It’s the end of philanthropy as we know it—and that could reshape America

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It’s the end of philanthropy as we know it—and that could reshape America - Fortune

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America is a generous nation—and the pullback in government spending could be an opportunity to reshape its charitable sector.

Meanwhile, at the top end of philanthropy, Gates is not the only corporate titan turned megadonor to signal that his generosity will, eventually, come to an end: Warren Buffett has said he will transfer 99% of his $170 billion estate to philanthropic causes before his death, at which point his donations will stop.

That $557 billion, she pointed out, only includes reported monetary gifts to registered nonprofits (which, to be sure, is a category that encompasses some entities that are not strictly charities, such as universities and ideologically driven organizations).“It doesn’t include things like counter boxes, crowdfunding, giving to neighbors, or for funeral expenses, for example,” McGrady added.