Bessemer Trust Among Experts Tapped by NYTimes for Piece on Social Change Major Gifts
Philanthropists may proclaim their desire for social change, but few, it turns out, follow through.
Instead, according to research by the Bridgespan Group, a philanthropic consultant, they tend to fall back on proven recipients like universities, hospitals and museums for their biggest bets.
Those may be worthy recipients but, in the eyes of some in the philanthropic community, they are not at the forefront of social change.
That is why someone like Paul Salem, a private equity investor in Rhode Island, is rare.
He has made two big bets with his philanthropic dollars: one in a company that makes Plumpy’Nut, a peanut paste to feed malnourished children, and another in Year Up, a nonprofit group started in Boston that teaches young urban adults the skills needed for a professional career...