The Bertelsmann Stiftung, in cooperation with a number of other interested entities, has launched PHINEO to provide guidance for German social investors on how best to invest their money. Based on the UK’s New Philanthropy Capital model, PHINEO was registered as a charitable, listed company under German law in December 2009; it will become operational on 1 April this year.
The rationale for the new organization is the clear need for quality-assured orientation for social investment. The existing Orientation for Social Investors initiative provides research reports on various fields of philanthropic action to demonstrate where and how giving produces greatest impact. In addition, selected charities – which have been analysed on a voluntary basis with respect to efficiency of their organization as well as their effectiveness and impact – provide examples of good practice approaches.
PHINEO aims to substantially scale up these activities. The results are presented both to the wider public through an online portal, on which donations may be made, and to special target groups like high net worth individuals or banks and private wealth managers in the form of consulting services. To date, some 100 non-profits, with activities ranging from musical education to children and nutrition, the environment and general civil society issues are listed and described. In the course of 2010, three further reports will analyse another 50 to 75 charities from other fields.
The main shareholders of the new company include the Bertelsmann Stiftung, the German Stock Exchange, Stiftung Mercator and KPMG. Dr Andreas Rickert, a former director of Bertelsmann Stiftung, has been named CEO.
For more information
Contact Andreas Rickert at Andreas.Rickert@bertelsmann-stiftung.de