About Us

Gifting Policy

The basic philosophy of the Foundation is that it should last into perpetuity for the benefit of those for whom it was founded. This implies having a resource base that keeps on growing through the use of an investment policy that earns substantially more than it gifts away such that the resource base keeps growing at a faster rate than its gifting rate. This is the technique used by the world’s best known philanthropies such as the Nobel and Rhodes Foundations. Each will last for as long as planet earth lasts.

Early in its first 25 years, the Foundation operated on the basis of

  1. Perpetual expectation of growth in the amount of its resources, and
  2. Gifting away, each year, up to 75% of that year’s investment income. The emphasis is on ‘up to’, implying that, where the circumstances dictate, the gifting would be less than the allowable maximum.

In time, and as the country’s economy weakened, some reality started setting in. Three of these were, and still are:

  1. If the economy does not grow, the chances for growth in the Foundation’s resource base will be negatively impacted
  2. It is only possible to give, if one has the wherewithal to give
  3. With the continuing devaluation of the Jamaican dollar over time, the size of requests kept getting bigger as illustrated by the Prostate Cancer Project which had to be abandoned because the Foundation did not have a strong enough financial base to support it.

Genesis of the Hundred Million Dollar Initiative

It is out of this stark reality that the idea of this Hundred Million Dollar Jamaican Philanthropy was born. The expectation is that the resource base will be nurtured and allowed to grow to this sum in the shortest possible time so that it gets to a place where it can:

  • make meaningful gifting, and,
  • continue to do so into perpetuity because,

its resource base is allowed to grow much faster than its gifting away propensity.

To ensure that this happens, the original ‘up to 75%’ of each year’s income will have to be reduced significantly in the Ten Year Development period leading up to the $100,000 Million target.