Does it pay to give?

What NYC donors get for their donations: A look at philanthropy’s close ties with deal-making

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From the December issue: Giving to charity may be personally satisfying, but that’s not the only reason why real estate bigwigs do it. In many cases, philanthropy benefits the donor just as much as the recipient.  Indeed, in many cases writing a check with a lot of zeros not only helps the cause at hand, but can also grease the wheels for a future real estate deal. In addition, sources said one of the main reasons many top real estate executives sit on the boards of high-profile cultural, education and healthcare institutions is that they get to hobnob with other influential players in the business world (see related: The charity web). The galas and charity events held by the elite institutions allow real estate pros to mingle with influential private equity executives, hedge funders, political officials and other deal-makers in an informal setting. [more]