Perpetual Social Capital
A mathematical framework for charitable capital that cycles back to help again and again. PSC enables multi-cycle deployment with zero liability—creating 10–30× more impact than terminal grants.
This flagship research program develops the formal mathematics, behavioral economics, and governance protocols for regenerative capital in philanthropy.
The Core Concept
Perpetual Social Capital (PSC) is a fourth capital class alongside debt, equity, and grants. It enables principal-preserving, multi-cycle deployment of philanthropic capital with:
- Soft repayment: Voluntary pay-it-forward when beneficiaries succeed
- Zero liability: No debt obligations, interest, or collection mechanisms
- Perpetual recycling: Capital returns to help the next beneficiary, infinitely
- Dignity preservation: Recipients treated as partners, not debtors
Multi-Cycle Deployment
Capital deploys → creates value → returns → deploys again. Unlike grants (terminal) or debt (extractive), PSC enables infinite cycles of productive deployment.
Zero-Liability Structure
Beneficiaries face no debt obligations. Pay-it-forward is voluntary, timing-flexible, and dignity-preserving. No interest, no collection, no default.
System Value Multiplier
SVM measures total value created per dollar. At R=0.8 (80% recycling), $100K creates $500K in system value over 30 years. At R=0.9, it's $1M.
The Mathematics
PSC's power lies in its compounding effect over time. The Recycling Rate (R) determines how much capital returns each cycle:
The System Value Multiplier (SVM) measures total value created:
For comparison: Traditional grants have SVM ≈ 1.7×, debt-based models achieve ≈ 19×.
Active Research Areas
The PSC research program spans theoretical foundations, empirical analysis, and practical implementation.
Mathematical Foundations
- Recycling rate (R) optimization
- System Value Multiplier (SVM) calculations
- 30-year simulation models
- Infinite-horizon IRR analysis
Behavioral Economics
- Voluntary pay-it-forward dynamics
- Donor psychology transformation
- Institutional reciprocity patterns
- Cultural transmission mechanisms
Sector Applications
- Healthcare capital deployment
- Education funding models
- Small business development
- Climate adaptation finance
Governance & Protocol
- Soft enforcement mechanisms
- Capital ledger architecture
- Institutional coordination
- Transparency & accountability
Published Papers
The Perpetual Social Capital Framework
Roshan Ghadamian • November 2025
Foundational paper introducing PSC as a fourth capital class. Includes formal mathematics, 30-year simulations, behavioral analysis, and comparative frameworks.
Explore PSC Further
Use our interactive tools to model PSC scenarios, or read our comprehensive explainer to understand the framework in depth.
See PSC in Practice
Elevate Gift applies IRSA's PSC research in real-world contexts, making regenerative capital accessible to individuals, businesses, and institutions.
Visit Elevate