January 11, 2007
The Challenges Posed by an Era of Mega-Gifts
Although Warren Buffett's pledge of most of his fortune to the Bill & Melinda Gates Foundation was, by far, the biggest gift of 2006, large-scale philanthropy is no longer as rare as it once was.
Billion-dollar foundations are much more common — today the United States has more than 50 — than they were just 20 years ago, when only a few were as well endowed. Moreover, during 2006, at least 14 groups (besides the Gates Foundation) received pledges of
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