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Why is philanthropy important?

The disruptive force of the "new philanthropy" holds the promise of helping to reduce inequality. But will it actually do so?

  • In Why Philanthropy Matters: How the Wealthy Give, and What It Will Mean for Our Economic Well-Being, Zoltan J. Acs argues that philanthropy will be the salvation of capitalism as, as new philanthropists put their money behind innovative ideas, they open a space for new talent to rise.
  • Acs claims that philanthropy by its nature reduces inequality and promotes social mobility through social disruption.
  • Philanthropy by its nature reduces inequality and promotes social mobility through social disruption. Through philanthropy, the unequal distribution of wealth can be channeled into creating opportunity for future generations through creating knowledge today.

Read the book review in Stanford Social Innovation Review

Source Details: https://ssir.org

Tags: philanthropy Importance of Philanthropy

To increase the impact of philanthropy, we have to address its geographical, attitudinal, ethical and policy dimensions.

  • A new research report from the Centre for Giving and Philanthropy (CGAP) concludes that to increase the impact of philanthropy in our troubled times, we have to address its geographical, attitudinal, ethical and policy dimensions.
  • There is much more we could do to ensure that our philanthropy goes to the heart of social justice and need. We need to build new social norms around the importance of philanthropy. 
  • The traditional donor-recipient models should be broken down through building virtual communities which openly share ideas and expertise around their problems, and co-produce knowledge.Where markets fail, philanthropy needs to go beyond mere charitable hand-outs to mobilise the skills and expertise of successful entrepreneurs behind struggling communities.
  • As government grant support declines this transition is vital but risky

Read more in The Guardian

Source Details: www.theguardian.com, Monday 23 July 2012, w

 

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Tags: philanthropy Importance of Philanthropy

In this article, Greg Mercer explains his belief that successful businesses have a duty to give something back to society. 

  • Charitable acts of kindness spread very quickly – a simple act of caring creates an endless ripple effect.
  • Every business will have a variety of ways to develop a charitable mission. Whether you are trying to raise money for a good cause, do something positive for the environment or support local communities, no act of kindness is too small.
  • All things considered, being in the position to give back is very fortunate. So if you are looking to build some charitable projects into your business, hats off to you. You won’t regret it.

Read the article in Huffington Post

Source Details: http://www.huffingtonpost.com,Jul 11, 2017, Author: Greg Mercer.

Tags: philanthropy Importance of Philanthropy

In the aftermath of the devastating Philippines typhoon, many Canadians questioned whether they could really make a difference in the world by supporting a charity.

This is article in the Vancouver Sun reflects on why philanthropy matters in today’s society.

  • We know that people feel good when they help other people. It doesn’t matter whether they give money, time, or advice — it’s the giving that counts. 
  • The new generation of young donors is far more optimistic about the future than their “baby boom” counterparts. They are also more generous with their time and money, and more likely to sit on boards and committees than previous generations.
  • Numerous examples exist of collaborative fundraising ventures, where charities combine resources to raise money efficiently, align program work to find efficiencies, and reduce duplication.
  • There are many ways to give back, whether it’s a gift of time, money or expertise; and, most importantly, all donations, large and small, matter.

Read the article in the Vancouver Sun

Source Details: http://www.vancouversun.com, Kevin McCort, Special to the Vancouver Sun.(20.12.2013)

Tags: philanthropy Importance of Philanthropy

Thought Economics discusses the fundamental nature of charity and philanthropy with the directors and CEO's of some of the foremost Philanthropic organisations - looking at why these phenomena exist together with their role and impact on society. They also discuss their individual journeys in philanthropy, and how their organisations are aiming to tackle some of society’s greatest problems.

  • At every stage of our species’ development, ‘giving’ has been with us. Whether one sees this phenomena as evolutionary (manifest from pro-social behaviour) or spiritual (an urge from deep within our souls), the fact remains that giving- in all its forms- has been one of the greatest factors in the success of humanity and spans all the domains of ‘human’ assets.
  • In reality, there are few (if any) beings on our planet who have not been touched in some way by giving and few (if any) who could argue-away the profound legacies left by the outcomes of man’s urge to improve the present and future position of his society.
  • Without some form of giving, many of mankind’s greatest achievements simply would not have occurred
  • Giving is also one of the few activities mankind often undertakes without the geographic, cultural, social and political prejudices applied to other aspects of life.

Read the article and interviews in Thought Economics 

Source Details: https://thoughteconomics.com, Article & interviews by: Vikas shah (17th January 2016)

Tags: philanthropy Importance of Philanthropy

"At the WINGS Forum in Mexico in February 2017, a session was organised to discuss the initial findings of a new study of philanthropy initiated by the Working Group on Philanthropy for Social Justice and Peace. The purpose of the study is to understand the role of philanthropy in today’s world, particularly countries where philanthropy is culturally rooted (but not well documented) and often less institutionalised, mainly in emerging market countries, as this is where the study can start to fill a real gap."

 

  • The most significant observation in the study is the rise of giving, particularly small and individual giving, in emerging market economies. 
  • Similarly, the session acknowledged the importance of local languages in understanding giving at an ethnographical level. 
  • Besides the challenges in procuring funding, social change is happening.

Read the article in Alliance Magazine

Source Details: http://www.alliancemagazine.org, By: Chandrika Sahai, 31.03.2017

 

Tags: philanthropy Importance of Philanthropy

Philanthropy is a critical part of a democratic society. It is different than charity, which focuses on eliminating the suffering caused by social problems, while philanthropy focuses on the elimination of social problems. It supports projects and endeavors from which we all benefit, such as libraries, museums and scientific research; and it also supports efforts that may be too unpopular or controversial to gain the widespread support of the general public or the government.

 

  • Philanthropy is important because it provides opportunities. Philanthropy supports projects and endeavors that may be too unpopular or controversial to gain the widespread support of the general public or the government. For this reason, philanthropy is a very important part of a democratic society. 
  • Philanthropists do not answer to the government or to the public, so are able to freely choose the people and projects to receive their support.
  • We directly benefit from philanthropy by the use of libraries, schools, hospitals, performing arts centers and museums supported by the generosity of philanthropists. 
  • Philanthropy may also support scientific research, scholarships, civil rights endeavors, social services and other things beneficial to society.

Read more on learningtogive.org

Source Details: https://www.learningtogive.org Catherine Zimmer

 

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Southern Africa Trust (the Trust) recently announced that they have partnered with Wits Business School to establish a Chair in African Philanthropy.

BizNis Africa interviewed McBride Nkhalamba, Executive Manager and Head of the Policy and Programme Unit at the Southern Africa Trust, about this development .

  • From studying global patterns, it is found that there has been an increase in remittance and investment coming from the diaspora into the African continent, classified as nothing more than simple remittances.
  • What is also apparent is that within the continent itself, African people have given either collectively or as individuals (not exactly in huge amounts, but significant amounts) to the social development of their communities and sometimes even countries.
  • It is also critical to look at African Philanthropy as any effort that is undertaken by African citizens to support materially, financially or in time, the development of their own communities and countries. That is the paradigm that we are working with when we speak of African Philanthropy.

Read the interview on NGO Pulse

More information on The Southern Africa Trust:  http://www.southernafricatrust.org

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