(Business Week) A minor increase in donations for US nonprofits leaves some hopeful that the economy is turning around, but times are still tough for charities and nonprofits. Executive director of the Center on Philanthropy at Indiana University Patrick Rooney said, “Technically, we’re in a recovery. We are beginning to see some positive signs. But despite that, giving still has a long way to go to return to the levels it was at three or four years ago.”
(ABC News) The Giving Pledge, a philanthropic endeavor brought about by Bill Gates and Warren Buffett in early August, is in the news again. The idea behind the Pledge is that the world’s wealthiest give away the majority of their monetary worth to solve global problems, such as hunger, health, and education. Mr. Buffett, Mr. Gates, and Mr. Ted Turner discussed wealth, giving, and philanthropy in a recent interview. Though philanthropy and morality were discussed at length, politics also came into play. Mr. Buffett stated that “tax breaks” for America’s richest is actually not a practical way to have the money “trickle down.” Mr. Buffett said, “Well, all I can say it hasn’t trickled. You know, as I said, a rising tide has listed all yachts, but the row boats have been left behind.” The Giving Pledge continues to grow, with 40 new billionaires agreeing to pledge in the last three months.