Foundations

Unifying Europe

The nonprofit Erste Foundation is an engine behind the for-profit Erste Group as well as its largest shareholder.

It sounds like a Hans Christian Andersen fairy tale, recast for modern capitalism: In 1819, a Catholic priest founds a savings bank in Vienna to help poor people who have moved to the Austrian capital manage their money through a common fund supported by wealthy citizens. Johann Baptist Weber, the priest turned banker, made history by launching Austria’s first savings bank and strengthening egalitarian ideas. Today, that bank remains historically significant as one of the largest financial...


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Notes

Disclosure: Johanna Mair, SSIR’s academic editor, serves on the Erste Foundation’s Advisory Board.

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Foundations

Defining Risk in Philanthropy

Featuring Steve McCormick

Steve McCormick, president of the Gordon and Betty Moore Foundation, discusses what risk really means to both nonprofits and foundations, and why foundations should take more risks.

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Foundations

Efficient Philanthropy

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Foundations

Leadership Is Everything

Featuring Mario Marino

Mario Morino, co-founder of Venture Philanthropy Partners, discusses how important leadership is to the culture, performance, and success of an organization.