Koch Theater at Lincoln Center, which houses the New York City Ballet. Koch Dinosaur Wing at the Museum of Natural History and the David H. Today his name is plastered on several New York institutions-including the David H. Worth an estimated $48 billion, David Koch gave $1.2 billion to various other philanthropies, including museums and hospitals. While engaged in what is literally a toxic political effort, David Koch, who died in August, also had a philanthropic organization that funded climate change denial research. He also served on the board of the family foundation of private equity mogul Leon Black, whose money was part of the $7.5 million he shepherded to MIT.ĭavid Koch and his brother Charles created and funded a political movement to attack the legitimacy of climate science and roll back environmental laws that would hurt the profits of Koch Industries, their privately held energy and chemicals conglomerate. He gave to other scientific and medical foundations and funded individual scientists’ work. Epstein made another anonymous donation to the breast cancer charity that his former girlfriend Eva Dubin-the wife of financier Glenn Dubin-had set up. Epstein was first convicted of sexual offenses in 2008, and before that his most significant philanthropic contribution was $9 million to Harvard University, which recently said it would donate the $186,000 it had not spent to organizations assisting survivors of human trafficking and sexual assault.Īfter Epstein was released from prison, the sexual predator helped shepherd $7.5 million to MIT, which led to resignations of some people associated with the funding once it was disclosed. The extent of Jeffrey Epstein’s efforts to burnish his image as a do-gooder at the same time he was allegedly sexually abusing dozens of underage girls began to come into public view after his arrest in July for sex trafficking. But it almost always hurts the nonprofit.” He argues that nonprofits need to remember that “they’ve got a higher purpose than maximization of revenue.”Īdds Jennings: “You can talk yourself blue in the face how you knew nothing about it. Even universities as prestigious as MIT and Harvard are “worried about their rankings, which are related to how much money they raise,” says Buchanan. The problem is that all nonprofits, from universities and museums to those working on criminal justice reform and cancer research, are dependent on the rich, and nonprofits spend an inordinate amount of time courting them. Goldin has identified 23 museums that took the money. Protestors have asked that the museums take the Sackler name off the wings named for them and give the donations to recovery groups. Sackler’s donations to the art world have given rise to another term: art washing. The company, which just filed for bankruptcy protection, is on the verge of settling a number of government lawsuits against it for $10 billion, and there could be more to come. Over the past 18 months photographer Nan Goldin, a recovering Oxycontin addict, led protests at the Metropolitan Museum of Art, the Guggenheim and even the Louvre, over the millions the museums have taken from the Sackler family, widely reviled as a key instigator of the opioid crisis through their company, Purdue Pharma, the makers of Oxycontin. Because of all their goodness, people never look any further,” she says. “Corporate fraudsters almost all use philanthropy as a cover. Jennings lists outsize philanthropic contributions as one of her “seven signs of ethical collapse” among corporate CEOs in a book of the same title. Related An Eclectic Auction Market Is Setting Records If Gates’ behavior was once controversial, “now when we think of Gates, we think of how he brought mosquito nets to Africa,” says Marianne Jennings, a business ethics professor at the University of Arizona. Justice Department over antitrust allegations, as someone who has used charity to change his image. reached a historic settlement with the U.S. Some even bring up Bill Gates, whose Microsoft Corp. The definition of a toxic philanthropist is murky, but it typically includes not just those convicted of heinous crimes, whether financial or personal, but also the super wealthy whose business or personal behavior is seen as detrimental to society. “If giving money away makes the donor look bad, what donor is going to give money away?” “Is all philanthropy going to be seen as toxic?” asks one billionaire donor who requested anonymity because of the sensitivity of the topic. The new mood is creating a moment of anxiety for the donor class and has the potential to disrupt the flow of giving. Related 6 Medical Breakthroughs Remaking Modern Health
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |