Philanthropy
What is Philanthropy?
Leaving your mark on the world through charitable engagement
Philanthropy involves charitable giving to worthy causes on a large scale. Philanthropy must be more than just a charitable donation. It is an effort an individual or organization undertakes based on an altruistic desire to improve human welfare. Wealthy individuals sometimes establish private foundations to facilitate their philanthropic efforts of you.
Nonprofits are organizations set up to support a variety of social causes, such as educational, health, scientific, public safety, and human rights.
KEY TAKEAWAYS
- Philanthropy refers to charitable acts or other good works that help others or society as a whole.
- Philanthropy can include donating money to a worthy cause or volunteering time, effort, or other forms of altruism.
- The Greek philosopher Plato was a philanthropist, leaving funds in his will to help maintain the academy he had founded.
- Andrew Carnegie is one of America’s most famous philanthropists, noted for the large scale of his charitable contributions, which included the building of more than 2,500 libraries worldwide.
- In modern times, philanthropy is often undertaken by those seeking tax breaks, in addition to feeling good and helping others.
What is a philanthropist?
A philanthropist is a person who donates time, money, experience, skills or talent to help create a better world. Anyone can be a philanthropist, regardless of status or net worth.