The Surprising Group Pushing the Super-Rich to Donate Faster
A group of fabulously wealthy philanthropists are launching a campaign to stop their peers from hoarding their riches in private foundations.
The Donor Revolt for Charity Reform launched Thursday with a signed letter from more than 160 prominent philanthropists—including Abigail Disney, oil heiress Leah Hunt-Hendrix, and Bradco founder Barry Segal—urging Congress to strengthen charity laws and force big-money donors to spread the wealth.
“It’s time to take a stand,” the group said on a newly launched website. “We, a group of wealthy charitable donors, are calling for urgently-needed, common-sense reform. We must ensure that large charitable gifts don’t languish idly for years in intermediaries, and instead flow to the causes they are intended to support.”