Modern Philanthropy

Episode summary: Traditional philanthropy refers to the conventional and well-established approach to charitable giving and social impact. It has been the predominant model for many years and encompasses various characteristics, including: Financial Donations: Traditional philanthropy often involves individuals, corporations, or foundations providing monetary donations to nonprofit organizations or causes they wish to support. These contributions can range from small individual donations to large-scale grants and endowments. Established Foundations: Many traditional philanthropists set up private or family foundations as a means to manage and distribute their charitable giving. These foundations have specific missions or focus areas and work to provide financial support to various nonprofit organizations aligned with their goals. Focus on Tax Deductible Donations: In many countries, traditional philanthropy leverages tax incentives, where donors can receive tax deductions or credits for their charitable contributions, encouraging more giving. Reactive Giving: Traditional philanthropy often involves responding to immediate needs and crises. Donors may support causes like disaster relief, health initiatives, education, and poverty alleviation, among others. Top-Down Approach: In traditional philanthropy, decision-making typically resides with the donors or their appointed board members. The recipients of the funding are generally passive beneficiaries. Large-Scale Initiatives: Traditional philanthropy is often associated with significant contributions and projects that can have substantial impacts. These initiatives may involve partnerships with governments and other major institutions. Public Recognition: Some traditional philanthropists seek public recognition for their charitable efforts, aiming to inspire others to give and generate awareness for the causes they support. Long-Term Commitments: While traditional philanthropy can address immediate needs, it also involves long-term commitments to sustained support for selected causes or organizations. Nonprofit Sector Support: Traditional philanthropy plays a crucial role in sustaining the nonprofit sector, providing vital funding to organizations working towards social good. It is important to note that philanthropy has been evolving over the years, and new models and approaches have emerged. For instance, impact-driven philanthropy, venture philanthropy, and social entrepreneurship are among the newer trends in the philanthropic landscape, emphasizing outcomes, data-driven decision-making, and innovative solutions. In Modern Philanthropy everyone in society is and can be involved, a person no longer must be white, male, and wealthy. Individuals get together and pool their money, time, and commitment to a cause, issue, or opportunity they see for their community to bring about change on a holistic level. This new approach takes the power out of the hands of a few and places it in the hands of those most intimately involved or devoted to seeing the improvement they desire.   Topics discussed in this episode: - Philanthropy Together [6:00] -  Covid and Philanthropy [13:00] -  Trust and Relationships [20:00] -  DEI [22:29] -  Funding Level + Local Funding [23:50] -  Devotion to Change [28:00] -  Beloved Community [30:00] -  Diversify Your Funding [34:00] -  The Authentic Relationships [40:00] -  Philanthropy [45:00]   Quote: “We are reclaiming philanthropy; philanthropy is about loving humanity.”   Connect with us: - Subscribe to the Project Good Work Blog to read the article version of the interview. - If you have a passion for an unserved community, a social justice problem or want to change minds contact Project Good Work at www.ProjectGood.Work to start your project of change today.