Aaron Dorfman, president of the National Committee for Responsive Philanthropy, says that too often decisions by foundations to pass down their wealth is more of a reflex than a strategy. A multigenerational approach to philanthropy makes sense for some social issues, such as solving racial inequities, Mr. Dorfman says; other work is more pressing. If foundations that focus on climate change, for example, choose to safeguard their assets for future generations, they have already conceded the battle is lost, he says.
“If you make that choice, you have chosen that the goal of lasting in perpetuity is more important than solving climate change,” he says. “It is philanthropic malpractice when foundations choose perpetuity by default.”
Leave a Reply