(Stock image/Marc Brown) The Center for Accelerating Medical Solutions is committed to saving lives by saving time in the research, discovery and development of new treatments for deadly and debilitating diseases.
Service Helps Philanthropists Make Informed Investment
MAY 06, 2009Robert Wood Johnson Foundation FasterCures today announced the launch of the Philanthropy Advisory Service (PAS), an online information marketplace that aims to improve global access to medical solutions by increasing the flow of philanthropic support to nonprofit disease research organizations. PAS was created to help philanthropists make informed investment decisions and have in place a mechanism to assess the return on their philanthropy. PAS data and analysis are based on a focused set of criteria: how well—and how effectively—a nonprofit research organization is being run and how it is contributing to the advancement of research.“When you invest your money, you look for the best return on investment. When you donate it, it is just as crucial to look for the best return on your philanthropy,” said Greg Simon, president of FasterCures. “Until PAS was developed, there were hardly any resources available to philanthropists to guide their support of nonprofit medical research, and virtually no tools accessible to measure its impact.”The PAS launched today includes information on Alzheimer’s disease and multiple sclerosis and the organizations involved in researching cures for these diseases. This is the first of a planned series of reports. It will feature accurate and current scientific data and unbiased organizational analysis, all of which are validated by teams of scientific and organizational experts.“Philanthropic research funding plays a key role in advancing innovative and high-risk research with high-return potential,” said Mike Milken, chairman of FasterCures. “This first-ever philanthropy information marketplace for biomedical research will contribute to efficient and productive philanthropy.”PAS is available to registered Premier Users, free of charge, for a year. PAS allows philanthropists to direct their philanthropy to organizations whose medical research goals match their own and identify where their money can make a critical difference in finding new cures.PAS was developed by FasterCures and supported by grants from the Pioneer Portfolio of the Robert Wood Johnson Foundation and the Bill & Melinda Gates Foundation.About FasterCures
FasterCures/The Center for Accelerating Medical Solutions is committed to saving lives by saving time in the research, discovery and development of new treatments for deadly and debilitating diseases. FasterCures, as a center of the Milken Institute, is nonpartisan, nonprofit and independent of interest groups.