind for him and his family.

"He said 'Son, I was born a simple man. I will walk and die a simple man. Never forget, treat people with respect and humility.'"

It is La'auli's humility that people remember.

He acknowledged his father's love for the people of Samoa and those he had a chance to help.

"It was always people first, and him last," said Lupesina.

He said his father told him that life was all about people and helping fellow human beings.

"But above all, be honest and sincere to everyone, no matter how rich, poor, or what colour they are, everyone's the same to me."

Source

• radionz.co.nz
• talamua.com
• talanei.com
• loopsamoa.com
• Image: samoaobserver.ws

Sir Patrick Goodman was the founding chairman of Quality Bakers New Zealand, which merged with Fielder Gillespie Davis and Allied Mills of Australia and Wattie Industries to become Goodman Fielder Wattie in 1987.

Nearly 400 people filled St Peter Chanel Catholic Church for the service on Monday morning. Continue reading

Famous and not-so-famous wealthy individuals have generously given billions, established trusts, foundations, and charities.

However, based on the available figures, it's ordinary Kiwis who give the most to the philanthropic sector. Continue reading

His family supports his philanthropy, which will see him giving away most of his fortune.

"Inheritance has never really made sense to me," one of his children says.

"You watch it tear families apart and it baffles me. You're not entitled to that money, you haven't earned it, you haven't worked for it - I don't see why you think it should be yours. So we all agreed to give it all away. Read more

His legacy reflects a devout religious side as well as a deep empathy for people, and his love of Northland.

Guy was founding trustee and benefactor of the Catholic Homes Trust which built the Marian Heights Lifestyle Village. This trust is a major provider of emergency housing in Whangarei. Read more

Established in 1789, Georgetown is the USA's oldest Catholic and Jesuit university.

The donation is for the creation of a leadership programme for the university's student-athletes, and to fund a sports field.

"The athletics program at Georgetown has played a significant role in our family's life," he told the university.

The university said Cooper and his wife Susan were the parents of five Georgetown graduates — twins Kylie and Ryan, as well as Matthew, Kris and Adam.

He is a Kaitaia-raised son of a truck driver.

He is of Ngati Kahu, Ngati Kuri and Te Aupouri descent.

Cooper, now in his 60s, got his first taste of the US on a school scholarship and has had a foot in both countries ever since.

A lawyer specialising in commercial and property law, Mr Cooper was formerly executive director of Lion Nathan, chief executive of LD Nathan and joint managing director of Mace Development Corporation.

He practiced law for 11 years and was partner at Auckland law firm Russell McVeagh, where he specialized in commercial and property law.

Cooper made a fortune in real estate and private equity and developed projects including the billion-dollar, 6.5ha Britomart site in downtown Auckland.

He is the founder and Executive Chairman of Cooper and Company.

Cooper and Company is a private investment company, established in 1989, that develops and invests in assets on a long-term ownership basis.

The company has offices Newport Beach, California; Auckland, New Zealand; and Southlake, Texas.

Source

• m.nzherald.co.nz
• cooperandcompany.org
• nbr.co.nbr
• Image: nbr.co.nz

It was 1994, and The Warehouse - the company created by Sir Stephen - went public.

Their family was comfortable, so what was the best way to spend the money?

The couple, always interested in philanthropy, put Mrs Tindall's shares into a trust and the Tindall Foundation was born.

This year the family foundation celebrates 20 years since its first donation. Over that time it has given away $135million. Continue reading

SPIEGEL: Mrs. Gates, how does it feel to be so rich that you can use your money to influence the lives of millions of people?

Gates: Our money looks huge, but it's actually not when you look at the range of projects that we're going after. Bill and I believe philanthropy can only be effective if it starts things and proves whether they actually work or not. That's the place that governments often don't want to, or can't, work. We might take on six candidates for developing a malaria vaccine knowing that five will fall away. But we'll get one hit. And to meet a mom and know that her baby is alive and that we had something to do with it, that feels great.

SPIEGEL: Why didn't you just entrust your fortune to an institution like the media mogul Ted Turner, who donated a billion dollars to the United Nations?

Gates: Bill and I felt like we had something to add from the private sector. He started Microsoft; I worked there for nine years. We felt the private sector has a view of things that is beneficial to this work. You bring a kind of thinking, an entrepreneurial thinking. And then, if it works, governments can scale it up.

SPIEGEL: Are you not challenging the UN's leadership role when it comes to development aid?

Gates: Every single thing we do has to be done with governments. Look, we could go out and spend the entire resource in two years. Gone, done. But would we have a catalytic effect? Would we have left something behind? Would we have saved as many maternal lives or childhood lives? The answer would be no. Continue reading

• Source: Spiegel Online
• Image: GirltalkHQ

The Crown Entities Reform Bill will instead see the regulation of charities carried out by a board within the Department of Internal Affairs.

Members of ComVoices, a network of community and voluntary sector organisations, said it was not too late for the parties that made up the Government to review their support for the clause that will create havoc with the Government's results-based focus.

Ric Odom, Chair of ComVoices, said an amendment was being proposed to defer the changes. The changes would be self-defeating and would simply serve to sabotage the Government's own results-based approach.

Source

• Stuff.co.nz
• Voxy