The Dangers of Top-Heavy Philanthropy

The last couple of years have been boom years for philanthropy. Total donations from individuals, foundations and corporations rose in 2015 to more than $373 billion, a 10 percent increase since 2013.

But behind this statistic is a troubling trend. The charitable sector is getting a growing number of mega-donations from wealthy donors and experiencing a parallel decline in donations by low and middle-income households.

According to new study, "Gilded Giving: Top Heavy Philanthropy in an Age of Extreme Inequality," the U.S. is moving toward a philanthropic sector dominated and controlled by billionaire mega-donors, their foundations and donor-advised funds. This has dangerous implications for the independent nonprofit sector and the health of U.S. democracy.