By Lester M. Salamon
With the assets of either governments and conventional philanthropy slightly starting to be or in decline, but the issues of poverty, ill-health, and environmental degradation ballooning day-by-day, new types for financing social and environmental ambitions are urgently wanted. thankfully, a revolution is underway within the tools and associations to be had to fulfill this want. Loans, mortgage promises, inner most fairness, barter preparations, social inventory exchanges, bonds, social secondary markets, and funding cash are only many of the actors and instruments occupying the hot frontiers of philanthropy and social funding. jointly they carry the promise of leveraging for social and environmental reasons not only the billions of greenbacks of charitable gives you however the countless numbers of billions, certainly trillions, of bucks of personal funding capital.
While the alterations below manner are inspiring, they continue to be mostly uncharted. This concise creation to the subject, and its better half quantity, give you the first entire and available roadmap to those very important advances. within the technique, those works will larger equip traders, philanthropists, social marketers, nonprofit leaders, company executives, executive officers, and scholars internationally to trap the possibilities that those advancements carry out to them and to our global.
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Extra info for Leverage for Good: An Introduction to the New Frontiers of Philanthropy and Social Investment
From gifts, as when a wealthy patron gives a work of art to a museum or donates the resources to construct a building at a university. More commonly, however, investment capital comes in one or both of two other forms: (a) debt—that is, loans, or the proceeds of a bond sale, which is a type of loan; or (b) equity, the purchase of an ownership, or equity, stake in an organization. In both cases, the providers of investment capital typically require something in return for their investment— payment of principal plus interest in the case of debt; and an ownership stake and payment of a share of whatever profits or surplus the investee might earn in the case of equities.
Introduction 23 Bond revenue is also typically off the table for social-purpose organizations because, as will become clear below, and more fully in the companion volume, New Frontiers of Philanthropy, it is hardly economical to issue bonds for denominations much below $50 million, a threshold that leaves all but the largest social-purpose organizations, such as universities and hospitals, waiting at the altar. This leaves loans, but due to the perceived riskiness of social-purpose revenue streams, social-purpose organizations often have to pay premium rates for the debt they take on.
Taken together, the result is the first comprehensive account of the new actors and tools operating on the frontiers of philanthropy—deepening the knowledge base from which to inform, educate, train, and responsibly promote this new mode of social-purpose activity. A Word about Terminology Before turning to the first of these tasks, however, it is necessary to say a word about terminology. As already noted, the field of action covered by this volume is already a terminological wasteland, strewn with a substantial number of defeated or discarded terms.