EDITOR’S NOTES

• Author: Duncan Neuhauser
• DOI: http://doi.org/10.1002/nml.21112
• Date: 01 September 2014
• Published date: 01 September 2014

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N M  L, vol. 25, no. 1, Fall 2014 © 2014 Wiley Periodicals, Inc.

Published online in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/nml.21112

Journal sponsored by the Jack, Joseph and Morton Mandel School of Applied Social Sciences, Case Western Reserve University.

EDITOR’S NOTES

IN THIS ISSUE, Gerrit Treuren and Elizabeth Frankish found that primary care workers who

become attached to their clients/patients tend to moderate their concerns about low pay and

thoughts of leaving as revealed in their article, “Pay Dissatisfaction and Intention to Leave:

 e Moderating Role of Personal Care Worker Embeddedness.”

Stuart Mendel and Jeff rey Brudney make distinctions in their article between, “Doing Good,

Public Good, and Public Value.” Using multiple case studies, they show how philanthropic

organizations can create public value through public-private partnerships and thereby create

a third space.

In two separate but paired articles, “ e Investment Returns of Nonprofi t Organizations,”

Garth Heutel and Richard Zeckhauser look at the investment returns for nonprofi t organiza-

tional endowments using data from 990 Forms. In “Part I, Tales from 990 Forms,” they show

that some organizations consistently get better returns.  e largest endowments consistently

do better. In “Part II,  e Value of Focused Attention,” the authors look at the characteristics

of nonprofi ts that consistently do better. Do organizations that compensate their chief execu-

tive more generously get better returns?

Diane Vinokur-Kaplan and Bowen McBeath present their fi ndings in “Co-located Nonprofi t

Centers: Tenants’ Attraction and Satisfaction.”  ey found that nonprofi t tenants preferred

such centers and wanted to continue on as renters.

Capital in the Twenty-First Century

by Thomas Piketty

 e rich are getting richer and the lot of the poor is not improving.  e economist  omas

Piketty has followed these trends of income and wealth inequality for over three centuries in

several countries. Nonprofi t managers and their teachers should heed these trends because

the source of funds for nonprofi ts are and will be aff ected. If economic growth is low and the

return on capital is high the wealthy will accumulate more and more. Piketty (Table 7–2)

states that in 2010 in the USA 70 percent of wealth was owned by the richest 10 percent of

the population.  e richest 1 percent owned 35 percent, and the poorest half had a mere 5

percent. If these trends continue, the top 10 percent will own 90 percent of the wealth.

 is book is recommended to scholar authors for its clarity of writing, comprehensible tables,

15 years of dedicated work to ascertain the best data, the author’s repeated admissions of his

data limitations, 75 pages of footnotes, the use of quantitative and qualitative data, a willing-

ness to cross disciplines and the use of data over three centuries.

It is also recommended to nonprofit leaders who need to know where their funding will

come from and what motivates possible donors. Extrapolating from Piketty’s logic, wealth

will come from inheritance or marriage, and marriages will be arranged as in the days of

Jane Austen’s Pride and Prejudice (1813). Piketty frequently cites Austen as an economic

textbook for our age too. But there are some important diff erences. Today, family composi-

tion can be planned.  ere need not be any poor but related “second sons of second sons”