In 2018, approximately 6,000 foundations controlled about $56.3 billion in assets in Canada, with $23.7 billion held by one foundation, the Mastercard Foundation. Known as ‘giraffes’ – strange creatures that shouldn’t exist but do – these foundations can help society in many ways.
“With an impending intergenerational transfer of wealth, some of which is likely to be held in foundations, and growing concerns over income inequality, there is both new potential and new questions being asked about the behaviour of institutionalized philanthropy. Given that these assets have been publicly subsidized through tax credits to their donors, what—if any—are the public responsibilities of private wealth?”
–Susan D. Phillips
Click to download the full study: Dancing with giraffes: Why philanthropy matters for public management by Susan D. Phillips. Canadian Public Administration / Administration publique du Canada, Vol. 61, No. 2 (June 2018), pp. 151–183.
Wednesday, November 18, 2020 in Private Foundations
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