Philanthropist Richard Zahn Looks at the Science of Charity

PHILADELPHIA, PA, May 22, 2013

Richard Zahn is a professional who has remained quite active in the philanthropic sphere over the last few years. As a successful individual with regard to his business endeavors, he, like other thriving professionals, has made a commitment to giving back to the community by donating funds and volunteering time to organizations that are striving to improve the lives of residents. But a recent article published by The Wall Street Journal caught Zahn's attention, as it sheds light on a more practical--and far-reaching--approach to philanthropy.

The article is centered on the philanthropic efforts of John Arnold, a professional who thrived as a natural-gas trader at Enron and went on to create his own hedge fund. Now retired and just 40 years old, Arnold has turned his attention to the ways in which he can use his fortune ($4 billion) to improve the world via non-profit efforts. Instead of writing a check to an already existing organization, Arnold and his wife, Laura, have dedicated their time to pinpointing key issues in society (ranging from the legal system to the obesity epidemic), identifying industry experts who have the potential to make headway regarding these subjects, and facilitating the completion of groundbreaking research initiatives. Then, using the results of these initiatives, the Arnolds push for the relevant change in public policy.

Richard Zahn recognizes that not all individuals have the financial capability to bankroll such initiatives, so following in the footsteps of the Arnolds with regard to charitable activity is virtually impossible for the majority of professionals; however, the practical, scientifically-based approach that the Arnolds have taken is something that other philanthropists can emulate.

"Basically, the Arnolds are looking at non-profit work as a way to address key issues in today's world," Zahn asserts. "Just like they are looking for the most important issues to tackle with their research initiatives, the rest of us can look to support the efforts of organizations that are taking on some of the issues that we feel are most relevant. For instance, if a community has a large homeless population, philanthropists might consider working together--either by supporting an existing organization or even encouraging multiple entities to partner with one another--to create the best solution possible. By pooling resources to work on one major issue at a time, organizations that are out to improve issues like homelessness, hunger, literacy, etc. can make greater headway in their work."

But Zahn asserts that it is still important to support the work of local philanthropic organizations, as these entities are imperative when it comes to creating local change. He urges individuals with larger budgets to assist in funding research and other initiatives that can benefit the overall population and he recommends that those who have more limited funds or time to dedicate to philanthropy continue to work on a local level, as their support means a great deal to community residents. Whether it entails volunteering time or donating funds or resources, Richard Zahn encourages individuals to become active with regard to charitable work.

ABOUT:

Richard Zahn, a business professional who has achieved a great deal in his corporate career, has also dedicated his service to the United States Army. Additionally, he is an avid philanthropist who supports a wide range of non-profit and other charitable organizations, including Pathways to Home, MyLifeLine.org, Kids Only, and Pace Brantley School.