One of the biggest problems for philanthropists is finding the right nonprofit to support. One of the biggest problems for nonprofits is finding the right philanthropists to support them.
It's a basic problem of matching buyers and sellers. So why not solve it with a stock exchange?
A new online forum, called the Social Impact Exchange, aims to become a marketplace connecting top-performing charities with foundations and donors. Its goal is to develop standards for the charities listed on the exchange, akin to the NYSE's standards, for example, while virtually any and all donors will be welcome.
According to an article in The Chronicle of Philanthropy, the Exchange already has 500 members (membership is still free). At the site's "clearinghouse," donors can now make gifts to 11 charities.
The exchange was created by a charity called the Growth Philanthropy Network, and is being helped by $600,000 from the Robert Wood Johnson Foundation and a partnership with Duke University.
Members of the exchange include staffers at Morgan Stanley and Wells Fargo, who also advise wealthy clients on philanthropy.
Granted, it won't be the stuff of gripping CNBC coverage — "Make-a-Wish is up 5% today on news of another wish granted!" But it sounds like a logical idea.
Do you think a stock exchange for charities will work?
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- Best, Tan Yinglan
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