GIFT's first precedent was to establish $1 million fund benefiting Yale University. Its anticipated long-term growth is $733 million. 2003
Double Charity Worldwide
Visit the Global Investment Foundation at: www.globalinvestmentfoundation.org
The idea for GIFT (the Global Investment Foundation for Tomorrow) came out of the Social Security debates. The Social Security opportunity was all about using the power of compound interest to create a nation of savers and shareholders. In Seattle, Washington Bruce Chapman kept telling me to research the Ben Franklin story. Finally I did.
Sam Beard launching GIFT in Bali in May 2006
In his will Ben Franklin left 1,000 pounds to Philadelphia and 1,000 pounds to Boston, and instructed his administrators to invest the money untouched for 100 years. Hundreds of projects were funded with this money, and some still exists today giving out scholarships.
We took the Ben Franklin idea, and have set out to double charity around the world using the power of compound interest.
In May 2006, we launched GIFT in Bali at an international conference co-chaired by Bishop Desmond Tutu and Walter Cronkite. 600 people from over 40 nations attended.
Invest $1 million at 10% for 108 years, it becomes $30 billion.
GIFT raised $100,000 to create a long-term endowment benefiting inner city Future Stars in Wilmington, DE. The anticipated long-term growth exceeds $184 million. 2007
Today, we have established three long-term endowments using this concept:
$1 million at Yale University (the money was set aside 2003 through 2007); $4.5 million through the National Development Council (the money is being set aside 2005 through 2024); and $100,000 to benefit an inner city scholarship fund in Wilmington, Delaware.