Searching for Solutions to the Decline in Philanthropy

A recent panel discussion at the Midnight Theatre in Manhattan, presented by Penta and United Way Worldwide, emphasized the urgent need for increased philanthropy and the significance of volunteering. 

The discussion highlighted the financial struggles half of working New Yorkers faced, as reported in April. Grace C. Bonilla, CEO and president of United Way New York City, stressed the importance of collaboration among corporate entities, nonprofits, and policymakers to address underlying issues. 

However, Angela F. Williams, CEO and president of United Way Worldwide, noted a decline in philanthropy, attributing it to weakened traditional donation channels like churches and payroll deduction programs. Williams also pointed out that young donors seek immediate impact and scrutinize nonprofit spending.

For more information see Clarissa Sebag-Montefiore “Searching for Solutions to the Decline in Philanthropy”, Barrons PENTA, November 17, 2023.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.