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May 29, 2009

Gates Foundation Chief Hails Benefits of Philanthropic Risks

Charities that have the means to do so need to take chances and try things that might fail as a way to learn the best routes to social innovation, the head of the Bill & Melinda Gates Foundation, Jeff Raikes, said in an interview with the Associated Press.

“Almost by definition, good philanthropy means we’re going to have to do some risky things, some speculative things, to try to see what works and what doesn’t,” said the former Microsoft executive, who assumed administrative leadership of the world’s largest philanthropy nine months ago.

Mr. Raikes, whose own foundation supports youths, education, and Seattle causes, cited the Gates Foundation’s education effort, which has spent billions in recent years on scholarships and school improvements. He said he believes the philanthropy must take a different approach and direct grants toward developing and supporting more effective teachers.

Friday May 29, 2009 | Permalink

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