World of Philanthropy: Entering the Mainstream?

March 7, 2003

Abstract

Boston, MA, USA March 7, 2003

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In a new report, entitled ? Celent examines the world of philanthropy, in particular the incredible growth that has taken place over the last decade. The report focuses on the use of private foundations as a vehicle for philanthropy, and also as a viable alternative to donor-advised funds. The report also profiles Foundation Source, a leading turn-key technology and service provider in the private foundation market.

According to

Sang Lee, Analyst at Celent, "When people think about charitable foundations, names like Rockefeller, Ford, or Gates come to mind. Most people believe that charitable foundations are only available to the obscenely wealthy. However, thanks to services from firms like Foundation Source and Fidelity, setting up and running a private foundation doesn稚 have to be a painful and costly process"

He goes onto add that "More and more financial institutions are looking to offer private foundations as part of their wealth management service for additional revenue generation and client retention."

A is available online.

of Celent Communications' Retail Banking, Retail Securities & Investments, and Life & Health Insurance research services can download the report electronically by clicking on the icon to the left.  Non-members should contact info@celent.com for more information.

        

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Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

Boston, MA, USA March 7, 2003

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Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
MARKET OVERVIEW 6
  Overall Growth of Charity in the U.S. 6
  Statistics on Foundations 7
  Inter-Generational Wealth Transfers 9
PRIVATE FOUNDATIONS 11
  What is a Foundation? 11
  Pros and Cons of a Private Foundation 12
  Role of Technology in Philanthropy 13
FOUNDATION SOURCE 15
  Background 15
  Key Services 16
  Business Strategy 19
  Implications for Participants 19
  Things to Come 20
CASE STUDIES 22
  National Advisors Trust 22
  Bank One 22
LOOKING AHEAD 25

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