We are ALL richer today because of the generosity of previous generations of Americans. Citizen generosity has balanced the wealth-concentrating power of capitalism in our country and made our democracy strong.

PHILANTHROPY IS AN ORIGINAL AMERICAN VALUE.

In 1630, John Winthrop called on the settlers in the ‘new land’ to share their 'superflueties' so that everyone in the new colony could meet their necessities. Soon there were barn-raisings and college scholarships for the sons of farmers that put this ideal into practice. We are still the most generous nation on earth 350 years later.

GENEROSITY IS THE MOST WIDELY PRACTICED AMERICAN VALUE

89% of Americans contributed to others in 2005, many more than voted or watched the Superbowl. We contributed 260 BILLION dollars, or 2.2% of GDP. This rate of giving is triple the rate of the next most generous nation in the world.

PHILANTHROPY IS NOT SIMPLY CHARITY.

Charity is important, but these dollars also constitute a large INVESTMENT for social and economic growth. They are RISK TOLERANT dollars, mostly invested in undertakings that neither for-profit nor government entities are willing to support.

CAN YOU THINK OF SOME BENEFITS WE ENJOY AS A RESULT OF CITIZEN GENEROSITY??

Turn the page to find some gifts to you from your fellow citizens. Did you know???

INVESTMENTS IN PEOPLE – HUMAN CAPITAL

Scholarships given by individual citizens have enabled millions of Americans to get the education they deserved. BILL CLINTON, MILTON FRIEDMAN, RALPH WALDO EMERSON, WEB DuBOIS, RICHARD NIXON ,LEONTYNE PRICE, and maybe more importantly your own doctor, lawyer, broker or dentist went to school on a private scholarship. The government didn’t start investing in scholarships until the 1950’s!

INVESTMENTS IN THE BUILT ENVIRONMENT – PHYSICAL CAPITAL

Take a look at any town in America. The libraries, hospitals, parks, recreational facilities, museums, and theaters that make community life function in our great country were mostly created by PRIVATE philanthropy. In some cases, a single wealthy donor made a gift, but more often, the community collected thousands of small pledges from regular citizens. The ECONOMIC VALUE of these assets is incalculable. Chicago Museums generate more economic benefit than all pro sports franchises in the City.

INVESTMENTS IN IDEAS – INTELLECTUAL CAPITAL

• Pension funds and Portfolio management tools – created by private philanthropy
• The vaccine for polio – generated by private philanthropy
• Penicillin – commercialized by private philanthropy
• Criminalization of Drunk Driving – achieved by private philanthropy
• Commercial Aviation in America – created through private philanthropy
• The electron microscope -brought to the country by donors!
• Radar – developed by a philanthropist

CONCLUSION: AMERICAN PROSPERITY TODAY IS A DIRECT PRODUCT OF HER GENEROSITY AS A PEOPLE.

Philanthropy is America’s greatest manifestation of a ‘can do’ spirit among its citizens. They turn first and foremost to EACH OTHER to solve problems. “We the people” are responsible to guarantee each other life, liberty and the opportunity to pursue happiness. We must keep this spirit alive and well as we engage the largest wealth transfer in the history of the world.

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