The yourDictionary Web site defines philanthropy as “a desire to help mankind, esp. as shown by gifts to charitable or humanitarian institutions; benevolence.” Philanthropy may be motivated by religious beliefs, a sense of civic duty, or simple compassion for those in need.
Without the work of philanthropists, many of the things we take for granted would not exist. Philanthropy is a substantial source of funding for groups devoted to humanitarian, artistic, musical, or religious causes. These causes, although they have definite value to society as whole, are simply not considered a priority when the government distributes public funds.
In the business community, philanthropy is often viewed as an important way for successful individuals to give back to those who indirectly helped them amass their fortunes. For example, Bill Gates, cofounder of Microsoft, is rapidly becoming known throughout the world for his commitment to philanthropy. The Bill and Melinda Gates Foundation gave $1,158,280,084 to various causes in 2002 alone, supporting efforts to enhance global health and improve the quality of education for children around the world. In 2006, noted investor Warren Buffett stunned the world by contributing $31 billion of his own personal fortune to The Bill and Melinda Gates Foundation. Buffett stated that he felt the Gateses' own philanthropy was a close match to his personal priorities and he hoped his gift would make it easier for them to accomplish their goals.
Of course, philanthropy isn’t limited to the rich and famous. There are many ways you can help others even if you’re operating on a tight budget yourself. Donating canned goods to a food bank to help needy families in your community is a simple philanthropic act with direct benefits. The Toys for Tots fundraiser, an effort to provide Christmas presents to needy children, is another great example of a philanthropic cause that is supported by everyday Americans.
If you’re interested in learning more about philanthropy, yourDictionary recommends the following helpful resources:
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