What the true philanthropy meaning actually is
The spectrum of philanthropy is extensive; continue reading for more details
As a sector, there are many different types of philanthropy sectors. One of the largest website and fastest-growing philanthropy sectors is called corporate philanthropy. So, what is corporate philanthropy? To put it simply, corporate philanthropy is when businesses proactively support humanitarian causes. Instead of just focusing on turning a profit, these companies are also dedicated to making a good difference in the world. Within this industry, there are actually several types of corporate philanthropy which companies have gotten involved in, as people like Li Ka-shing would confirm. As an example, some companies donate a percent of their yearly assets to humanitarian causes. Other businesses could launch employee-volunteering schemes, which is where their staff members are urged to spend a work-day volunteering. Another kind of corporate philanthropy is impact investing, which is where hedge funds or private equity firms will purposely make investments in charities and other philanthropic organizations.
Within the philanthropy industry, there are several types of philanthropic giving out there. The most prominent type of philanthropic contribution is money. Simply put, donating cash to specific philanthropic causes and organizations. As opposed to popular belief, you do not need to have a lot of cash, status or influence in order to be considered a philanthropist. Even a small monetary donation can go a very long way in helping these causes. Additionally, it is very important to keep in mind that you do not even need to contribute any type of money whatsoever. As a matter of fact, you can become a philanthropist through donating your time. This is due to the fact that one of the absolute most beneficial, important and rewarding types of philanthropy work is volunteering. Many philanthropic foundations actually count on the work of volunteers, as they need compassionate individuals to actually distribute their services to individuals in need. For instance, some volunteers offer to serve food at homeless shelters, socialise with elderly people at retirement homes or clean up rubbish from local parks. Other volunteers might fly across the globe to remote, underdeveloped countries to help construct important infrastructure, like homes, clinics and schools and so on. Regardless of what sort of volunteering you do, it is certain to be an eye-opening, inspiring and rewarding life experience, as people like Strive Masiyiwa would definitely agree.
Prior to diving right into the ins and outs of philanthropy, it is firstly important to understand what is really is. One of the most common misunderstandings is for people to use the terms 'philanthropy' and 'charity' mutually, although they are not the same thing. Whilst the two concepts overlap with each other, the main difference between philanthropy and charity is its scope. For instance, charity is frequently referring to immediate yet short term alleviation for causes, like offerings to areas who have recently experienced a natural disaster. In comparison, philanthropic foundations deal with wide-spread problems on a much deeper level and bigger scale. The focus on dissecting and researching the issue, identifying possible answers and minimizing its impact for future generations. If you are interested in learning how to become a philanthropist, the top piece of guidance is to support a cause which you feel passionate about, as individuals like Bulat Utemuratov would understand. A real philanthropist is a person who really cares and is dedicated to the cause, which is why it is so important to do your research and find a foundation which aligns with your very own interests and passions. In addition, it is very common for philanthropists to target their resources, time and money towards causes which have directly impacted them in their personal lives. It could be a foundation which researches treatments for specific medical problems, or an organisation which focuses on offering accessible education to all children throughout the world etc.