Giving Compass' Take:

• Ollie Williams highlights nine philanthropists who are transforming philanthropy through innovation, investments, and charitable giving. 

• Do your philanthropic practices need a review? How are organizations you work with dealing with new challenges and ideas? 

• Read about fellowships that encourage driving philanthropy forward.

Sunday, August 11, was the centenary of the death of the world's greatest philanthropist, Andrew Carnegie.

The following day (August 12), nine present-day philanthropists were named as recipients of the Carnegie Medal of Philanthropy in recognition of their Carnegie-like commitment to charitable causes.

The medal, which has been given out ten times since 2001, not only celebrates generous philanthropists, but those who espouse the values of the great man.

“He had a revolutionary vision of giving away his fortune, not as charity, but through investments in people that have the potential to achieve lasting change," said Vartan Gregorian, president of Carnegie Corporation of New York and chairman of the selection committee.

Morton L. Mandel 
Mandel once dropped off the Forbes billionaires' list, but that's something Carnegie would approve of with his mantra that "the man who dies thus rich dies disgraced." The sibling co founders of Premier Industrial Corporation have since started the Jack, Joseph and Morton Mandel Foundation to "contribute to the flourishing of the United States and Israel as just, inclusive, compassionate, and democratic societies."

Marie-Josée and Henry Kravis 
The Kravises, who owe their wealth to the global investment firm KKR, are heavyweight philanthropists whose names now bedeck some of America's finest institutions. These include Columbia University Business School, where they recently upped a $100 million gift to $125 million. Other funding has gone towards the Sloan Kettering Cancer Center, Rockefeller University and the New York Philharmonic.

Read the full article about people who are changing philanthropy by Ollie Williams at Forbes.