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Bolder Giving: Charity of the highest level
Key Excerpts from Article on Website of San Francisco Chronicle (San Francisco's leading newspaper)
Posted: July 26th, 2009
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/07/16/...
Berkeley's Mike Hannigan gives most of his money away. It started in 1991. He had about $20,000 in his bank account and thought about all the good it could do in the world. With partner Sean Marx, he started Give Something Back Inc., an office supply firm that now gives away up to 80 percent of its profit. The company has given away about $4 million to community charities over the last 18 years. That puts Hannigan in a small circle of individuals who are recognized for giving away at least half their income, profit or personal wealth. This so-called "50 percent league" is the brainchild of a national nonprofit organization called Bolder Giving, which has highlighted these givers since its inception in 2007 in the hope that others will take a closer look at how much they give and how much more they could afford to contribute. Every year, the average U.S. household donates about 3 percent of its income. Yet deep in the heart of this recession there is a growing group giving away at least half of what they've got. Currently, 125 individuals or families are on the 50 percent club list and Bolder Giving, based in Arlington, Mass., is looking for more members. At Hannigan's Oakland-based company, the vast majority of the profits go to charities selected by customers and employees. Food banks and education-related organizations are among the most frequent recipients, Hannigan said. It's a way "to use the business as a mechanism to circulate wealth throughout the community," he said. The 59-year-old businessman doesn't consider himself a philanthropist, but an activist who lives a comfortable life.
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