as a consultant for nonprofits I find this is all true and especially in the
well-established nonprofits or as they are now supposed to be referred to as
"public benefit corporations" the management has drank every last drop of
the Kool Ade. I'm skeptical about donations to large national or
international organizations where there is no local control or that are not
totally locally based and consumer driven.
Chuck
-----Original Message-----
From: Miriam Vieni
Sent: Wednesday, January 6, 2016 8:04 AM
To: blind-democracy@xxxxxxxxxxxxx
Subject: [blind-democracy] Wall Street Taking Over Nonprofit Sector
Wright writes: "While there has traditionally been a close relationship
between Wall Street donors and nonprofit organizations like charities and
universities, a new study from the Stanford Social Innovation Review (SSIR)
reveals a growing Wall Street takeover of nonprofit boards of directors."
Wall Street. (photo: NY Post)
Wall Street Taking Over Nonprofit Sector
By Dan Wright, Shadowproof
05 January 16
While there has traditionally been a close relationship between Wall Street
donors and nonprofit organizations like charities and universities, a new
study from the Stanford Social Innovation Review (SSIR) reveals a growing
Wall Street takeover of nonprofit boards of directors.
Using data from what are referred to in the study as major private research
universities, elite small liberal arts colleges, and prominent New York City
cultural and health institutions, SSIR calculates that "[T]he percentage of
people from finance on the boards virtually doubled at all three types of
nonprofits between 1989 and 2014."
SSIR posits that nonprofits favor Wall Street partly because "nonprofit
organizations are simply following the money." Wall Street has grown
increasingly rich in the past decades and fundraising is a vital aspect of
running a nonprofit organization. Hedge fund managers' compensation
regularly outstrips other corporate executives, making them prime
fundraising targets.
But the banksters are not content to just donate to the nonprofit
organizations, financial service industry executives are taking positions of
influence and control. As one might expect, the vision Wall Street players
have of and for the world often clashes with the preexisting culture within
those organizations. The most pronounced conflict, according to SSIR, is the
effort to make nonprofits more like businesses:
As financiers come to dominate the boards of leading nonprofits, it is not
surprising that their approaches and priorities have made their way, very
explicitly and fundamentally, into the governance of the nonprofit sector .
Nonprofit leaders regularly hear about these finance practices from board
members and donors whose native habitat is the financial services world.
Moreover, nonprofit managers have come to accept them as reasonable
principles upon which donors base their giving .
Numerous critics have written thoughtfully about the ways in which
market-based thinking and approaches applied to the nonprofit sector provide
false promise, with the potential to dilute charitable values, undermine
long-term mission focus, incentivize small, incremental goals, and threaten
shared governance and other forms of participatory problem-solving.
In other words, Wall Street is helping bring dubious management practices to
the sector that was setup, in part, to deal with the failures of an economic
system run by said dubious management practices. What could go wrong?
It is apparently lost on many donors to the nonprofit sector that if
nonprofit work could have been achieved through a business approach it would
already have been. For Wall Street, the problem with the nonprofit sector
appears to be that it's nonprofit.
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Wall Street. (photo: NY Post)
https://shadowproof.com/2016/01/04/wall-street-taking-over-nonprofit-sector/
https://shadowproof.com/2016/01/04/wall-street-taking-over-nonprofit-sector/
Wall Street Taking Over Nonprofit Sector
By Dan Wright, Shadowproof
05 January 16
hile there has traditionally been a close relationship between Wall Street
donors and nonprofit organizations like charities and universities, a new
study from the Stanford Social Innovation Review (SSIR) reveals a growing
Wall Street takeover of nonprofit boards of directors.
Using data from what are referred to in the study as major private research
universities, elite small liberal arts colleges, and prominent New York City
cultural and health institutions, SSIR calculates that "[T]he percentage of
people from finance on the boards virtually doubled at all three types of
nonprofits between 1989 and 2014."
SSIR posits that nonprofits favor Wall Street partly because "nonprofit
organizations are simply following the money." Wall Street has grown
increasingly rich in the past decades and fundraising is a vital aspect of
running a nonprofit organization. Hedge fund managers' compensation
regularly outstrips other corporate executives, making them prime
fundraising targets.
But the banksters are not content to just donate to the nonprofit
organizations, financial service industry executives are taking positions of
influence and control. As one might expect, the vision Wall Street players
have of and for the world often clashes with the preexisting culture within
those organizations. The most pronounced conflict, according to SSIR, is the
effort to make nonprofits more like businesses:
As financiers come to dominate the boards of leading nonprofits, it is not
surprising that their approaches and priorities have made their way, very
explicitly and fundamentally, into the governance of the nonprofit sector .
Nonprofit leaders regularly hear about these finance practices from board
members and donors whose native habitat is the financial services world.
Moreover, nonprofit managers have come to accept them as reasonable
principles upon which donors base their giving .
Numerous critics have written thoughtfully about the ways in which
market-based thinking and approaches applied to the nonprofit sector provide
false promise, with the potential to dilute charitable values, undermine
long-term mission focus, incentivize small, incremental goals, and threaten
shared governance and other forms of participatory problem-solving.
In other words, Wall Street is helping bring dubious management practices to
the sector that was setup, in part, to deal with the failures of an economic
system run by said dubious management practices. What could go wrong?
It is apparently lost on many donors to the nonprofit sector that if
nonprofit work could have been achieved through a business approach it would
already have been. For Wall Street, the problem with the nonprofit sector
appears to be that it's nonprofit.
http://e-max.it/posizionamento-siti-web/socialize
http://e-max.it/posizionamento-siti-web/socialize
