SOCIAL SCIENCES

Putting Wealth to Work: Philanthropy for Today or Investing for Tomorrow?

by Joel L. Fleishman
Putting Wealth to Work: Philanthropy for Today or Investing for Tomorrow? PublicAffairs. Sept. 2017. 352p. notes. index. ISBN 9781610395328. $28; ebk. ISBN 9781610395335. BUS
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Fleishman's (law & public policy, director of the Heyman Ctr. on Ethics, Public Policy, and the Professions, Duke Univ.; The Foundation: A Great American Secret: How Private Wealth Is Changing the World) qualifications to question and discuss the trends in the establishment of philanthropic foundations, from perpetual to limited life, is without reservation. Fleishman discusses the history and changes in foundation establishment practice dictated by the intent of the donors and the changes in U.S. law. Using numerous examples to demonstrate his findings, he shows that the trend appears to be toward a more limited life approach than perpetuity, although the advantages of both are considered in great depth in a readable manner. Several appendixes add to the book's scholarly usefulness.
VERDICT Fleishman presents a thorough picture of the foundation industry today. His practical and well-researched treatise should be held by university, public, and law libraries.
Reviewed by Littleton Maxwell, formerly with Robins Sch. of Business, Univ. of Richmond , Oct 01, 2017
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