philanthropy

(redirected from Corporate giving)
Also found in: Dictionary, Thesaurus, Legal, Financial.

philanthropy,

the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. Every year vast sums of money are collected for invaluable philanthropic purposes, and an increasing number of people participate in the work of collecting money through highly organized campaigns, the purpose of which is fund-raisingfund-raising,
large-scale soliciting of voluntary contributions, especially in the United States. Fund-raising is widely undertaken by charitable organizations, educational institutions, and political groups to acquire sufficient funds to support their activities.
..... Click the link for more information.
. In many countries philanthropy has been incorporated in government policy in the form of tax exemptions for contributions to charitable agencies. It has become so accepted that few now escape the demands of giving, and many important institutions are partly or wholly dependent on it.

In early times, charity was usually prompted by religious faith and helped to assure a reward in an afterlife, a notion found in Egypt many centuries before the Christian era. Throughout history, active participation in philanthropy has been a particular characteristic of Western societies. A traditional philanthropic ideal of Christianity is that of the tithe, which holds that one tenth of a person's income should go to charity. Charity is also important in Islam, Buddhism, and other religions. Foundationsfoundation,
institution through which private wealth is contributed and distributed for public purpose. Foundations have existed since Greek and Roman times, when they honored deities.
..... Click the link for more information.
—institutions that distribute private wealth for public purposes—also have an ancient history.

At the end of the 19th cent. it was recognized that corporations could play a part in financing voluntary agencies when the Young Men's Christian Association set a new pattern for raising money: intensive drives over a short period of time, the use of sophisticated techniques to raise money, and an emphasis on corporation donations. Other voluntary agencies soon copied this pattern, and it is still the typical practice for large-scale fundraising. During World War I, coordination of effort became a trend in philanthropic activity. In the United States, this coordination took the form of Community Chestscommunity chest,
cooperative organization of citizens and social welfare agencies in a city. Also known as a united fund, it has two purposes: to raise funds through an annual campaign for its member agencies and to budget the funds raised.
..... Click the link for more information.
, which combined a number of charities under one appeal, now known as the United Way.

Today the organization and coordination of philanthropy has eliminated much of the spontaneity of giving. They have also brought about a more rational assessment of ability to give as well as the introduction of scientific methods of ascertaining community and national needs and of raising money. The focus has also shifted from the relief of immediate need to long-term planning to prevent future need.

Philanthropy

Appleseed, Johnny
nickname of John Chapman (c. 1775–1847), who traveled through the Ohio Valley giving away apple seeds and caring for orchards. [Am. Hist.: Collier’s, IV, 569]
Carnegie, Andrew (1835–1919)
steel magnate who believed the rich should administer wealth—for public benefit. [Am. Hist.: Jameson, 83]
Guggenheim
19th- and 20th-century family name of American industrialists and philanthropists. [Am. Hist.: NCE, 1159]
Mellon, Andrew (1855–1937)
financier and public official; left large sums for research and art. [Am. Hist.: NCE, 1743]
Rhodes, Cecil (1853–1902) British
imperialist; left millions of pounds for public service; notably, the Rhodes scholarships. [Br. Hist.: NCE, 2316]
Rockefeller, John D(avison)
(1839–1937) American multimillionaire; endowed many institutions. [Am. Hist.: Jameson, 431]
References in periodicals archive ?
One of the largest and most prominent examples of corporate giving to come to fruition last year was undeniably the BP Asset Integrity and Corrosion (AIC) Laboratory, reflecting a $1 million donation from BP Alaska in partnership with the University of Alaska Anchorage.
1 Corporate giving totals include giving by Wells Fargo Bank, its subsidiaries, the Wells Fargo Foundation, and the Wells Fargo Regional Foundation.
Corporate giving includes sponsorship of the Human Rights Campaign, Georgia Equality, AIDS Walk Atlanta, and the American Cancer Society's Relay for Life, plus support of various pride events and parades across the country, including those in Seattle and Boca Raton, Fla.
In Colorado, there is no central compilation of corporate giving.
In 1999, total corporate giving in the United States reach $11.
But while corporate giving has increased over the years, some observers believe it is not keeping pace with rising company profits.
If big-time corporate giving to politicians was prohibited, the clout of private sector lobbyists would rapidly fade, since these lobbyists could no longer demand access and favors in return for campaign contributions.
Check your local library for the Directory of Corporate Affiliations (to find out who owns whom) and the Corporate Giving Directory (to find out where a company's donations go).
Although the company provided BLACK ENTERPRISE with some very promising statistical data--16% of Frontier's work force is minority; 33% of the firm's board is minority; 46% of corporate giving is directed toward minorities; 940 of the firm's suppliers are minority and 19.
In relation to other corporate expenditures such as major capital investments, corporate giving is relatively immaterial, and consequently should not be singled out for detailed disclosure, yet alone shareholder approval.
The motivation for corporate giving is not inherently altruistic.
Corporate giving is an investment to build a stronger and a more caring and resilient society.

Full browser ?