Giving Compass' Take:

• In this story from Chicago Business, author Lisa Bertagnoli discusses Steve and Jessica Sarowitz's plans to give away at least a billion dollars during their life.

• What can other philanthropists learn from the Sarowitz's example? What resources might be useful to guide giving on the scale that the Sarowitz's are giving?

• For an analysis of the giving habits of India's richest citizens, click here.

[Steve] Sarowitz, 53, and his wife, Jessica, 52, are Chicago's newest billionaires. Their wealth comes from Schaumburg-based Paylocity. Sarowitz held 44 percent of the stock when he took the company public in March 2014. The IPO established his family's wealth, and the company's continued success—Sarowitz owns 28 percent of the stock, valued at $1.38 billion—adds to it. As this city's billionaires go, they're low-key. There's [his $40] watch, a 10-year-old Camry with a dent in the bumper and the family home in Highland Park, which they bought in 2006 for $1.8 million. You'd be forgiven if you thought this was all part of a Warren Buffett-esque, just-folks sort of posturing. But there are no second houses, no boat, no plane, confirms Alison Lopez, executive director of their foundation. It all seems to be completely genuine.

 

[T]he Sarowitzes plan to give away at least $1 billion before they die, to causes that fight racism, sexism, nationalism and religious prejudice. "We believe in the nobility of all human beings," says Steve Sarowitz.

They have two vehicles for philanthropy: their own pockets and the Julian Grace Foundation, named after their 16-year-old twins. The Sarowitzes have taken bigger risks, and made bigger donations, with their personal giving. "We are catalytic capital," says Jessica Sarowitz, who manages the day-to-day philanthropic work. For instance, the two helped fund Impact Shares, the nonprofit that helped launch exchange-traded funds for the YWCA and NAACP. They also contributed about $10 million to build the nonprofit Chicago Center for Arts & Technology on the Near West Side.

Read the full article about the Sarowitz's by Lisa Bertagnoli at Chicago Business