SBD/10/Sports Society

THE GIVING BACK FUND OFFERING ONE-STOP PHILANTHROPY SHOPPING

          The Giving Back Fund, which was formed by Marc Pollick
     a year ago, "is offering athletes a one-stop service for
     establishing and administering foundations, plus the
     opportunity to turn their lucrative salaries into
     philanthropic endeavors," according to Gregg Krupa of the
     BOSTON GLOBE.  The MA-based non-profit organization has been
     granted "tax-exempt status as a full-service public charity
     in all 50 states."   The Fund is "composed of individually
     identified donor-advised funds and foundations, each with
     donor-appointed trustees."  Among Fund advisers are Bob
     Costas, Florence Griffith Joyner and Bill Walton, and Doug
     Flutie has used The Giving Back Fund to start a foundation
     to fight autism.  For now, the Fund is receiving services on
     a reduced fee, or pro bono basis from BankBoston, Ernst &
     Young, Hale & Dorr and Silverman Media and Marketing.  The
     Fund, which started with $250,000 in seed money, now has
     "about" $500,000 "under management."   Pollick's goal is
     $20M in assets by 2002 (BOSTON GLOBE, 8/9).

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