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Philanthropy Definition Glossary of Business Terms - Philanthropy

Philanthropy : Although Philanthropy can mean a general adoration for humankind, the term usually refers to the act of generosity associated with giving money, time, or effort to a charitable cause or institution under the intention of improving the well-being of humanity.
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In general, philanthropy usually refers to organized donations by wealthy individuals or organizations to other charitable foundations or events, but can be used to describe any private action performed for public good. Anyone can be a philanthropist provided their actions or money are used for the good of society.

Most philanthropic gestures occur over a longer period of time and are usually targeted to a specific purpose or in pursuit of a defined goal. For example, many organizations have promised specific amounts of money to organizations in Africa in order to fight the AIDS epidemic. Other large institutions, such as the Gates Foundation, have donated money to a variety of programs and organizations around the world in pursuit of furthering educational opportunities for everyone.

Many artistic, religious, musical and humanitarian institutions depend upon philanthropic gestures to continue operations.

Also called : Volunteer or One who practices Philanthropy.
More Philanthropy Information : Billionaires, Philanthropy News and Philanthropists

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