James Dondero Tips on Philanthropy
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Did you know that more than 6% of corporate profits go to charities? This figure is arguably one of the highest in the world. A 2016 report pointed out that corporate America is generous and the trend is estimated to continue for the next two decades. James Dondero has however approached charity from a different perspective. Unlike the mainstream approach to philanthropy, Dondero is doing some concrete projects in his city. In an interview last year, Dondero pointed out that philanthropy should be specific and should have a particular impact on the community. One of the most visible projects in his career is his contributions to Dallas Zoo.
James Dondero contribution to this project is an important lesson to the corporate America. Dallas Zoo is one of the treasures to the people of Dallas and for many years, the treasure was slowly dying due to lack of funds. Fortunately, Dondero was one of the investors that were determined in making a difference and save this treasure. He realized that the zoo did not have a Hippo habitat, which means a lot to the people of Dallas. Since James Dondero understand the value of this specific project, he was one of the highest contributor to this amazing project.
James Dondero contribution to this project also illustrate the importance of research. It is estimated that almost to 50% of all the money donated by corporate America goes to unproductive projects. However, Dondero believes that this should not be the case. Simple research can help the corporates have control about the money they donate and the impact they have on these projects. Second, conducting research can help companies in determining whether the projects they want to be part of having public benefits or not. Although the term ‘communal’ in the philanthropy world can mean a lot of things, James Dondero points out that any charity should bring togetherness to the community.