Myra Biblowit, the president of the Breast Cancer Research Foundation, and Larry Norton, the scientific adviser to the foundation, say it is dependent on donors who give regularly and generously.
THIS is a time of year when solicitations for donations are coming at you from every direction, and for good reason: the end of the year is when people make most of their gifts to charity.
But these requests for money, from the checkout line to the mailbox, can pull well-intentioned people in too many directions and turn an act of generosity that should lift the spirits of the donor and help a worthy cause into another stressful obligation.
This onslaught and a story I was told this week — more about that later — got me thinking about the argument for focused giving, for picking an area that you care about and putting most of your philanthropic dollars into it. This is something my wife and I have done for many years and have found very rewarding: it has made us more knowledgeable, passionate and involved in the area we support.
Patrick Rooney, associate dean for academic affairs and research at Indiana University’s School of Philanthropy, said he did not want to deter people from giving away their money however they wanted. But he added, “You’re better off to target three, four or five charities and give larger gifts to a small number of charities as opposed to giving a large number of small checks.”
Part of the reason is that a single larger gift could do more good. But that was not the only benefit. “From the recipient organization’s perspective, having a gift from $1, $100, $1,000, to $100 million, there are some transaction costs,” Mr. Rooney said. “You’ve got to book it, deposit it, acknowledge the donor and cultivate the donor for future gifts. If you have a lot of checks for $5 and $10, you have a lot of transaction costs for a relatively small gift.”
The other side of this debate is equally valid: it’s your money, and if you want to give a little bit to 27 different groups, that’s your choice. As Melissa Berman, president and chief executive of Rockefeller Philanthropy Advisers, told me: “Philanthropy is voluntary. When someone tells you how your money is supposed to be used and in what proportion, that’s called a tax.”
I can appreciate both sides. But I spent this week talking to a group of people focused on one cause — breast cancer research. Their desire to support this cause, which has had great success, made an interesting argument for being more selective with donations. Here’s the story.
THE LUNCH Addressing about two dozen women over lunch in late November, Leonard A. Lauder, chairman emeritus of Estée Lauder, told how he had bought his wife, Evelyn, a piece of jewelry every time she finished a round of chemotherapy and they thought she was better.
Mrs. Lauder, who learned she had breast cancer in 1987 and survived it, started the Breast Cancer Research Foundation in 1993, with the goal of raising funds for research that would eradicate the disease. Last year, she died of ovarian cancer.
A few weeks before she died, Mr. Lauder said, he found her standing in their kitchen one night wearing a ring he had bought her.
“She said, ‘I’ll never have a chance to wear this ring. so I’m wearing it tonight,’ ” Mr. Lauder told me. “When she died, I had all this jewelry. I didn’t feel right giving it to someone. I thought, ‘What should I do with the jewelry?’ ”
He decided to auction it off and give all the money to the foundation. He said he got Sotheby’s to waive the commission it charges sellers so that any money raised would go to a new fund at the foundation to focus on the genetic links between different types of cancers.
Among those in the audience of prospective bidders that day was Cindy Citrone. Mrs. Citrone’s mother and father died of cancer, and she is active in various cancer charities in Connecticut, where she lives. She also sits on the board of visitors of M. D. Anderson Cancer Center in Houston. Cancer charities are something she and her husband, Rob, who runs a hedge fund, support in many different ways.
She was moved by Mr. Lauder’s account of how he wanted his gifts to his wife to be passed on as part of a continuing contribution to the fight against cancer. “After hearing him tell this story of love and the legacy of joy,” she said, “I came home and wanted to be part of it.”
This article has been revised to reflect the following correction:
Correction: December 21, 2012
A picture caption with an earlier version of this column misspelled the surname of the Breast Cancer Research Foundation’s scientific adviser. He is Larry Norton, not Nortan.
Wealth Matters: An Argument for Focusing Charity Dollars
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Wealth Matters: An Argument for Focusing Charity Dollars
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Wealth Matters: An Argument for Focusing Charity Dollars
