Philanthropy

AAA

DEFINITION of 'Philanthropy'

Charitable giving to human causes on a large scale. Philanthropy must be more than just a charitable donation; it is an effort undertaken by an individual or organization based on an altruistic desire to improve human welfare. Wealthy individuals sometimes establish foundations to facilitate their philanthropic efforts

INVESTOPEDIA EXPLAINS 'Philanthropy'

Billionaire Microsoft mogul Bill Gates, along with his wife, Melinda, established the Bill and Melinda Gates Foundation to support global development and global health programs. Another example is the Ford Foundation, established by the son of Ford Motor Company founder Henry Ford. The foundation focuses on strengthening democracy, improving economic opportunity and advancing education.

RELATED TERMS
  1. Corporate Sponsorship

    A form marketing in which a corporation pays for all of some ...
  2. Bill And Melinda Gates

    Two out of the three co-chairs of the Bill and Melinda Gates ...
  3. Private Foundation

    A charitable organization that, while serving a good cause, does ...
  4. Nonprofit Organization

    A business entity that is granted tax-exempt status by the Internal ...
  5. Charitable Donation

    A gift made by an individual or an organization to a nonprofit ...
  6. Wealth Management

    A high-level professional service that combines financial/investment ...
RELATED FAQS
  1. What kind of philanthropy did Nathan Rothschild do?

    Nathan Rothschild contributed to many areas of philanthropy in the Jewish community. His family later expanded these charitable ... Read Full Answer >>
  2. How does a revocable trust become a split-interest trust?

    A revocable trust is set up during the lifetime of the grantor who begins the trust. The grantor has the right to modify ... Read Full Answer >>
  3. In which countries do high-income earners pay the most tax?

    It is difficult to identify those countries with the highest tax burdens on high net worth individuals. The most commonly ... Read Full Answer >>
  4. In which US cities do high-income earners pay the most tax?

    There are several different ways that cities tax high-net-worth (HNWIs) individuals. The most direct and obvious method is ... Read Full Answer >>
  5. Which states are the most expensive for high-income earners?

    The most expensive states for high-income earners are California, Hawaii and New York. The tax rates assessed by these states ... Read Full Answer >>
  6. What are the risks involved in a banker's acceptance?

    College savings accounts are excellent ways to encourage saving for future college costs. Contact your investment professional ... Read Full Answer >>
Related Articles
  1. Investing Basics

    The Christmas Saints Of Wall Street

    Learn how some of world's richest people spread holiday cheer year-round.
  2. Entrepreneurship

    The Giants Of Finance: Andrew Carnegie

    Though not as well-remembered as some of his contemporaries, Andrew Carnegie's legacy is strong and moralistic.
  3. Retirement

    Skipping-Out on Probate Costs

    Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.
  4. Entrepreneurship

    10 Richest, Most Successful Tech Geniuses

    Unlike many industries, tech billionaires are mostly self-made. Many of these billionaires came from humble means and, through their own genius, changed the world.
  5. Taxes

    What's a Tax Shield?

    A tax shield is a deduction, credit or other means used to reduce the amount of taxes an individual or business owes to the government.
  6. Personal Finance

    Top Tips for Helping Clients Sustain Wealth

    High-net-worth individuals face a number of potential challenges when passing wealth down, but it is possible to build generational wealth.
  7. Retirement

    How to Retire in Monaco

    If you’re well off and you’ve always dreamed of living on the Riviera, glamorous Monaco might be your ideal retirement destination.
  8. Professionals

    How to Best Navigate Taxes in Retirement

    Here's a rundown on tax strategies that can help extend the life of a nest egg.
  9. Taxes

    10 Little Known Ways To Reduce Your 401(k) Taxes

    These clever strategies will help you hold onto your money – so you'll have more available for your retirement.
  10. Retirement

    Do You Owe Taxes On Your 401(k) When You Retire?

    The taxes you owe on your 401(k) at retirement depend on whether your funds are in a regular 401(k) or the Roth type. You may need tax help to work it out.

You May Also Like

Hot Definitions
  1. OsMA

    An abbreviation for Oscillator - Moving Average. OsMA is used in technical analysis to represent the variance between an ...
  2. Investopedia

    One of the best-known sources of financial information on the internet. Investopedia is a resource for investors, consumers ...
  3. Unfair Claims Practice

    The improper avoidance of a claim by an insurer or an attempt to reduce the size of the claim. By engaging in unfair claims ...
  4. Killer Bees

    An individual or firm that helps a company fend off a takeover attempt. A killer bee uses defensive strategies to keep an ...
  5. Sin Tax

    A state-sponsored tax that is added to products or services that are seen as vices, such as alcohol, tobacco and gambling. ...
  6. Grandfathered Activities

    Nonbank activities, some of which would normally not be permissible for bank holding companies and foreign banks in the United ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!