With Facebook’s initial public offering set to create more than 1,000 of new millionaires, MSNBC says charities could benefit significantly.
The article cites the new liquidity of Facebook workers’ assets; the availability of philanthropic vehicles to limit the tax hit from huge capital gains, such as donor-advised funds; and the example of company co-founder Mark Zuckerberg—who gave $100-million to Newark public schools in 2010 and last year signed the Giving Pledge—as factors likely to drive a share of the firm’s new wealth into causes.
“Will all the new thousand millionaires give? Absolutely not,” said Rob Mitchell of Atlas of Giving, which tracks U.S. philanthropy. “But one of things we saw in 2011 was the fact that wealthy people were again interested in donating appreciated assets and specifically stock.”






