Invisible Hand of the Philanthropist

Our Mission

Invisible Hand of the Philanthropist is a movement founded by economist, money manager, and author Yee Ong to bring about greater awareness of the contributions that nonprofits provide to the economy.  At a time when the economy is on many people’s mind while charitable giving may be sidelined, Ong recognized a growing divergence between the needs and the resources of nonprofits.  He hopes that by educating people about their own reliance on the benefits provided by nonprofits, he can help stem the decline in charitable donations.

 

Our Message

Nonprofits employ close to 15 million people and account for nearly 10% of our national GDP.  The value added benefits that they directly provide to the economy include health care, education, environmental improvement, entertainment, and much more.  However, the indirect economic benefits from the employment and spending generated by nonprofits are immeasurable.  Donating to nonprofits is not just about helping those in need, but rather about serving all members of society.

 

Why Now?

With the extended economic downturn, many nonprofits are suffering. Data provided by Giving USA shows that private giving fell by 6% in 2008. According to the Chronicle of Philanthropy, "the 10 single biggest gifts donated by Americans in 2009 totaled just $2.7-billion, compared with $8-billion in 2008 and more than $4-billion in 2007." Meanwhile, the need for the services provided by nonprofits is greater than ever.  

 

Project

We would like to organize a fundraising event in the near future where nonprofits can demonstrate how they benefit the economy.  We are seeking nonprofit participants and corporate sponsors.