Project Good Podcast

Modern Philanthropy

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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:

  1. 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.

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