What We've Learned About Giving: "Be Wary if you hear of a program or idea that is too good to be true. There are no 'silver bullets' that can fix entrenched social problems with one, swift, inexpensive intervention. The real solutions generally come at a problem from multiple approaches, and they take time, money, copious talent, and long-term commitment." - David and Katherine Bradley

When Warren Buffett’s staggering donation of $36.1 billion was added to the Bill and Melinda Gates Foundation’s coffers (which already had $30 billion), many proclaimed this to be a new golden age of philanthropy, harkening back to the days of the Rockefeller, Mellon, and Carnegie endowments of countless worthy causes across a broad spectrum of American life. Yet, just a few years later, we are in an economic recession with the contributions of wealthy local residents now shrinking. Some generous donors were hard hit by the Madoff scandal, many others have had major losses in real estate or because of the stock market’s broad decline. As the local supply of capital has fallen for both individuals and private foundations, the need for philanthropy has correspondingly increased. Plus, much giving was directed towards political campaigns in 2008, with many charitable contributions taking a backseat to the historic election. But the tide will turn again.

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In a city where influence is everything, these one hundred individuals rise to the top. Some are wealthy, but many are not. They represent a wide variety of professional fields, from faith to finance; but they all share two common traits: They work outside the federal government and hold sway inside the Beltway.

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Power, above all, is influence. New York Fashion week bloggers tell Americans with authority that this is the year of the [insert arbitrary skirt length], and America purchases accordingly. The Washington socialite-hostess gathers the ripe fruit of political, economic, and cultural orchards and serves it up as one fabulous cherry bombe at a charity fundraiser or a private soiree with Cabinet secretaries and other major political players. Two men shake hands in the U.S. Senate and a bill passes – or doesn’t. The influence to effect change, be it in the minds or actions of one’s fellow man, is simultaneously the most ephemeral quantity (how does one qualify or rate it?) and the biggest driving force on our planet.

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Who has it… and who gives it away.

By Beth Farnstrom

Robert and Marion Rosenthal

“I go to Washington – if only to be near my money,” comedian Bob Hope once quipped. But forget about taxes pouring into federal coffers: With cash to flash, members of Washington’s growing mega-millionaire’s club (50 Million Plus) like to show their green in perhaps, sometimes ritzy, but mainly philanthropic ways.

Buy a baseball team? No problem. Accessorize with megawatt Hollywood stars Tom Cruise and Katie Holmes? Ditto. Underwrite productions at the Kennedy Center? Done.

Washington’s wealth – sparked by the dotcom boom of the ’90s and fueled by the ever-rising real estate and stock markets – has “put a lot of money in people’s pockets and created a new level of wealth in Washington,” says developer Ed Asher of the Chevy Chase Land Company. While ten Washingtonians made the latest Forbes 400 list with fortunes in the billions, wealth is spread far and wide these days. Fortunes have been built on the backs of new technology, media, sports, real estate, government contracts and, of course, Washington’s original industry: politics. In just three years, the number of Washington area families with liquid assets (that is, not counting residential property and 401Ks) grew a whopping 60 percent, from 88,000 in 2003 to 140,000 in 2006. Similarly, in a slightly higher stratosphere, those with $5 million plus in liquid assets grew 53 percent, from 15,000 to 23,000 families, according to Phoenix Marketing International.

Where the money goes, the charity flows and, yes, luxury follows, and how!

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