Doug and Penny Yarrow have lived in Westlake Village, Calif., for 38 years.
Now they're the recipients of the Association of Fundraising Professionals, Santa Barbara/Ventura Counties Chapter's 2018 Philanthropist of the Year award.
The Yarrows have given millions to causes including the American Heart Association, the New West Symphony, the Grand Teton Music Festival, and their alma mater, the University of Southern California, reports the Los Angeles Times.
The AFPSBV chapter says the award is given to "individuals who have contributed significantly to enriching our world through volunteering and service."
The Yarrows are also the 2018 Ventura County Philanthropist of the Year and the AFPSBV chapter's Santa Barbara County Professional Fundraiser of the Year.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.