Cancer Philanthropy, Wall Street-Style

Kristina Strain (Inside Philanthropy) – This ain’t your father’s cancer philanthropy. This ain’t some namby-pamby Race for the Cure-style charity outfit or a lumbering legacy foundation. This is cancer philanthropy, Wall Street-style.

The Pershing Square Sohn Cancer Research Alliance (PSSCRA) is less than eight months old, and already making its first round of gifts, already pushing the research envelope, already driving the frontier forward, seeking “catalytic” projects to advance standard-of-care for cancer patients everywhere.

At least it kind of looks that way.

Pediatric cancer, in particular, is an area of focus for PSSCRA, and here’s why: Half the muscle behind the alliance comes from the Sohn Conference Foundation, which was founded in 1995 in after Wall Street trader Ira Sohn died from cancer at the tender age of 29. The money—$25 million, to be precise—might be coming from the Pershing Square Foundation, founded by Pershing Square Capital Management CEO Bill Ackman and his wife Karen, but the spirit is coming from Sohn.

Link to full article.