Posted by on June 4, 2015

Things were different in the 1920s. Many charities started issuing “annuity bonds” with little understanding of the investment performance needed to meet high payment obligations. An actuary named George Huggins provided a safety net just before the Great Depression swept the industrialized world. Charitable fundraising became more sophisticated; staff specialists were in demand. This is the story of a true revolution in American fundraising.  See:  Revolution_Fundraising_Part 4

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