I sometimes wonder if, in five years or so, we'll have come to some agreement on a definition of "venture philanthropy" or even if we'll still have the phrase in our vocabulary. Will we continue to read about entrepreneurs who have achieved astounding wealth while still in their formative years, and who now are wrestling with how to "make a difference?" Without a crystal ball, we'll need to settle for learning more about the charitable instincts of those who did, indeed, already acquire untold wealth, and look, not just to the hagiographic profiles in business magazines, but for factual examination of their philanthropic behavior. We now have such an analysis in Agent-Animated Wealth and Philanthropy: The Dynamics of Accumulation and Allocation Among High-Tech Donors.

Paul G. Schervish, Mary A. O'Herlihy, and John J. Havens, of the Boston College Social Welfare Research Institute, undertook this survey in the first quarter of 2001 by conducting confidential interviews with twenty-eight individuals who fit certain criteria: holding wealth gained from the high-tech industry (most participants had family net worth of more than $5 million) and being active in philanthropy. After an initial letter of invitation, participants were interviewed by telephone. (Both the letter and the questionnaire used in the conversations are reprinted in the book.) Questions revolved around direct contributions to charities, religious groups, or individuals, as well as involvement with private or community foundations during 2000. Data was also compiled about the formal and informal volunteer activities of the participants. Other questions were asked about their personal backgrounds in order to create a profile of this group.

The authors do not claim to have a complete picture of all new, high-tech wealth holders, but are confident in the accuracy of the data collected about this sample. They find that some aspects of the group's giving remain traditional, and all are involved in a variety of charitable approaches. However, some aspects are distinctive. To describe what is really new, the authors coin the term "agent-animated philanthropy," described this way: "any form of philanthropy in which high-tech donors strive to be productive of outcomes in the same way they have been, or continue to be, formative of outcomes in their business ventures in the knowledge economy." What this means is elaborated in some detail by the authors.

The book is peppered with lengthy quotations that make these participants seem very real. Some of their vision, optimism, determination, and concern make for dynamic reading. Without that crystal ball, no one can know if their fortunes, or their charitable interests, will flourish. But this book gives us a well-focused snapshot of the potential legacy of twenty-eight venture philanthropists —— whether we can agree on definitions or not —— and should be of interest to fundraisers and serious students of philanthropy. Schervish's and Havens' long-standing research work on philanthropic motivations and behavior lends a certain authority to this effort. (The book is available for viewing and downloading at http://www.bc.edu/bc_org/avp/gsas/swri/. Look under "Publications", and then "Publications by Title.")

 For additional citations to literature on this topic, refer to Literature of the Nonprofit Sector Online, using the subject term "Venture philanthropy".