WHITE COLLAR ISSUE 004
T
he charitable nature of people is as old as humanity itself, but where does it come from? What influences the decision to give?
Our instinct for self-preservation has led to our obsessive compulsion with accumulating as much material wealth as we possibly can. Looking at the 1% that does succeed in accumulating wealth, we can see a few traits both good and bad that govern the way they live. Some try to preserve this wealth by passing it down to their children who they hope would it for the improvement of their lives and those of others as well. Other wealthy patrons realize that they can’t take their wealth with them, case in point, the Egyptian kings who were buried with their wealth and it was later unearthed. There are two paths to follow when you realize that you can’t take wealth with you, one is, you could squander it and the other is use it to do a little bit of good in this world.
Warren Buffet, one of the world’s wealthiest men, once stated “Doubling your net worth won’t make you happier.” Following this statement, he pledged to be a part of the Bill
and Melinda Gates Foundation where he would give a lot of his wealth to improve the lives of others. Despite the fact that extreme poverty has been cut in half over the past 30 years, there are and might always be the less fortunate who will lack the bare minimum necessities to lead a dignified life. Today, philanthropy defines the charitable undertakings to human causes by wealthy patrons and organizations. World-renowned philanthropists Charles Bronfman and Jeffrey Solomon define the art of giving as the place where the soul meets a business plan. For wealthy donors, the art of giving has become a science of sorts, with several paradigms, each defined by distinct traits. This is far from the more common and traditional impulse philanthropic model where individuals and corporates gave simply out of concern and the ‘feel good’ effect of being generous. Today, donors focus on endeavors such as impact philanthropy, where monitoring and evaluation of the recipients of aid is religiously undertaken. Organizations
VENTURE PHILANTHROPY Could this be the next step in Charity?
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