Financial Planning magazine (US based) has a current story on Extreme Philanthropy - those individuals who are giving at a 50% level, rather than the 2% level at which most Americans give. The article profiles the concept of the 50% League - people who commit to giving away half of their financial assets, or half of their income or business profits for at least three years.
(By comparison, the average Australian gives away 0.4% of their pre-tax income, although Australians earning over $1 million do give at approximately the 2% level).
The website associated with the 50% League, Bolder Giving, makes for some challenging and inspiring reading - in particular, the profiles of individuals at different wealth levels who describe with refreshing honesty the sources of their wealth and their motivations and reasons for giving at the higher level.
Thanks to Sean Stannard-Stockton at Tactical Philanthropy for the link.
Oct. 11, 2007
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