Peter Morgan’s appreciation for Benjamin Franklin’s desire to promote civic virtue through the power of compounding interest is why we’re here. Ben Franklin believed that by investing in carefully constructed partnerships, even the smallest sums of money would grow, providing the foundation for the promotion of social philanthropy.
He understood that providing citizens with stipulated financial support, no matter its size, would, in turn, encourage civic responsibility. This is expressly stated in the Codicil to his Will, in which Franklin bequeathed 1,000 pounds sterling to the citizens of his native city of Boston and his adopted city of Philadelphia. He had carefully calculated how those funds would grow over a 200-year period and directed that the proceeds be used solely for philanthropic and civic improvements.
With Franklin’s idea in mind, Peter asked the question, “Could my for-profit business, Morgan Legacy Partners, create a similar funding model to support the work of our non-profit, the Morgan Franklin Fellowship for 200 years?”
This sentiment inspired Peter’s philosophy that providing youth with a solid framework of financial literacy, in which is embedded the theme of community responsibility, encourages not only their own personal success but their commitment to better their own rising generation.
This is the bedrock of the Morgan Franklin Fellowship.