New golden age for U.S. philanthropy ahead, Boston researchers say. (General).BOSTON -- A new golden age of philanthropy philanthropy, the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. could see more than $6 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. going to U.S. charities over a 55-year period, say researchers at the Boston College Boston College, main campus at Chestnut Hill, Mass.; coeducational; Jesuit; est. and opened 1863. Actually a university, the school's Chestnut Hill campus comprises colleges of arts and sciences and business administration, the graduate school, and schools of nursing Social Welfare Research Institute. They say their new, estimates update the figure published in 1990 - and regularly cited ever since then - indicating that from 1990 to 2044, the value of estates in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. passing from adults with children 50 years and older would be $10.4 trillion. In Millionaires and the Millennium: New Estimates of the Forthcoming Wealth Transfer and the Prospects for a Golden Age of Philanthropy, John Havens and Paul Schervish say their wealth transfer microsimulation model produces a much higher figure. The wealth transfer between 1998 and 2052 will range from a low-end estimate of $41 trillion to $136 trillion at the high end. Their estimate that more than $6 trillion of that wealth will go to charities is based on several trends, including: * more rapidly growing material resources available for charitable giving than previously appreciated; * more widespread reality and self-perception of financial security; * economic and emotional incentives to give to charity that increasingly shape the moral sentiments of wealth holders; * a new values-based approach to financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against . 617-552-4070 |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion