Do You Know What Philanthropy Is?
By MIKE SELVON
The term philanthropy is more closely related to a concept than an actual verbatim definition. The term came to us courtesy of the Greeks and means “love for mankind.” This concept is about voluntarily giving, either by a group or an individual that will help support and promote some type of a united common good. This may also include monetary grants and contributions given by foundations, individuals and often corporations, to not-for-profit organizations that work towards a common cause to improve the quality of life for those in need.
As shown in history as a chronicle of philanthropy, it is not a new concept. Surprisingly, it was around in the ancient cultures of Greece, Rome and the Middle East. As a matter of fact, contributions were made to Plato’s Academy and the Christian church in medieval times; they set up trusts to be used with benevolence. Beginning in the late nineteenth century, private foundations donated gifts totaling billions in support of education, the arts, medical research and many other causes.
Some people ask what is the best way to do good or show how thankful they are and others will just automatically write out a check for some non profit organization and call it philanthropy. Naturally, monetary donations are great, but one woman has reminded us that there are other ways, every bit as important. She tells a story of seeing a young boy digging in a dumpster for food.
She took him inside, made him a peanut butter and jelly sandwich and sent him home. A short while later several more kids showed up at her door and everyone got a sandwich. Fortunately, her local community noticed and began to pitch in as well; showing that it only takes one person to make a real difference.
You may be surprised to learn that lower and middle-income donors are much more likely to make charitable donations to charities that benefit the poor than are upper-income households. One study examined giving trends among different income groups.
There have been numerous studies done that break down the figures of donating through philanthropy. Studies showed that 8% of the total giving was donated to charities that meet basic needs, such as food and shelter. Roughly 38% of all giving was done by people with incomes less than $70,000 and 23% went to the poor via non profit organizations and 31% of all donations went directly to serving the needs of the poor.
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