"Philanthropy is far more than just writing checks. It takes an entrepreneurial approach that seeks out best practices and empowers people to change the world."

Michael Milken, Chairman, Milken Institute

What happens when you mix next-generation energy and ingenuity with philanthropic capital? The answer is you get innovations that bring a business senseand greater impactto charitable giving.

Limited life proponents argue that spending down leads to greater impact; spending more money in a shorter period could be an effective way to solve urgent problems sooner.

The global burden of IBD is immense. Patients with the disease face a lifetime of symptoms, resulting in increased medical costs and lost productivity. Strategic philanthropic investment can help.

Melissa Stevens sits down with CNBC's Robert Frank to talk about the newest efforts to help individuals build high-impact philanthropy portfolios.