Peter Dodge and PGDF are pleased to announce the launch of Young Philanthropists Initiative (YPI). This new program will engage those under 50 years old with $50M or more in assets, asking them to commit to allocating at least 50% of their fortunes to charitable causes during their lifetime or at their deaths. The brainchild of entrepreneur Peter Dodge, YPI joins the Peter G. Dodge Foundation, Hanover Research, and GP Ventures among his founding endeavors.
“This initiative has the potential to mobilize billions of dollars to make the world a better place,” states Director Elizabeth Cairns. “We are very excited to get YPI started, and will soon announce our charter members, as well as partnerships with key organizations in the philanthropic arena.”
FOR IMMEDIATE RELEASE
September 4, 2018
Young Philanthropists Initiative aims to spur giving, volunteerism.
NEW YORK, NY– A new initiative for successful young Americans challenges them to use their wealth to create a better world for others.
Inspired by The Giving Pledge, Young Philanthropists Initiative (YPI) is a peer community that spurs the next generation of philanthropists to increase their giving and involvement in charitable causes.
Engaging people who are under 50 years old with $50M or more in assets, YPI asks its members to commit to allocating at least 50% of their fortunes to charitable causes during their lifetimes or at their deaths, and to involving themselves in non-profit leadership and volunteerism.
“There are only so many ways to spend money,” states Peter Dodge, founder of YPI. “The trappings of wealth look almost identical from one person to the next. Philanthropy, on the other hand, provides an opportunity to create. There, one can innovate and make use of wealth in a way that is unique. I want my peers to join me now in establishing a legacy that will make the world a significantly better place.”
Mr. Dodge is no stranger to philanthropy, having created The Peter G. Dodge Foundation (PGDF) in 2014. From its beginnings as a small, private foundation, PGDF is now a national, publicly-supported grantmaking charity focused on improving treatment and recovery for those with alcohol addiction. To date, Mr. Dodge has invested over $3M in the foundation’s grant programs, which have served over 100,000 people, and he is determined to give away the vast majority of his money across the course of his life.
Like its antecedent, The Giving Pledge, YPI does not collect donations or grant funds to other organizations. It is simply a commitment to give, lead, and volunteer in the non-profit sector, and a community for those who have made this commitment. YPI is focused on those who have achieved a measure of success at a young age, who may yet join the Giving Pledge when they cross the billion-dollar threshold, and who would like to learn about the philanthropic world now.
Key goals of YPI are to expose members to the core tenets of philanthropy, to help them define their interests and strategy, and to encourage collaboration amongst members. YPI plans to offer mentorship and networking opportunities at its annual meeting. “We will connect experienced philanthropists and philanthropy-oriented organizations to our members, provide opportunities for members to meet, and facilitate problem-solving,” states Dodge. “YPI will be a forum that helps us all maximize our impact.”
Membership in YPI is by invitation. Once a member signs the pledge, they are given a member profile on the YPI website, www.youngphilanthropists.org. Prospective members may request an invitation through the website’s contact page.
Says Dodge, “The time to start giving is now. Collectively, we are sitting on billions of dollars that could be doing an enormous amount of good. Let’s put them to work.”
Please direct all press inquiries to:
Elizabeth Cairns, Director
410-246-1498 x 3