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| Path: Main Street : Online Resources : Venture Philanthropy Guide : Gift Planning |
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Venture Natasha
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Gift Planning
"Many successful entrepreneurs are scorning the big bureaucratic nonprofits," states Forbes magazine in an April, 2000 article "They Want Your Founder's Stock." "Many are setting up their own foundations or working with startup charities. Similarly, many new tech companies are donating pre-public offering stock to those community foundations that have agendas different from those of traditional charities."
Pioneering Gift PlannersTwo senior gift planners doing innovative work with entrepreneurs are Peter J. Ticconi, Jr., senior planned giving advisor, Johns Hopkins University, and Malcolm Burrows, planned giving director, Toronto's Sick Children's Hospital Foundation and member of the board of directors of the Canadian Association of Gift Planners.
Malcolm Burrows - Hospital for Sick Children, TorontoIn October, 2000 Malcolm Burrows launched the "Options Campaign For The Hospital for Sick Children Foundation" which is the first of its kind in Canada.Burrows offers details of the innovative campaign in an article entitled "Gift of Stock Options by Corporations."
Peter Ticconi - Johns Hopkins UniversityPeter Ticconi's paper "Gift Partnering with Entrepreneurial Donors" published in the Journal of the National Committee on Planned Giving was the first of its kind on the topic. Peter writes, "Today's entrepreneurs and venture capitalists represent the wealth of tomorrow. Yet conventional gift acceptance procedures do not always fit these individuals unconventional gift proposals. To work with them, you often have to think like they do." The paper is not available online but Peter has kindly offered to provide a copy if you contact him at pticconi@jhu.edu.Peter's work was also cited in the Forbes article "They Want Your Founder's Stock." "When asking for a conventional gift, these prospects might say they are not in a position to make a present commitment because they are using their assets to build value in their venture (business or partnership) and they need all available capital to make this happen. So a conventional gift does not happen. "In these situations, the gift planning conversation can be moved ahead to the future event when wealth is anticipated. The actual gift transfer is intended to be in the future rather than today. "The advantage is that the donor need not make a commitment for a dollar amount, since the anticipated growth in not clear. Instead, committing a percentage or a specific number of shares makes sense. When gift planning happens from a donor's perspective, the best gift planning can happen for these charitably minded people." Peter has developed a brochure for Johns Hopkins' Whiting School of Engineering with sample gift partnerships as a well as several gift examples. Contact Peter Ticconi for more information. "I could have bought a bigger house, a fancy car," says Joseph Pistritto, one of Peter Ticconi's entrepreneur donors. "But if a student makes a discovery based on my grants, it would be worth a lot more than me driving a faster car over the speed limit."
Canadian ResearchFundraisers Guy Mallabone, vice-president of the Southern Alberta Institute of Technology (Calgary), and Tony Myers, associate director of development at the University of Alberta (Edmonton), have published some preliminary findings from their master's thesis in Philanthropy and Development at Saint Mary's University. The duo are researching what motivates entrepreneurs and you can find their preliminary findings in the NewsWeek Archive at CharityVillage.
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