| Notes |
There are many charities with close ties to individuals in the financial services sector. Organisations include Absolute Return for Kids (ARK), a foundation offering funding to charitable children's projects; Support and Help in Education (Shine) Trust, which funds educational projects for disadvantaged children; and New Philanthropy Capital, which advises donors how best to target their funds.
Wall Street has set a precedent for charities with financial services connections. Shine is modelled on the Robin Hood Foundation, an educationally focused trust set up by Paul Tudor Jones, a trader at Tudor Investment Corporation. At the Robin Hood Foundation, Shine and ARK, banking trustees pay all administrative costs so that money donated goes entirely to good causes.
It is no coincidence that many charities with financial services connections are focused on investing funds and measuring the outcome, instead of actual project implementation. |