About Warren Buffet’s $37 Billion Plus Gift
The morning papers and networks lead with the story of Warren Buffet's decision to give away 85% of his wealth ($37+ billion) beginning in July. The story first appeared yesterday in a Fortune Magazine exclusive by Carol J. Loomis, FORTUNE's Editor-At-Large. In an interview with Ms. Loomis, Buffet tells how and why he arrived at his decision — including why most of the wealth of the world's second richest man will go to the foundation set up by the world's most wealthy man–The Bill and Melinda Gates Foundation.
Check out the Fortune story and the sidebar pieces to this main story for a fascinating look at this thoughtful and remarkable process. And, take a moment to see the most thoughtful and moving acknowledgement by Bill and Melinda Gates at their foundation's website.
How does the Buffet gift compare with those of other philanthropic legends? In today's dollars Andrew Carnegie give $7.2 billion over a 17 year period; John D. Rockefeller $7.1 billion over a 38 year period and John D. Rockefeller, Jr. $5.5 billion over a span of 33 years.
Behavioral Science Q & A
Integrating an individual giving appeal with other communications from a charity can have both positive and negative effects, and the outcome largely depends on how it’s executed. Advantages of Integration Brand Consistency: Maintaining a consistent appearance and messaging across all communications can reinforce the org’s brand identity and strengthen brand recognition and trust among your […]
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I’m not aware of any in-market tests specifically comparing recurring vs. gift frequency language. I suspect the answer might not be the same with all gift frequencies, nor with all people. It sounds like a great opportunity for you to test and find out what works for your audience. Based on the literature, here’s a couple […]
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Based on what we know from existing data, those renewal notices can actually be pretty effective in getting people to donate. They tap into our psychology – creating a sense of urgency, reminding us of past support, and using personalization to make the message hit home. They’re playing on our natural tendencies to feel obligated […]
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Interesting question. I had a quick look at the testing done on this topic. On the positive side, in all cases, over half of donors decide to cover the fee. In some cases, it goes as high as 65%. Not a negligible percentage at all. Here’s another test from iRaiser showing consistent results (see point […]
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There’s just one thing to consider when designing a supporter journey: the supporter. More specifically, you need to take into account: Who the supporter is i.e. their identity, which is the reason they support this cause, and their personality, which describes the way they “see” and process the world. These will determine the kind of […]
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I’m not an expert in this but a quick search surfaced this article on the effect of tax reforms on 2019’s charitable giving. The researchers didn’t find a reduction. Actually, they observed an “increase in charitable contributions in 2019, even with the lower tax rates and the dramatically smaller number of taxpayers who itemize their […]
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