In early August, forty of the wealthiest families and individuals throughout the United States made a commitment  to returning the majority of their wealth to causes that are charitable by taking the Giving Pledge.  Bill and Melinda Gates along with Warren Buffett are the pioneers of this long-term charitable project.

Buffett and Gates have been asking wealthy families to begin the imperative dialogue about their wealth and how it will be used.  Not only have America's wealthiest families started to have this dialogue, but a majority of them have committed 50% more than minimum level.

The Giving Pledge is an effort to help address society’s most pressing problems and making a moral commitment to give, not a legal contract, and it does not involve pooling money or supporting a particular set of causes or organizations. While it is specifically focused on billionaires, the idea takes its inspiration from other efforts that encourage and recognize givers of all financial means and backgrounds.  You can view the families that have made the pledge by visiting the website.

Michael R. Bloomberg, Mayor of New York City, has made a pledge through this project.  Bloomberg says, "If you want to do something for your children and show how much you love them, the single best thing – by far – is to support organizations that will create a better world for them and their children. And by giving, we inspire others to give of themselves, whether their money or their time.”

Nonprofits across the United States are compelled by the Giving Pledge however, there is some slight confusion.  Most nonprofits are familiar with a grant process, endowments and relentless fund raising to acquire the funds they need to operate.  There is no grant cycle for the Giving Pledge.  There is no way to solicit funds from those that have made the pledge.  The funds will be given by each family or individual to the charities of their choosing.  The charities and causes that are the most near and dear to their hearts. Albeit a new and profound way to give back to charity, a majority of nonprofits operating today will never benefit from the Giving Pledge.

So, what is it then that nonprofits can do to market their cause in a more glamorous light?  What can nonprofits do to catch the attention of one of these families or individuals who have made the pledge?  The answer, many believe, is to keep doing exactly what you have been doing.  One of the major fundamentals of operating a nonprofit is to stay true to your mission. 

The Giving Pledge does have a theme of "all for one and one for all" running through it that inspires and appears to be contagious. It promotes a slight feeling of relief amongst some nonprofits that maybe, if their mission is harmonious with that of one of the billionaires who have made the pledge, they may benefit.

The money is real. The reality is, when it comes to this pledge and because there is no pooling of money or legal contracts, the only people that will ever know money has been exchanged is the family or individual making the pledge and the actual charitable cause.

A case study of the Giving Pledge at work involves an organization named Bolder Giving. Founded by a Boston couple Anne and Christopher Ellinger, the organization aims to get people across the economic spectrum to think about how to donate a higher percentage of their assets and how to become effective philanthropists who can inspire and collaborate with others.

In early May, the organization received a call from the Gates Foundation with an offer to support its work. Six weeks later the organization received a $675,000 grant so it could expand its reach.  Melinda Gates has referenced Bolder Giving's work as the impetus for the Giving Pledge.

So, as nonprofits continue to do their good work on a daily basis, keep the ringers on high as it is unpredictable as to when a call could come through from someone who has made the pledge.