The Foundation: A Great American Secret: How Private Wealth Is Changing the World

by Joel L. Fleishman

Book Overview

Foundations are a peculiarly American institution. They have been the dynamo of social change since their invention at the beginning of the last century. Yet they are cloaked in secrecy -- their... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1586484117
• ISBN13: 9781586484118
• Release Date: January 2007
• Publisher: PublicAffairs
• Length: 357 Pages
• Weight: 1.52 lbs.
• Dimensions: 1.1" x 6.5" x 9.4"

Customer Reviews

The Gift of Giving

This is a little mentioned corner of the grand American experiment. Long ignored by historians, the origins of American foundations is a worthy subject of study. American history textbooks devote much space to the so-called Gilded Age, making note of the contributions made by journalists in exposing the injustices of corporations such as Standard Oil, but no mention is made of the extraordinary contributions these founding fathers of corporate and private giving have made on the American landscape. Just think of the extraordinary universities founding at the turn-of-the century. Fleishman's focus tends toward more recent exemplars but the spirit and the enormity of their contributions to our lives is no less worthy of attention.

Essential Reading for Philanthropists

I'm a high tech entrepreneur turned social entrepreneur. This book gives an excellent analysis of the foundation world from an optimistic perspective combined with a healthy amount of constructive criticism. Something that makes this book standout are the wealth of real world examples of both success and failure. In addition to those in the book, there's a companion piece with 100 case studies available for free download as well as purchasable as a paperback book. What I enjoyed very much was meaty discussion of key aspects of the foundation structure. Fleishman's style is direct and clear: his points are made well and are backed up with real examples. One of the best books I've read about the social sector!

ESSENTIAL Primer, the Good, the Bad, and the Recommended

This is a very helpful book, indeed, a unique book. Here are some of the notes I took. As one of 24 co-founders of a new 501c3, the Earth Intelligence Network, created to provide decision support to foundations, the United Nations, NGOs, and others seeking to address the ten high-level threats to Humanity, I could not have found a more relevant work. A few notes: * Foundations are the dynamo of social change, with three roles varying from foundation to foundation: as driver, as partner, or as catalyst. * The author is very critical of the general state of mismanagement and in some cases, lack of clear ethical guidelines or stated values, and says the field must do better. * In his view, and his case studies bear this out, foundations are an enormous force for good, but they are unregulated, unaccountable, and if they are to retain the tax breaks and the trust of the people, they must change their process, their governance, and their attitude--this will, in the author's words, strengthen the social contract within which they are given so much leeway. * He states that foundations *need* a decision-making process (music to my ears) and also a progress-checking system. * He clearly communicates the willy-nilly state of many foundation programs, their lack of boundaries and focus, and hence their relative lack of impact. He states that many underperform, are insulated, and are arrogant. * A positive quote (the book is generally positive and constructive) from page 3: "Foundations enable the creation of countless civil sector organizations--groups dealing with human rights, civil liberties, social policy experimentation, public advocacy, environmental protection, knowledge generation, human capital building, and service delivery, among other causes--and assist them in building national, regional, and local constituencies that move into the forefront of continuing social change. Elsewhere in the book he points out that in many areas, foundations preceeded and inspired later government programs. * He is careful to point out that foundations have had limited success with education, health care, and poverty, and that in the face of global challenges (e.g. the ten high level threats to Humanity) the best they can do is educate the public and press government for action. I disagree. If foundations could collaborate with the United Nations UN) and leverage the Multinational Decision Support Center (MDSC) that we are trying to create in Tampa, Florida, they could among themselves agree to take on specific elements of a $230 billion a year program that Medard Gabel has been researching for ten years. * He points out that US foundations take in 1.1 trillion a year in revenues, but only dole out $33.6 billion a year. In my view, given the enormous value of preventive action, I believe the foundations should be required to dole out 20% of their endowment in the first year of a concerted global program, and then so much as to keep the endowment steady, n

Examining a Big but Little Known Area

Foundations are a subset of Non-Profit organizations that have become surprisingly big busines in the United States. Somewhere around 1/7th of the business in the country is conducted by these organizations. Somewhere around 1/9th of the workforce is employed by one. They have become an integral part of the American economy. In this book Mr. Fleishman looks at Foundations (a number of which he has been associated as employee, trustee or some other capacity). He examines what makes a foundation successful, and how some have failed. He offers insight and advice on how to make a foundation more successful, and at the same time how foundations should have an obligation to become more accountable since they received special tax considerations from the Government. He suggests that this accountability should be done by the foundations voluntarily. However, Mr. Fleishman is an attorney and believes that if voluntary response is not forthcoming then new legal requirements should be placed upon them to require more openness.

Deserves serious reading from people who want to make a difference.

Joel Fleishman's book lays an excellent bedrock of history underneath its discussion of philanthropy as a great element of American tradition. We live in days of some staggering examples - from Warren Buffet's living bequest of billions, to the fine work of Bill and Melinda Gates - and many others. But rather than see this as some product of the new millennium - Fleishman shows how the new avatars of corporate generosity are following a fine tradition. More than this, the author shows that certain gifting strategies have been leveraged for huge social benefit. For those who are thinking - at whatever scale - of giving to support a cause, this book sets out the strategies that have produced most benefit. This is an excellent, thoughtful piece of work on a topic that currently has wide currency. Well worth reading.