How Venmo Upended a Century-Old Charity Model

How Venmo Upended a Century-Old Charity Model
AP Photo/Elise Amendola

Raised in a six-bedroom mansion in Philadelphia’s outer exurbs — the kind with a grand circular driveway, tucked 100 yards from the street — 25-year-old Jake learned from an early age that wealthy families like his had a moral obligation to give back through charity.

Jake, who asked OneZero to protect his last name, shares his surname with a major college that renamed itself in honor of his late grandmother. His grandfather, the millionaire founder of a family-run tax software firm, cut $2,500 checks each Christmas to the charities each grandchild selected. Growing up, Jake watched his parents primp for charity galas and endow scholarships. They would casually pick up the tuition of kids they met on their international vacations. For a period in his childhood, Jake’s parents even operated their own children’s health nonprofit.

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