What Constitutes “Appropriate” Giving?
In January 2012, Pablo Eisenberg, a regular contributor to the Chronicle of Philanthropy, wrote an article titled, “Misplaced Giving Priorities of America’s Wealthy.” Eisenberg writes about the attention The Washington Post paid to David Rubenstein’s $7.5 million contribution to restore the Washington Monument, which had been closed due to damage incurred during the East Coast earthquake last year. Eisenberg finds this type of press coverage “disturbing.”
He writes, “First, they are signs of the misplaced giving priorities of the nation’s billionaires. Second, they show how lacking in skepticism the nation’s press—and so many other parts of society are—when it comes to raising tough questions about how much the wealthy give and where they direct their donations” (Eisenberg 2012).
Eisenberg also makes reference to “The Giving Pledge” in his article and argues that the Pledge should include the encouragement of a significant commitment to antipoverty programs. The Giving Pledge is an initiative of the Gateses and Warren Buffet to inspire and motivate their peers to commit a significant portion of their wealth to charity in a very public way. It’s a great concept and movement amongst the nation’s most wealthy. I am constantly surprised and inspired by the very personal letters of commitment posted on The Giving Pledge website (www.givingpledge.org), often explaining the individual’s or the couple’s relationship with money and the real challenge to be thoughtful benefactors of those issues and causes they hold dear. This movement has stimulated other similar projects like Bolder Giving (www.boldergiving.org) among individuals of lesser means.
The crux of Eisenberg’s article is that this nation is suffering and the wealthy should direct a significant portion of their wealth to alleviating that suffering. He says they need to “give until it hurts.” He also criticizes the media for highlighting large gifts such as Rubinstein’s to the Washington Monument instead of questioning whether there is a better use of those resources.