Tag: Penn State

Robert Downey Jr.’s Latest Philanthropic Investment

On February 17, 2021

In Blog, James Lustig, Jimmy Lustig, Philanthropy, Uncategorized

Iron Man star Robert Downey Jr. has been covertly making headways into the world of environmental research the last few years. In 2019, Downey Jr. founded the Footprint Coalition, an organization geared toward supporting scientific research and sustainability technologies. Earlier this week, Downey Jr. revealed a new arm of the Footprint Coalition at the Davos Agenda of the World Economic Forum: Footprint Coalition Ventures. Downey Jr. explains that Footprint Coalition Ventures will be the investment branch of the organization and that its mission will be seeking out and supporting companies that research sustainability.

Downey Jr. went into further detail on the goals of Footprint Coalition Ventures in an interview with reporters from Fast Company. Downey Jr. explains that creating Footprint Coalition Ventures will put the Footprint Coalition in a better position to help answer vital sustainability questions. Continuing, Downey Jr. says that Footprint Coalition Ventures have two types of funds, one for preliminary investments and the other for subsequent investment opportunities. Furthermore, the company follows a rolling fund investment schedule. In this manner, investors will be able transfer funds to companies on a quarterly basis, making Footprint Coalition Ventures more accessible to different kinds of investors. Downey Jr. adds that such a schedule opens the company to as wide a pool of investors as possible.

Footprint Coalition Ventures focuses on funding companies that research in six areas, including food and agriculture, energy, education, and advanced environmental solutions. Thus far, five companies, including Arcadia Earth and Cloud Paper, have received funds from Footprint Coalition Ventures.

Looking to the future, Downey Jr. says that he plans on using his status as a celebrity to raise awareness on the Footprint Coalition and sustainability ventures in general. While many other celebrities who are involved in similar organizations tend to keep a low public profile, Downey Jr. feels that it is his responsibility to use his platform to influence others. Jonathan Schulhof, who runs the day-to-day business of Footprint Coalition Ventures, points out that the company has used a YouTube video of Downey Jr. detailing the differences between plastic and polyhydroxyalkanoate, a new type of sustainable polymer invented by RWDC Industries, to help woo investors. Schulhof continues that such content can inspire audiences by making something extraordinary seem commonplace.

Five Great Books About Philanthropy in 2020

By Jimmy Lustig

On December 15, 2020

In Blog, James Lustig, Jimmy Lustig, Philanthropy, Uncategorized

With so many options out there, how – and why – should people consider giving? The five books below provide many answers to these and other questions, making for fascinating reading, both inspirational and impactful.

One of the best guides to the giving process is the traditional Inspired Philanthropy: Your Step-by-Step Guide to Creating a Giving Plan and Leaving a Legacy, by Tracy Gary. Efficient covers everything from the basics of plan making, working with advisors, the right questions to ask non-profits, and much more. The inclusion of worksheets, resource lists, and descriptions of planning tools is beneficial.

The Promise of a Pencil, by Adam Braun, tells the story of how one man’s actions impacted thousands of lives globally. After encountering a begging child and starting with only $25, Braun built an organization that has helped build over 250 schools worldwide. Inspirational and uplifting, if ever there was an argument for the power of giving, this is it.

In The Soul of Money: Reclaiming the Wealth of Our Inner Resources, Lynne Twist offers positive proof that changing our attitudes towards earning and spending money can make our lives more meaningful and fulfilling. Challenging everyday assumptions about society’s views of money, the author illustrates her journey from conspicuous consumer to non-profit activist in an honest, no-punches-pulled way.

Sharna Goldseker and Michael Moody bring a fresh perspective in Generation Impact: How Next Gen Donors Are Revolutionizing Giving. Moving between first-hand accounts and analysis of a new class of doner’s work, the book shows the impact of young rising stars of philanthropy in disrupting traditional giving models and creating entirely fresh approaches to the field.

Another disruptive approach to giving is Impact Investing: Transforming How We Make Money While Making a Difference by Antony Bugg-Levine and Jed Emerson. The new field of impact investing is thoroughly explained, showing how it’s possible to “blend” investment success with positive change.

This year, perhaps more than in most, it’s essential to consider how a charitable contribution can positively impact peoples’ lives. The wisdom and practical advice that abound in the five volumes discussed will hopefully inspire and energize in equal measure.

Student-Run Philanthropy Spotlight: THON

By Jimmy Lustig

On December 16, 2019

In Blog, James Lustig, Jimmy Lustig

It began as a simple idea way back in 1973. Why not hold a dance contest to raise money for kids battling cancer? Since then, students at the University of Pennsylvania have turned that first dance fest into one of the most successful fundraising movements in American history. THON – short for dance marathon – was the brainchild of then Penn State Interfraternity Council President Bill Lear.

The first THON drew 78 dancers, lasted 30 hours and raised just over $2,000. Since then, THON has raised an amazing $168 million. The money is delivered to the Penn State Children’s Hospital where it is used for the direct care of patients and cancer research.

The annual Penn State THON has spun off numerous “mini-THONs” held at area high schools. These have raised an additional $36 million for Four Diamonds, a foundation associated with Penn State Children’s Hospital.

Today THON events are huge and have become an annual institution for Penn State students. Thousands of participants flocks to the Bryce Jordan Center to either dance or cheer on dancers determined to prevail in the grueling marathon event.

Keeping the events organized and safe requires literally hundreds of highly coordinated volunteers handling an array of specialized tasks. One of the 16 groups, for example, is charged with monitoring the health, hydration and well-being of the “thonners” who may be on their feet dancing for up to 46 hours.

In addition to raising money to treat kids with cancer and pay for medical research, THON events are invaluable for raising public awareness. That’s important because pediatric tumors are so rare, many people don’t know this problem exists. Pediatric cancers are less than 1% of all malignancies and will affect 1 in 200 families. About 16,000 cases are reported annually for people age 20 or younger.

While it’s a good thing that pediatric cancer is rare, it presents problems for medical researchers who are working to treat and cure the problem. Limited awareness makes raising funds extremely difficult. That’s exactly why THON is a blessing for those afflicted and those determined to beat this disease.

THON is the largest student-run charity in the world. It has helped more than 4,000 families and has marshaled the contributions of 16,500 student volunteers.