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Yesterday I pointed to CNBC's lack of knowledge of nonprofit evaluation. In this post Dan Pallotta points to CNN's sensationalization of compensation issues in the nonprofit sector.
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ABOUT SEAN STANNARD-STOCKTON
Sean Stannard-Stockton is the president and chief investment officer of Ensemble Capital Management, located in Burlingame, CA, midway between San Francisco and Silicon Valley. From 2006 through 2012, Sean authored the Tactical Philanthropy blog and wrote regular philanthropy columns for both the Financial Times and the Chronicle of Philanthropy. In 2012, Sean officially ended the blog to focus on growing Ensemble Capital.
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One Comment
For me, it was interesting to read since this was something brought to my attention some years ago when first introduce to the concept of social capitalism. My mentor whose early background was in the US non-profit world, making the point that nothing prevented the founder of a charity maximising their income while minimising the social mission. He was making the case to me for a business with all the constraints of creating revenue and paying living wages while re-investing profit into a social objective.
Here in the UK the image of many large charities has become one of prime time TV advertising, street chuggers and intrusive telesales operatives. Is there an unassailable rectitude in giving away other people’s donations in good faith?
That others have accrued great wealth through commercial endeavour seems irrelevant to the context of charity compensation, Clearly no man needs $51 billion and while wealth accumulates in the hands of a small minority others suffer. That ‘philanthrocapitalists’ are now beginning to understand this can be considered some form of progress.