Also in the new issue:
In honor of Philanthropy 50’s 25th anniversary, Maria Di Mento and Jim Rendon looks at a quarter century of giving. As wealth in America has changed over the last few decades — the number of people worth $30 million or more grew from 53,600 in 2005 to 180,205 in 2024 — so have the trends that have shaped big philanthropy. Some philanthropists have been looking for ways to give that don’t have as many restrictions and don’t require as much disclosure as a foundation. Marc Benioff, co-founder of Salesforce, and his wife, Lynne, have appeared on our list 10 times since 2010 and have given away more than $1 billion over those years, but they’ve never had a foundation. Benioff says that sometimes they give through a donor-advised fund, and sometimes they give cash or stock. “My wife and I don’t want a lot of bureaucracy in how we’re giving. There’s no board of directors, no CEO to discuss this with,” he says. “We just make that decision.”
Stephanie Beasley and Eden Stiffman check in with the megadonors of the future. These donors in their 30s, 40s, and 50s tend to work more collaboratively than earlier generations of funders and find fresh ways to compare notes. “WhatsApp chats where other donors share information about giving and wealth in an informal way on an ongoing basis are very prevalent in my world,” says Katherine Lorenz, president of the Cynthia and George Mitchell Foundation. Other next-generation donors are focusing their efforts on addressing the root causes of injustice — like Liz and Don Thompson, whose Cleveland Avenue Foundation for Education supports college-access and career-readiness for young Black people. Trying to change systems requires being “loud” about your work to bring in others, Liz Thompson says. “You’ve got to attract other partners with you in this work.”
M.J. Prest takes a closer look at the donation patterns of Thomas Golisano, who gave away $500 million last year and is No. 8 on the Philanthropy 50. The billionaire founder of Paychex, a Rochester-based company that provides payroll and human-resources services, gave $133 million to 35 organizations that serve people with autism or intellectual and developmental disabilities (IDD). Many of those nonprofits had never before received a seven-figure donation, let alone a multimillion-dollar gift. For Golisano, the issue hits close to home: Golisano’s son, Steven, has for decades flourished in programs at the upstate New York nonprofit Holy Childhood, which supports children and adults with IDD.
Plus: Seven ways to secure corporate support, how St. Jude Children’s Research Hospital has made donor-advised funds a key part of its fundraising strategy, and steps foundations can take — both for their grantees and for their own internal operations — to respond to the new administration (opinion).
To go deeper on the Philanthropy 50 and hear more about trends in giving among the wealthiest donors, make sure to register for our free online forum “Ultrawealthy Donors: How They Give and What’s Next.” The event is March 11 at 2 p.m. Eastern.
