America and its culture of generosity

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In 1853, a professor and preacher named Ransom Dunn would horseback 6000 miles to Michigan, Wisconsin, and Minnesota to raise funds for Hillsdale College. The rural families populating then the upper Midwest were not rich. Nevertheless, they willingly gave $10 to $100 apiece despite them struggling to make a living. This horseback ride was an attestation that charitable giving in America has never been the exclusive province of the wealthy.

Throughout the US history, Americans from all walks of life have generously given for charitable causes. In fact, most of the generous Americans today are the working poor, says Adam Meyerson, president of the Philanthropy Roundtable Organization. He said further that Americans have given 10 times as much to charity as they have spent on professional sports, and twice as much as they have spent on electronics equipment.

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This culture of generosity, which makes America one of the most charitable nations, is founded on two reasons. First, US citizens respect the freedom and the ability of individuals and organizations to make a difference. They do not wait on the government to create solutions. American people find solutions themselves. Such is the case for philanthropists Alex von Furstenberg and Donald Trump; both are working toward solving social illnesses. By supporting charitable and philanthropic causes such as the Operation Smile, they are gradually making change.

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The second reason for the extraordinary American charity is that philanthropy is such an important part of the nation’s business culture. Wealth creation and philanthropy have always gone together in US. From Andrew Carnegie who brought public libraries across US to Warren Buffet, entrepreneurs have sought to be great philanthropists. It is not because they have money. It’s because they have the passion to help.

Know more about American philanthropy by following this Twitter page.

Naked Heart Foundation: Transporting the children into the magical realms of play

“A child’s greatest achievements are possible in play, achievements that tomorrow will become her basic level of real action.” - Lev Vygotsky, Russian Psychologist, 1896 -1934

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In 2004, Russian model Natalia Vodianova set up the Naked Heart Foundation. Spurred into action by the Beslan tragedy, Natalia founded the charity with the mission of creating modern play parks in urban areas of Russia. These play parks were aimed to help the young survivors of the tragedy find healing. Moreover, they were aimed to help the underprivileged children of Russia in finding their creativity and in safeguarding themselves from the devastating consequences of being deprived of such a basic necessity. In the words of the American psychologist Stuart Brown, “play allows us to develop alternatives to violence and despair.” It is through play that children learn to engage in the world around them at an early age and become more confident and resilient.

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The first park built by the Naked Heart Foundation was in Nizhny Novgorod in 2006. Although the first park was not erected in Beslan because Natalia was not able to make contact with the Beslan authorities after the tragedy, she and the Naked Heart finally delivered their promise of escape from misfortune in 2009. Three years after the first park, Naked Heart has already constructed 40 play parks in various Russian cities including Beslan. And to date, it has accomplished 90 accessible playgrounds in 68 cities and towns across Russia.

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Naked Heart is still 410 short of its target of building 500 parks. But together with the support of businesswoman Silvana Armani and businessman Alex von Furstenberg, the organization can be assured that 410 parks is not hard to achieve.

More on philanthropy and the cause for children in this blog.

Nurturing the giving hands of the silver spoon kids

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The moral and emotional hazards of growing up rich have not disappeared. Neither have the neglectful nor controlling parents nor substance-abusing nor overindulged kids. But in high-income, high-net-worth circles, the conversation about the next generation no longer focuses on estate planning and wealth management. Today, people are talking about how to raise their sons and daughters to be wealthy, wise, and kind-hearted.

In the most affluent suburbs, parents are becoming increasingly worried about their children’s apparent good fortune. In fact, parental anxiety has become powerful enough that wealth advisors and wealth management bank offices have hired psychologists as consultants. This apprehension reflects something new - the growing concern of the rich on how money can affect behavior of the silver spoon kids, and more importantly on how money can be tied with philanthropy.

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Warren Buffet once said that “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like they can do nothing.” This reflects a more contemporary approach on wealth and giving. Today, money-makers are forming philanthropists in their children. Warren Buffet created three philanthropic children – Howard, Susie, and Peter. All have been involved in reducing hunger, strengthening education, and women empowerment. The von Furstenbergs through children Alexandra and Alex von Furstenberghave also been actively involved in the causes of their mother Diane.

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Preparing privileged heirs to be different, reflective, and philosophical can be difficult but it can be done. Philanthropy is a public expression of values. So in a way is raising children.

Read on this blog for more related information.

Big Brothers Big Sisters: Creating impact, one child at a time

For more than 100 years, Big Brothers Big Sisters has been operating under the belief that every child is designed to succeed and thrive in life. Driven by the vision to make success within the grasp of its wards, Big Brothers Big Sisters has been making meaningful changes in people’s lives through monitored matches between adult volunteers (“Bigs”) and children (“Littles”).

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One remarkable story is Zorina and Deva’s. Deva was a shy 6th grader when she first met her “Big Sister” Zorina. Hailed from a family of 10 children, Deva needed an attention and guidance her mother could not give to her 100 percent. For four years, Deva was molded and guided carefully by Big Sister Zorina, whose dedication has made Deva continually pushing for her dreams. Through the unwavering belief of Zorina in her Little Sister’s potential, Deva has won a scholarship to an all-girls boarding school. She is the first in her family to receive an academic scholarship, and if she does well, this might pave the way for her younger sisters to attend one day. Today, Deva, through the help of her Big Sister and friend Zorina, is working on achieving her dream of attending Harvard University and eventually going to law school.

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The story of Deva and Zorina is just of one the many successes of Big Brothers Big Sisters. Since its conception, the organization has salvaged 46% of its ward from the clutches of drugs, 27 % from alcohol abuse, 52 % from skipping school, and 33% from crimes.

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Alex von Furstenberg is a businessman and philanthropist at heart. He is one of the supporters of Big Brothers Big Sisters. Know how you can help through this Facebook page.

Big Brothers Big Sisters: Creating impact, one child at a time

For more than 100 years, Big Brothers Big Sisters has been operating under the belief that every child is designed to succeed and thrive in life. Driven by the vision to make success within the grasp of its wards, Big Brothers Big Sisters has been making meaningful changes in people’s lives through monitored matches between adult volunteers (“Bigs”) and children (“Littles”).

Image Source: geauga.org

One remarkable story is Zorina and Deva’s. Deva was a shy 6th grader when she first met her “Big Sister” Zorina. Hailed from a family of 10 children, Deva needed an attention and guidance her mother could not give to her 100 percent. For four years, Deva was molded and guided carefully by Big Sister Zorina, whose dedication has made Deva continually pushing for her dreams. Through the unwavering belief of Zorina in her Little Sister’s potential, Deva has won a scholarship to an all-girls boarding school. She is the first in her family to receive an academic scholarship, and if she does well, this might pave the way for her younger sisters to attend one day. Today, Deva, through the help of her Big Sister and friend Zorina, is working on achieving her dream of attending Harvard University and eventually going to law school.

Image Source: bigbrothersbigsisters.ca

The story of Deva and Zorina is just of one the many successes of Big Brothers Big Sisters. Since its conception, the organization has salvaged 46% of its ward from the clutches of drugs, 27 % from alcohol abuse, 52 % from skipping school, and 33% from crimes.

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Alex von Furstenberg is a businessman and philanthropist at heart. He is one of the supporters of Big Brothers Big Sisters. Know how you can help through this Facebook page.

Investment 101: Understanding investment vehicles

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Not all investment vehicles are created equal or work for one’s financial goals. Some provide steady income, but yield small returns on investments. Others may provide significant returns, but require a long-term investment commitment.

For investors, there is a wide variety of investment vehicles to choose from. Of the most popular are mutual funds, traditional IRAs, savings bonds or bond funds, Roth IRAs, and stocks.

Mutual funds

Mutual funds are invested in different securities which may include bonds, stocks, and/or money market securities. It is important to note that mutual funds differ from an investment trust, which issues shares in the company itself.

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Traditional IRA

This is a personal savings plan that gives tax advantages for savings retirement. Investments may include a variety of securities. Contributions in traditional IRA may be tax-deductible. However, earnings are not taxed until they are distributed. Risk levels under this type of asset vary according to the holdings in IRA.

Roth IRA

Roth IRA is another type of personal savings plan wherein the earnings that remained in the account are not taxed. Risks associated with this type of investment are relatively low.

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Bonds and bonds funds

These are also known as fixed-income securities because the income paid is fixed once the bond is sold. Bonds and bonds funds are usually invested in corporate or government debt obligations and are usually low-risk.

Stocks

Stocks represent a share of the company. As the company’s value rises or falls, so does the value of the stocks.

Alex von Furstenberg is an expert in investing. You can find more discussions on investment at this Twitter page.

Operation Smile: Making people smile for more than 30 years

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 “We believe that all children deserve to live their lives with dignity. And for those suffering from cleft lip, cleft palate, or other facial deformities, dignity begins with a smile.” – Operation Smile

For children who are born with cleft lip, cleft palate, and other facial deformities, their imperfect smiles are a cause of social stigma and bullying. In addition, such deformities also keep them from living a normal life. Everyday activities such as eating, speaking, and smiling are greatly affected.

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 Knowing a single smile can heal hearts and inspire others, Operation Smile has pledged to bring the gift of smile to children with facial deformities. Founded in 1982, Operation Smile is an international children’s medical charity that “heals children’s smiles, forever changing their lives.” More than a charity and an NGO, Operation Smile is driven by medical professionals and caring hearts with the interests of the children at the top of their list.

In a span of 30 years, Operation Smile has provided more than 3.5 million comprehensive patient evaluations and over 200,000 free surgeries for children and young adults with facial deformities in over 60 countries. To date, the foundation continues its mission, taking one step at a time in bringing the gift of smile.

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 Many big names have been supporting Operation Smile through the years. Celebrities like Jessica Simpson, entrepreneurs like Alex von Furstenberg, and corporations like Johnson & Johnson have been helping Operation Smile bring new life to children around the world.

This website lists the different organizations that Alex von Furstenberg supports.

A note to investors: Questions to ask before investing

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Investing is a risky business. It is important that investors conduct a thorough evaluation of the background of the business they are interested in before handing over their hard-earned money.

The Securities and Exchange Commission offers some tips on what investors should do before jumping in with both feet. Below are questions any investor must ask to avoid future financial troubles:

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 Questions about the product

1. Is this investment product registered with the Securities and Exchange Commission (SEC) and with my state securities agency?
2. How will this investment make money? Through dividends, interests, or capital gains?
3. What is the total sum to purchase, maintain, and sell this investment?
4. How liquid is this investment? How easy will it be to sell if I needed my money?
5. What are the specific risks associated with this investment?
6. Where can I get information about this investment?

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Questions about the progress of investment

1. How frequently do I get statements?
2. Is the return of investments meeting my expectations and goals? Is this investment performing as I was led to believe?
3. How much money will I get if I sell my investment today? 

But what if the questions were answered satisfactorily yet a problem still arises? In any endeavor, especially in finance, the occurrence of unforeseen problems is inevitable. When faced with financial challenges, there are several steps an investor can take: talking to financial professionals and their supervisors, writing to the compliance department of the firm’s headquarters, and asking for help from the SEC.

This Alex von Furstenberg blog offers more tips on how to invest wisely.

St. Jude Hospital Foundation: Running for a cause

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Everybody has the power to touch and change another person’s life. One does not need to do a grand gesture – even, running, no matter how small of an act it is, can do wonders in the lives of others.

For the St. Jude Hospital Foundation, everybody can be a hero to children battling cancer and other fatal diseases. Together with Nissan, the foundation is set to hold a marathon on April 27, 2013 at the Centennial Park in Nashville, TN. The race, called Music Marathon and Half, is set to achieve a larger goal of finding cures and saving the lives of the afflicted children. In this race, every runner will be hailed a savior; their every step leads to the increased chances of saving the children’s lives.

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Those who are interested in joining the race to help the children can do so by registering online. Runners must be at least 18 years old to join the Marathon and 12 years old for the Half Marathon. To thank the participants of this charity event, organizers of the marathon will give the runners Brooks Technical participant shirts, swag bags, free admission to the Finish Line Festival and Post Race Concert, and free admission to the two-day Health and Spa Expo. Proceeds of the run will be used to find cures for the children’s health conditions.

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Music Marathon and Half is one of the many efforts of the St. Jude Hospital Foundation in helping young cancer patients. Supporters of the foundation, such as Alex von Furstenberg and Eric Trump, are making it possible for the St. Jude Hospital Foundation to accomplish its mission.

Know how you can help by visiting this blog.