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Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". [1] Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain; and with government endeavors that are public initiatives for public good, such as those that focus on the provision of public services. [1]
Philanthropy in the United States is the practice of voluntary, charitable giving by individuals, corporations and foundations to benefit important social needs. Its long history dates back to the early colonial period, when Puritans founded Harvard College and other institutions.
Over time, the meaning of charity has evolved from "Christian love" to "providing for those in need; generosity and giving" (cf. offertory), [4] [1] a transition that began with the Old French word charité. [3]
A charitable organization [1] or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the ...
The Gates Foundation [a] is an American private foundation founded by Bill Gates and Melinda French Gates.Based in Seattle, Washington, it was launched in 2000 and is reported to be the third largest charitable foundation in the world, [6] [7] holding $69 billion in assets as of 2020. [4]
Giving circles emerged as an innovation in philanthropy in the early 1990s [13]: 7 [14]: 8 and the number of groups has increased since the early 2000s. [15] [4] According to the Forum of Regional Associations of Grantmakers, the number of giving circles in the United States doubled between 2004 and 2006 to approximately 400.
Open Philanthropy is a research and grantmaking foundation that makes grants based on the principles of effective altruism. It was founded as a partnership between GiveWell and Good Ventures . Its current chief executive officer is Alexander Berger, and its main funders are Cari Tuna and Dustin Moskovitz .
George Peabody (/ ˈ p iː b ɒ d i /; February 18, 1795 – November 4, 1869) was an American financier and philanthropist. He is often considered the father of modern philanthropy.