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New Frontiers of PhilanthropyA Guide to the New Tools and New Actors that Are Reshaping Global Philanthropy and Social Investing$
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Lester M. Salamon

Print publication date: 2014

Print ISBN-13: 9780199357543

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780199357543.001.0001

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The Revolution on the Frontiers of Philanthropy

The Revolution on the Frontiers of Philanthropy

An Introduction

Chapter:
(p.3) Chapter 1 The Revolution on the Frontiers of Philanthropy
Source:
New Frontiers of Philanthropy
Author(s):

Lester M. Salamon

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199357543.003.0001

With the resources of both governments and traditional philanthropy barely growing or in decline, yet the problems of poverty, ill-health and environmental degradation ballooning daily, it is increasingly clear that new models for financing and promoting social and environmental objectives have become urgently needed. Fortunately, a significant revolution appears to be underway on the frontiers of philanthropy that is providing at least a partial, though still embryonic, response to this dilemma. The heart of this revolution is a massive explosion in the instruments and institutions being deployed to mobilize private resources, and particularly private investment capital, in support of social and environmental objectives. This chapter provides a broad overview of these new actors and tools, identifies the factors giving rise to them, examines the major barriers impeding their full development, and outlines a set of steps needed to improve their effectiveness and extend their reach.

Keywords:   social-impact investment, social enterprise, leverage, social stock markets, debt, private equity, credit enhancements, securitization, capital aggregators

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