Philanthropy | The selfless desire to improve human welfare, usually through donations to worthwhile causes
A philanthropist is a person who creates a better world by giving their time, money, skills, experience or talent
It doesn’t matter how wealthy you are or how much you can give. Anyone who tries to help others in some way can be considered a philanthropist.
Importance of philanthropy
Accelerates growth in areas where governments can’t always fill investment and development requirements
Development in areas that need it, such as people’s lives, the climate and healthcare
Guiding Principles of Philanthropy
1.
Equality and justice
Philanthropic actions should focus on equality and justice
This creates an end goal allowing for as much meaningful impact as possible in all areas considered
2.
Usefulness and change
Do something that the government can’t
Help in areas that the government isn’t necessarily considering
What will make things change?
Change is the aim of philanthropy so by concentrating on projects that cause change, philanthropy is most effective
3.
Listen
Listen to members of the local communities that are being affected and get them involved to create change
This allows solutions to problems to be found much quicker
Philanthropist Organisations
The most famous are often set up by billionaires and celebrities, such as
Bill and Melinda Gates Foundation
Obama Foundation
However, there are hundreds of others too…
Cancer Research
National Trust
Age UK
And of course, The Ten Percent Foundation
All these foundations do their bit to raise money and spend it in the most effective way possible, whether its by…
Supporting charities
Researching Illnesses
Helping the elderly
Protecting nature and combating climate change
It doesn’t matter how large they are; any action that an organisation takes to help others can be considered philanthropic, no matter how big the donation is
There are no joining criteria for an organisation to be considered philanthropic; if an organisation gives money or resources to a charity or someone who needs them, then it can call itself philanthropic.
However, to give effectively and keep giving, there are 5 things that an organisation should consider.
All team members should be included with the donation process
Transparency with the donation
Empowering team members and shareholders to be philanthropic
Donations that make the most impact
Effective collaborations
.
Philanthropies deep roots
Philosophy
Aristotle believed in giving the right people an appropriate amount based on your resources. He emphasized making educated decisions about where resources should go and avoiding “bad-intended” giving. Other philosophers believe in living within one’s means and only keeping what’s necessary, while utilitarianism emphasizes working to enhance everyone’s happiness. Despite the varying viewpoints, all definitions of philanthropy share the same basic principle: giving to those in need.
Religion
In Christianity, many believe that giving to charity is giving to their own kin, as everyone is a child of god. In Islam, Muslims are required to give a portion of their wealth to those in need as part of Zakat. In Hinduism, Buddhism and Sikhism, the practice of Dāna means to give to those who are in need. As can be seen, due to the encouragement of giving in religion, people who are members of a religion are more likely to give than those who aren’t.
Overall, there are many guides available on how to be a philanthropist and how to give both as a business and as an individual . Many focus on the importance of choosing the right charities to achieve the most impact possible.
These charities can be selected based on the areas they support, their transparency, how much their staff is earning, and what impact they are having on their wider community.
The Ten Percent Foundation carefully selects the charities it supports, enabling it to have a greater impact than randomly choosing from a Google search.
