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With the resources and capabilities of governments and private charity barely growing or in decline around the world, yet the problems of poverty, ill-health, and environmental degradation ballooning daily, it is increasingly clear that new energies, and new resources, are urgently needed to address the world’s pressing social and environmental challenges.
Now a new book, Philanthropication thru Privatization: Building Permanent Endowments for the Common Good by Dr. Lester Salamon of the Johns Hopkins University and the East-West Management Institute, offers a novel solution to this increasingly urgent problem: capture all or a portion of the enormous privatization transactions under way around the world for autonomous charitable endowments serving the social and economic needs of citizens.
Far from an abstract idea, philanthropication thru privatization, or PtP, turns out to be a proven and effective approach for creating or enlarging charitable assets. But it has yet to be recognized as such: until now.
About Philanthropication thru Privatization
In this book, Salamon provides a first conceptualization of the PtP concept and then, working with an international team, documents over 500 foundations around the world that already embody it, including some of the largest and most effective foundations in the world, such as the Volkswagen Foundation in Germany, the sizable network of “foundations of banking origin” in Italy, the important network of “community trusts” in New Zealand, and the 200-odd “health conversion foundations” in the U.S.
The book then draws on 22 case studies to identify the factors that seem most conducive to PtP outcomes, the most effective ways to structure PtP deals and foundations, and the track record that PtP foundations have achieved.
The real promise of PtP, this book suggests, may lie in the future, however. As Salamon shows, PtP offers a shortcut to the development of significant charitable resources in countries currently lacking them. With the privatization of mineral resources and other state-owned or state-controlled assets on the upswing, PtP offers “win-win” opportunities for governments, businesses, and citizens alike. The result is an extraordinarily promising idea for bringing important new resources into the solution of long-term social, economic, and environmental problems.
Philanthropication thru Privatization by Lester M. Salamon is available two ways: as a downloadable PDF, available worldwide from the PtP Initiative website, p-t-p.org; and in paperback from il Mulino Press (shipping to Europe only). Please add your voice on Twitter (#PtP) or share your knowledge of additional PtP foundations here.
ABOUT THE PtP INITIATIVE
The PtP Initiative is directed by Lester M. Salamon, Director of the Johns Hopkins Center for Civil Society Studies, and managed through the East-West Management Institute with generous support from the Volkswagen, the Charles Stewart Mott, and the King Baudouin foundations as well as eight Italian foundations of banking origin through their Association of Italian Foundations and Savings Banks (ACRI).
Media contact: Chelsea Newhouse
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