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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.
Philanthropinism (also philanthropism) is an educational reform movement that was established in the second half of the eighteenth century, rooted in the principles of philanthropy. The name, similar to its rooted origin, is derived from the Greek words for friend and human (φίλος and άνθρωπος respectively).
The term foundation is not commonly used in England and Wales. Occasionally, a charity will use the word as part of its name (e.g., British Heart Foundation), but this has no legal significance and provides no information about the charity's work or legal structure. The organization's structure will fall into one of the types described above.
Charity is also the usual English form of the name of Saint Charity, an early Christian child martyr, who was tortured to death with her sisters Faith and Hope. She is known as Agape in Biblical Greek and as Caritas in Church Latin and her name is translated differently in other languages.
The name stems from the most obvious expression of the virtue of charity: providing recipients with the means they need to survive. The impoverished, particularly widows, orphans, the ailing, and the injured, are generally considered appropriate recipients of charity.
A foundation may hold assets in its own name for the purposes set out in its constitutive documents, and its administration and operation are carried out in accordance with its statutes or articles of association rather than fiduciary principles. The foundation has a distinct patrimony independent of its founder.
His surname derived from the name of the Alsatian village of Gougenheim. [3] He married Barbara Meyer, whom he met in the United States. Over the next few decades, their 11 children and their descendants became known for global successes in mining and smelting businesses, under the name Guggenheim Exploration, including the American Smelting ...