The PtP Beat Goes On: Another Newly-Discovered Major PtP Foundation

As we recently reported, our list of PtP foundations continues to grow. Today, we are pleased to introduce you to our latest discovery: the roughly US$1 billion Truth Initiative (formerly the American Legacy Foundation) created in 1998 out of the same Master Settlement Agreement that brought an end to the litigation brought by a large collection of American states against the manufacturers of cigarettes. Renamed the Truth Initiative in 2014, this PtP foundation grew out of the recognition that the US$246 billion in tobacco settlement funds would largely be absorbed into state treatment programs—leaving little for the preventative programs desperately needed to avoid additional nicotine addictions, especially among youth. The signatories to the agreement thus turned to the vehicle of an endowed charitable foundation as the best channel to promote the “comprehensive, coordinated program of public education and study” that it felt to be “important to further the remedial goals” of the tobacco agreement. The result is “America’s largest nonprofit public health organization committed to making tobacco use a thing of the past.” Thanks in important part to this PtP foundation’s efforts, youth smoking rates in the U.S. have dropped from 23% in 2000 to under 4% today. Recognition...

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PtP Highlighted at Recent World Bank Spring Meeting Session on Combatting Corruption

At the recent the World Bank Spring Meetings in Washington, DC, Project Director Lester Salamon had an opportunity to introduce PtP’s potential for encouraging citizen involvement in anti-corruption efforts—a point which was highlighted as one of the “6 Takeaways From the World Bank Spring Meetings,” as excerpted below. By Sophie Edwards // 19 April 2018   WASHINGTON — Representatives from the World Bank, business, technology companies, media, and law enforcement discussed ways in which they can work together to combat corruption during the Spring Meetings….   Wednesday’s session brought together a diverse range of actors from government, the private sector, media, and academia to discuss new ways and challenges to ending corruption.     6. New models for spending seized assets “Citizens will not get serious about working on corruption unless they see a better result coming from the capture of corrupt assets than they are seeing now,” according to Lester Salamon, director of the Center for Civil Society Studies at Johns Hopkins University. “Currently, these assets are put back into government agencies and flow back into corruption,”...

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“How to Apply PtP to Stolen or Stranded Assets” by Aaron Bornstein and Lester M. Salamon

FOR IMMEDIATE RELEASE Contact: Chelsea Newhouse According to a recent UN report, close to US$4 trillion is stolen from governments or generated by bribes or other forms of corruption each year in countries around the world—an annual sum well above the total budgets of numerous developing and transition country governments. Despite often heroic efforts, however, the record of successful discovery, confiscation, and effective return for social re-use of these vast assets has been frustratingly meager. This limited success in returning such assets for effective social re-use is largely due to the complexity of the process. Also at work, however, is that so much of the attention has had to focus on the challenges of locating, documenting, freezing, and confiscating stolen assets that too little attention has been available to focus on the all-important question of what to do with these assets if and when they become available for potential return. The document being released today seeks to remedy this shortcoming by focusing on one of the most promising of the social re-use and return options available. This is the option exemplified by the case of the BOTA Foundation in Kazakhstan, and by close to 600 other foundations that have...

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