America is by far the most generous society in all of history. According to a recent report on MSNBC:
- More than 70% of Americans give to charity, meaning more people give than vote
- Of the $300 billion given last year, 76% of all charitable giving was from individuals
- The average American gives 2% of their income to charity. Wealthy Americans give 9% of their income to charity.
A speaker at a conference I recently attended stated that $70 billion annually would fund all preventable diseases, malnutrition, and basic education for the entire world. As I look at this, I am amazed at where we are and further convinced of the need to mobilize more capital for social impact. This is only sustainable through investment, and only possible by tapping into new pools of capital. But, it IS possible and, more so, essential.