BC Center on Wealth and Philanthropy Expected to Close

The Boston Globe reports that Boston College’s Center on Wealth and Philanthropy, established in 1970, will cease operating when its leaders step down.  The Center’s director, Paul Schervish, a former Jesuit priest, and associate director John Havens, reportedly plan to retire soon, perhaps by this summer (barring the Center’s receipt of an unforeseen grant that would prolong their interest in operating the Center).  The Center’s work apparently has been tied closely to the unique, complementary backgrounds and personalities of its leaders: 

[B]oth [leaders] say their distinctive blend of expertise — Schervish’s background is in literature, sociology, and theology, while Havens’s training is in economics, mathematics, and physics — has created an academic partnership that would be difficult to replicate.

“We have a special chemistry, and that’s led to a unique working relationship,” Havens said.

The story features an interesting discussion on misconceptions about the relationship between estate taxation and philanthropy:

In 2006, the center published a paper refuting the long-held belief that the main reason wealthy people leave money to charity is to avoid estate taxes, and that charitable bequests would plummet if estate taxes were eliminated.

On the contrary, Schervish and Havens found, the wealthiest Americans tend to give to charity for more altruistic reasons once they reach financial security.

“We always focused on spiritual context,” Schervish said, “and our statistical work was always the foundation for a moral question: How can you use your wealth for deeper purposes when you no longer need to achieve a higher standard of living?”

The Globe reports that Schervish was recently appointed a visiting research fellow at Duke University and intends to serve on the faculty of Boston College until the end of the year.

JRB