Philanthropy’s New Agenda: Creating Value

Satisfied with doing good, too few foundations work strategically to do better.

by

Michael E. Porter

and

Mark R. Kramer

by

Michael E. Porter

and

Mark R. Kramer

From the Magazine (November–December 1999)

During the past two decades, the number of charitable foundations in the United States has doubled, while the value of their assets has increased more than 1,100%. Foundations now hold over $330 billion in assets and contribute over $20 billion annually to educational, humanitarian, and cultural organizations of all kinds. No other country in the world can claim such substantial and widespread commitment to philanthropy and volunteerism. But are we, as a society, realizing the full fruits of this commitment?

A version of this article appeared in the November–December 1999 issue of Harvard Business Review.

Michael E. Porter is the Bishop William Lawrence University Professor at Harvard Business School. He has served as an adviser to governments and campaigns around the world on the advancement of social policy and economic policy, including Mitt Romney’s presidential campaign. His latest paper is The Role of Business in Society. He is an academic adviser to the Leadership Now Project.
Mark R. Kramer is a senior lecturer at Harvard Business School. He is also a cofounder of the social impact consulting firm FSG and a partner at the impact investing hedge fund at Congruence Capital.

Philanthropy’s New Agenda: Creating Value

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