SHARON HOLLOWELL:The Billionaire Challenge

Columns

August 10, 2010

Anonymous Greensburg Daily News The Greensburg Daily News Tue Aug 10, 2010, 04:53 PM EDT

Greensburg — Have you ever sat around and day dreamed about winning the lottery? I am guessing there is more than one of us who have thought about everything from the exotic trips or expensive cars to the practical like paying of debts and supporting loved ones in need. Recently Warren Buffett and Bill and Melinda Gates challenged American billionaires to give back half of their assets to charity. According to a Fortune Magazine this could mean $600 billion dollars given back, which doubles the amount that Americans gave last year. For smaller charities like the DCCF, one of these gifts would be like hitting the lottery. So, I must admit I started thinking about all the amazing things we could do if one of the 400 billionaires would bestow one of their gifts here.

It will be interesting to watch how this all falls out. The givingpledge.com has a list of 40 who have joined the challenge. The website has a letter from each explaining some of their desires. I did not read through them, but I think that we have to remember is that these are people just like us. They have passions and desires and will choose how they give based upon that and what we have to respect that. It really goes back to discussions that I frequently have here at the DCCF. We have around 100 different funds set up by donors with criteria. Every so often I will have someone who wants to know why they haven't set it up differently. I have to explain that we must respect the choice of the donors even if you think it should have been different.

I wonder if others will follow these billionaires. I read that if millionaires would do the same thing that it would be more money to philanthropy than from the billionaires. I wonder then if the average American will follow in the footsteps of the billionaires. I wonder what they will give to. I havenÕt studied the giving patterns of billionaires, but do they support specific things and will others do the same. Will all charities really benefit or just certain segments. Over 60% of Americans donÕt have wills, as the media discusses how these people are doing estate planning maybe others will start thinking about it.

I don't see Decatur County Community Foundation benefitting from any gifts from the billionaires. I hope that maybe it gets people to start thinking about supporting philanthropy. So maybe on our end we will have new people join the ranks of donors. I also hope that it will get people in our community thinking about the possibilities of what our charities can do with the extra funding. So join me for a minute. Think of what your favorite charity could do with some of these gifts. Believe me it is great stuff.

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