June 11, 2024
Solidaire in Barron's
Solidaire Network Executive Director Rajasvini “Vini” Bhansali was recently featured in an interview for Barron’s, a financial publication. The article, “Who’s Who in American Wealth Are Putting Their ‘Money to Work Now’ With Donor Network Solidaire,” highlights Solidaire’s grantmaking values and outlines the importance of breaking the norms of conventional philanthropy.
“Traditional philanthropy as we know it is a tax haven. The highest standard for good traditional philanthropy is that a minimum 5% of a foundation’s assets need to get paid out annually to get tax breaks. But that 5% might include what families pay themselves and their advisers—the “expenses.” It’s not 5% going toward public benefit. So we have 95% of the wealth sitting there, waiting for some rainy day, while we’re facing a massive climate crisis with a ticking clock. Our belief is, let’s liberate this wealth now. Let’s put the money to work now.“
— Vini Bhansali for Barron’s
Vini’s interview demonstrates the value that Solidaire offers to wealth holders by providing a political home to move resources in a way that can have long term impacts toward building a just society.
“Most people are attracted to us for a community and what I’d call a political home. They can practice a new view of the world and make connections with others who are giving. They’re often in spaces where they’re told how they should behave. But humans need spaces where they can be human.”
— Vini Bhansali for Barron’s
