Press Releases

Washington, D.C. - 

"Foundations often seek to maximize financial return on their investments, regardless of whether or not those investments undermine their grantmaking objectives," said Aaron Dorfman, NCRP's director. "But many foundations have come to realize that maximizing return and maximizing mission impact can go hand in hand."

Dave Beckwith, director of the Needmor Fund, an Ohio-based family foundation, explains the importance of making "mission-based" investments. His foundation has adopted a policy requiring investments to pass several tests to ensure that investments are consistent with Needmor's values. He says the approach has allowed his foundation to do "more good while growing their financial assets."

This issue of Responsive Philanthropy also summarizes the principal findings of Banking on Philanthropy: Impact of Bank Mergers on Charitable Giving, NCRP's latest report which will be released in late-June.

After examining giving at seven major bank "constellations" such as Bank of America, JPMorgan Chase and Wachovia, NCRP found that corporate philanthropy has grown dramatically during a period of consolidation in the banking industry. Since the late-1980s, philanthropy by the banks in the report has quadrupled, totaling more than $400 million annually between 1999 and 2001.

"I find it promising to see this expansion in total giving by banks, because many people assume that mergers will result in reduced giving," Dorfman said. "But mergers have greatly altered the nature of bank philanthropy, resulting in more funding for the southern region of the country and less for other regions, and more funding for national organizations and less for local nonprofits."

Other articles in this issue include an exploration of NCRP's efforts to protect the public interest through regulation of donor-advised funds, and a review of a book on how young philanthropists can effectively support social change.

NCRP is a national watchdog, research and advocacy organization that promotes public accountability and accessibility among foundations, corporate grantmakers, individual donors and workplace giving programs. For more information on NCRP or to join, please visit www.ncrp.org or call (202) 387-9177.

Subscription to Responsive Philanthropy is free to NCRP members, and also is available to non-members for $25 annually for four issues. To subscribe, please visit www.ncrp.org . For a complimentary media copy, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it .