In comparing traditional and new philanthropy, the point was made that new models look at human, social, and creative capital, while trying to minimize risk. However, that is the irony about successful investing for the future. It is neither always safe nor conservative. New York, Boston, Chicago, Atlanta, Detroit and others have undergone a remarkable transformation in the 1990s. Welfare rolls have plummeted.
Job growth is strong.
Retail and commercial activity is strong, even in some inner-city markets. Housing activity is robust. This success has come from innovative partnerships between foundations, churches, other nonprofit organizations, businesses that recognize the emerging marketplace of the inner city, forward-thinking government officials and other creative leaders and community residents who championed the cause. This progress is only half the story, though, since many of the nation's cities continue to be centers of dire poverty, struggling schools, and little economic growth. The audience was challenged to keep progress going.