| Summary: | This paper explores philanthropic finance by analysing data on the sizes and structures of the 20 highest-giving private foundations in the United States, the United Kingdom, Germany, and Japan in 2005. It is shown that socio-cultural rather than purely economic indicators are better predictors of private foundation giving. Foundations in the four countries show similarities in terms of age, geographic scope, areas of funding and lack of performance measurement. Methods of income generation, asset management, and capital deployment however, differ significantly between countries. We suggest that while philanthropic culture and governance exist, they bear the features of national business culture and governance. Conclusions are drawn for the feasibility of competition and collaboration, as well as the use of performance metrics, among private foundations.
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