The Entrepreneur's Evolution to Philanthropist

Abstract

Entrepreneurs who evolve into philanthropists make contributions on broad fronts, for example, to the economic effects in their communities and nations and to the social issues of various kinds that they embrace as challenges. This article is an early excursion into understanding the process by which entrepreneurs make the transition from entrepreneurs in the economic realm to philanthropists involved in various social issues. The article draws its insights from the evolution of Ewing Marion Kauffman, founder of the successful pharmaceutical company Marion Laboratories and also the Kauffman Foundation, which has had a unique entrepreneurship focus addressing the needs of entrepreneurs, researchers, and educators throughout the United States and beyond. The Kauffman case study demonstrates that the entrepreneur's leave taking of his or her company and the entry into the nonprofit or philanthropic world are processes. The research identifies a number of issues associated with these overlapping and integrated processes.