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Philanthropy

Oxford dictionary defines philanthropy as "The desire to promote welfare in others, expressed especially by the generous donation of money to good causes." Common examples of this are giving charitable donations and volunteering to help others. The Council on Foundations clarifies the differences from philanthropy, which most commonly comes in the form of a private foundation, and a public charity. A public charity is a public funded and reactionary, charities give humanitarian aid to those who are immediately in need. A private foundation is supported by a small number of contributors. Because it is not funded by the public, private foundations are not pressured to use their funds to help with immediate problems by the public. Instead of being reactionary philanthropist attempt to solve specific problems in a society such as education and universal suffrage.

In the mid to late 1800's several Americans created their fortune through the growing steel industry one of these Americans was Andrew Carnegie. In addition to being a successful industrialist Andrew was one the most well known philanthropist. HISTORY estimates he donated $350  million through out his life time, equal to more than $10 billion today. Philanthropy was so important to Andrew he wrote "The Gospel of Wealth" which instructed others who came into wealth to follow in his footsteps and give their money to worthy causes. Donations were not the only examples of his philanthropy as he was dedicated to promoting education opening over 2500 public libraries. He states his reasoning for this generosity in "Gospel of Wealth" stating "a moral obligation to distribute [their money] in ways that promote the welfare and happiness of the common man."

Whereas Carnegie focused on giving money to support public institutions such as libraries and churches. J.D. Rockefeller focused on scientific research, funding several programs and studies in the biomedical field. One of his greatest accomplishments was the near eradication of hookworm in the southern united states. The Philanthropy Round Table

The Carnegie Foundation has the mission statement "for the Advancement of Teaching". The foundation is primarily involved in early education. The Carnegie Foundation has several programs specifically for early literacy.

While there are several well known philanthropist and philanthropic foundations one of the most influential is The Bill and Melinda Gates Foundation with the mission statement: "All Lives have Equal Value" This foundation focuses on eliminating the poverty cycle and allowing all people access to healthcare and education.




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