Philanthropy

We are talking social entrepreneurship here. Let’s talk today and understand what philanthropy is. Now a day many corporate are going to have their own philanthropy and foundations. Let’s understand philanthropy.

 

Philanthropy is the act of donating money, goods, services, time or effort (often referred to as time, talent or treasure) to support a charitable cause, usually over an extended period of time and with a defined objective. 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.

 

During the past few years, philanthropy has become more mainstream, owing in part to the high profile of rock star 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.