Philanthropist

From Wikipedia, the free encyclopedia Philanthropy Philanthropy Philanthropy derives from Ancient Greek, meaning "to love people". Philanthropy is the act of donating money, goods, services, time and/or effort to support a socially beneficial cause, with a defined objective and with no financial or material reward to the donor. In a more general sense, philanthropy may encompass any altruistic activity intended to promote good or improve human quality of life. One who practices philanthropy may be called a philanthropist. Although such individuals are often rich, people may perform philanthropic acts without possessing great wealth. Philanthropy is a major source of income for fine arts and performing arts, religious, and humanitarian causes, as well as educational institutions (see patronage). During the past few years, some high profile examples of philanthropy include Irish rock singer Bono’s campaign to cancel Third World debt to developed nations; the Gates Foundation’s massive resources and ambitions, such as its campaigns to eradicate malaria and river blindness; and billionaire investor and Berkshire Hathaway Chairman Warren Buffett’s donation in 2006 of $31 billion to the Gates Foundation.[1] Philanthropy is facilitated by development professionals and fundraisers. Donor relations and stewardship [2] professionals support the development profession by recognizing and thanking donors in a fashion that will cultivate future giving to nonprofit organizations. The Association of Donor Relations Professionals (ADRP) [3] is the first community of stewardship and donor relations professionals in the United States and Canada. Friedrich Nietzsche opposed philanthropy on philosophical grounds Responding to future needs, however, draws on the donor’s foresight and wisdom, but seldom recognizes the donor.[4] Prevention of future needs will often avert far more hardship than a response after the fact.[4] For example, the charities responding to starvation from overpopulation in Africa are afforded swift recognition.[5] Meanwhile, philanthropists behind the U.S. population control movement of the 1960s and 1970s were never recognized, and are lost to history.[4] Views Philosophy The purpose of philanthropy is also debated. Some equate philanthropy with benevolence and charity for the poor.Others hold that philanthropy can be any altruistic act that fulfills a social need that is not served, is underserved, or is perceived as unserved or underserved by the market. Some believe that philanthropy can be a means to build community by growing community funds and giving vehicles. When communities see themselves as being resource rich instead of asset poor, the community is in a better position to solve community problems. Philanthropy responds to either the present or the future needs.[4] The charitable response to an impending disaster is an action of philanthropy.[4] It offers immediate honor for the philanthropist, yet requires no foresight. Politics Philanthropists are often popular and become known to the public as "good" or even "great." Some governments are suspicious of philanthropic activities as possible grabs for favor, but still allow special interest groups to form non-governmental organizations. Uses of the word Conventional usage By the conventional definition of philanthropy, donations are dedicated to a narrowly defined cause and the donation is targeted to effect a recognizable change in social conditions. This often necessitates large donations and financial support sustained over time. 1 From Wikipedia, the free encyclopedia The need for a large financial commitment creates a distinction between philanthropy and charitable giving, which typically plays a supporting role in a charitable organization initiated by someone else. Thus, the conventional usage of philanthropy applies mainly to wealthy persons, and sometimes to a trust created by a wealthy person with a particular cause or objective targeted. Many non-wealthy persons have dedicated – thus, donated – substantial portions of their time, effort and wealth to charitable causes. These people are not typically described as philanthropists because individual effort alone is seldom recognized as instigating significant change. These people are thought of as charitable workers but some people wish to recognize these people as philanthropists in honor of their efforts. A growing trend in philanthropy is the development of giving circles, whereby individual donors -- often a group of friends -- pool their charitable donations and decide together how to use the money to benefit the causes they care about most. The re-emergence of philanthropy in recent years, led by Bill Gates and Warren Buffett, which involves applying the techniques of business to philanthropy has been termed philanthrocapitalism.’[6] Philanthropy References [1] [2] [3] [4] [5] [6] [7] Largest individual bequests • $37 billion from Warren Buffett to the Bill and Melinda Gates Foundation. • $424 million from managers of the Readers Digest fortune to the Metropolitan Museum of Art[7] • $200 million from Joan B. Kroc to National Public Radio in 2003[7] • $100 million from Henry and Betty Rowan to Glassboro State College[8] [8] See also • • • • • • • • • • • Altruism Association of Donor Relations Professionals Charitable organization Charitable contributions (tax aspects) Charity (practice) Foundation (nonprofit organization) Giving Circles Microgiving Non-profit organization Venture philanthropy Volunteerism • Volunteer • Youth philanthropy "Gates: Buffett gift may help cure worst diseases". MSNBC. 2006-06-26. http://www.msnbc.msn.com/ id/13541144/. Retrieved on 2008-05-20. "Stewardship & Donor Relations," Entrepreneur.com Association of Donor Relations Professionals ^ Rohe, John F. (2002-01-01). "Chapter 6: Prophesy and Charity". Mary Lou and John Tanton: A Journey into American Conservation. FAIR Horizon Press. ISBN 978-0971007901. "Buzz (news and commentary blog)". onPhilanthrophy. http://flip.onphilanthropy.com/ news_onphilanthropy/africa/. http://www.economist.com/surveys/ displaystory.cfm?story_id=5517656 ^ "Billions and Billions Served, Hundreds of Millions Donated". New York Times. November 7, 2003. http://query.nytimes.com/gst/ fullpage.html?res=9E04EFD81439F934A35752C1A9659C8B63& Retrieved on 2008-07-28. "National Public Radio announced yesterday that it had received a bequest worth at least $200 million from the widow of the longtime chairman of the McDonald’s restaurant chain. ... Few cultural institutions have been the beneficiaries of gifts as large as that received by NPR, according to The Chronicle of Philanthropy. One of the largest, worth $424 million, was given to the Metropolitan Museum of Art by foundations built on the Reader’s Digest fortune." Gurney, Kaitlin. "10 years later, Rowan still reaps gift’s rewards - Rowan Milestones", The Philadelphia Inquirer, July 9, 2002. Accessed August 1, 2007. "Rowan University catapulted onto the national stage a decade ago when industrialist Henry Rowan gave sleepy Glassboro State College $100 million, the largest single sum ever donated to a public institution.... Rowan and his late wife, Betty, gave the money on July 6, 1992, with just one requirement: that a first-rate engineering school be built. In gratitude, Glassboro State changed its name to Rowan College." External links • Joseph and Matthew Payton Philanthropic Studies Library • Philanthropic Studies Index • History of Philanthropy, 1601-present compiled and edited by National Philanthropic Trust • A Bourgeois Duty: Philanthropy, 1896-1919 — Illustrated historical essay • The Index of Global Philanthropy 2006 83 page PDF file from the Hudson Institute • Association of Donor Relations Professionals Lists • List of wealthiest foundations • List of philanthropists 2 From Wikipedia, the free encyclopedia • PRO: Philanthropy Resources Online Philanthropy Retrieved from "http://en.wikipedia.org/wiki/Philanthropy" Categories: Philanthropy, Social ethics, Social philosophy, Politology This page was last modified on 20 May 2009, at 08:41 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) tax-deductible nonprofit charity. Privacy policy About Wikipedia Disclaimers 3