How the Gates/Buffett Giving Pledge Could Affect Other Donors

Considering the duration and depth of the recession, what should people in the nonprofit world make of the Giving Pledge, an effort by Bill and Melinda Gates and Warren Buffett to encourage billionaires to give at least half of their fortunes to charity? asks The New York Times.

The newspaper notes that pledges from donors, particularly multiyear pledges, have slowed in recent years and aren’t expected to rebound for several years. But the high-profile nature of the Gates/Buffett Giving Pledge, along with its emphasis on a moral imperative for giving, could inspire donors to get past a lack of confidence in the economy that has been holding them back, the article says.

“When people make that decision to give their money away and then make it public, that has two significant benefits to society,” said Thomas Tierney, chairman of the Bridgespan Group consulting firm. “Those people making the pledge will start to be asked about the timing of their philanthropy and the focus of their philanthropy, but it also makes other people ask themselves, ‘Gee, what should we do?’ That’s the real power.”

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