The final report of a four-year initiative, supported by the David and Lucile Packard Foundation and the W.K. Kellogg Foundation, shows how long-term trends (privatization, connectivity, acceleration, etc.) are combining to create a new reality for philanthropy. Anyone who wants to give has more choices than ever. The authors believe that if donors understand how philanthropy is evolving, they will make better decisions in support of the issues, institutions, and communities they care about. The authors explain the new context for philanthropy, which they call "the new ecology of social benefit." Then they offer examples how philanthropists (individual and institutional) are responding in imaginative ways. The new context and the emerging responses combine to create the future of philanthropy, which the authors illustrate by stories and scenarios of the year 2025, such as the development of mutualist societies, the decline of foundations, joint venture philanthropy, or googling giving.