After a long first 24 hours with my still-to-be-named puppy, I was thrilled to take 10 minutes by myself this morning to take a shower and brush my teeth. Enjoying showers is normal for me, but brushing my teeth always feels compulsory. Today it was a pleasure. Unfortunately, most people are like me and don’t really enjoy taking care of their mouths–some even completely ignore proper oral care. The consequences of poor oral hygiene are significant–it can be expensive, embarrassing, and even detrimental to your overall health. GoodMouth is a White Plains, NY based startup that wants to help “people, and their dentists, revolutionize the way oral care is done.” They don’t offer many details on their plan for doing this, but it’s not the kind of business that you see most startups building these days–that’s why I’m intrigued.
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Having so much money that you can give it away is something that we can all aspire to. The Haas family certainly achieved that. The donations started in 1945 through the Phoebe Waterman Foundation when they gave for “relief in post-War Europe, scholarships for fatherless children, and support for medical and educational institutions.” By 1955 the family was making grants of more than $100,000 a year, so they hired someone to manage the foundation. By 1970 the number reached $7 million per year, and the foundation was renamed the Willliam Penn Foundation. Today the fund has nearly $2 billion, and distributes approximately $80 million annually. The organization is based in Philadelphia, PA, and “is dedicated to improving the quality of life in the Greater Philadelphia region through efforts that foster rich cultural expression, strengthen children’s futures, and deepen connections to nature and community.”
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There’s no doubt that our country and world are better off because of the work of philanthropists. It’s especially impressive to watch what Bill Gates and Warren Buffett are doing with their billions of dollars through the Gates Foundation. Unfortunately, philanthropists, like money, don’t grow on trees. Since waiting for generous people to get rich could take a while, it’s a lot easier to try convincing people who are already rich to be more generous. That’s exactly what The Giving Back Fund, which is based in Los Angeles, CA, does. They are a non-profit organization that envisions “a society in which becoming a successful philanthropist is as valued and desirable a goal as success in athletics, business, entertainment, or any other field.”
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You know somebody is rich when they have a foundation named after them. You know somebody is really rich when their kids have their own foundations. That was the case with Andrew W. Mellon. In 1940 his daughter Ailsa Mellon Bruce established The Avalon Foundation, and in 1941 his son Paul Mellon established The Old Dominion Foundation. In 1969, with the combined value of the foundations at $220 million, the children decided to merge their foundations in honor of their father. That seems to have been a good decision considering that The Andrew W. Mellon Foundation, which is based in New York City, has assets totaling $6.5 billion in 2007. In case you don’t know who Andrew Mellon was, you can read his story here. The short of it was that he was held in the same esteem as men like Rockefeller, Ford, Carnegie, Morgan, and Frick, but he differed in that “he excelled in four fields of endeavor: as a businessman and banker; as a politician and statesman; as an art collector; and as a philanthropist.”
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