Buddhism and Business

Philanthropy

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-raising.( fund-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. Among the methods used are door-to-door appeals, direct-mail campaigns, charity dinners and testimonials, charity balls, benefit entertainments, and, more recently, televised appeals and telephone solicitation. These techniques are generally accompanied by advertising and public relations campaigns. Before World War I private social agencies conducted individual fund-raising drives in their own communities, but with the war came the start of federated drives conducted by several agencies for purposes related to the war effort. The community chest movement had its origin in these federated efforts. These joint efforts were highly successful in that they raised more money at a considerably lower cost. The United Way of America is now the national association of all community chests and community welfare councils. In addition to federated drives, the period following World War I also saw the development of professional organizations that raise funds for a percentage of the total. Although the united fund movement spread rapidly, many agencies still chose to conduct independent campaigns, notably the health-promoting organizations. After the American Red Cross reversed its position in the 1950s and allowed local chapters to join United Way drives, most health groups did likewise. Fund-raising for political purposes has led to demands for national and state regulation of such activities.) 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. Foundations ( foundation

foundation, institution through which private wealth is contributed and distributed for public purpose. Foundations have existed since Greek and Roman times, when they honored deities. During the Middle Ages in Europe the church had many foundations, and in the Arab lands the waqf, or pious endowment, developed with the growth of Islam. In modern times European foundations, generally smaller than their U.S. counterparts, have been closely regulated by the state (e.g., the Nobel prizes; see Nobel, Alfred Bernhard).

In the United States there were a few early foundations, notably those endowed by Benjamin Franklin in 1791 to provide funds for loans to "young married artificers of good character" and by James Smithson in 1846 for the establishment of the Smithsonian Institution; however, it was not until after the Civil War that foundations developed rapidly. Social disintegration in the South and the establishment of early foundations such as the Peabody Education Fund and the John F. Slater Fund (both designed to provide educational opportunities for African Americans in the South) promoted the movement. The rapid growth of northern industrial enterprise in the postbellum years brought with it an accumulation of huge private fortunes. By the turn of the century, persuasive preachers of the "social gospel" urged the wealthy to meet their charitable obligations to society. Andrew Carnegie Carnegie, Andrew (kärnĕg`ē, kär`nəgē), 1835–1919, American industrialist and philanthropist, b.
..... Click the link for more information.  and John D. Rockefeller John Davison Rockefeller, Jr., 1874–1960, b. Cleveland, grad. Brown, 1897, took over active management of his father's interests in 1911 and engaged in numerous philanthropies. Riverside Church in New York City was built through his gifts.
.....
Click the link for more information. , Sr., in the period 1896 to 1918, led the way in creating foundations that could distribute their enormous wealth in what was considered to be the most efficient and socially beneficent manner.

Favorable income tax laws in the 1940s further spurred philanthropic activity. During the early 1950s many American foundations were attacked by right-wing journalists and Congressmen; between 1950 and 1953 the House of Representatives conducted two separate investigations into "subversion and Communist penetration" of the nation's philanthropic foundations. Attacks on the foundations began to subside, however, with the passing of the so-called McCarthy era. Although a number of foundations have been restricted by their charters to specific philanthropic functions, the larger U.S. foundations have devoted themselves to broad areas (see separate articles on Lilly Endowment, Inc Lilly Endowment, Inc., institution founded (1937) at Indianapolis, Ind., by pharmaceutical manufacturer Josiah K. Lilly (1861–1948) as a philanthropic foundation for "the promotion and support of religious, educational, or charitable purposes"; most of its work
..... Click the link for more information. .; Ford Foundation Ford Foundation, philanthropic institution, established (1936) in Michigan by Henry Ford and his son, Edsel, for the general purpose of advancing human welfare.
..... Click the link for more information. ; Rockefeller Foundation Rockefeller Foundation, philanthropic institution established (1913) by John D. Rockefeller , Sr., to promote "the well-being of mankind throughout the world." During its first 14 years the foundation received $183 million from Rockefeller.
..... Click the link for more information. ; Sloan Foundation Sloan Foundation, fund established (1934) by automobile executive Alfred P. Sloan, Jr. as a philanthropic institution supporting research in various areas. In its early years it stressed support of U.S. economic education and research.
..... Click the link for more information. ; and Commonwealth Fund Commonwealth Fund, foundation established (1918) by Anna M. Harkness, wife of Stephen V. Harkness, an early Standard Oil investor, "for the welfare of mankind." Its headquarters are in New York City.
..... Click the link for more information. ). The 1980s and 90s saw a doubling in the number of grantmaking foundations, including those developed by financier George Soros Soros, George (sôr`ōs), 1930–, American stock trader and philanthropist, b. Budapest, Hungary, as George Schwartz.
..... Click the link for more information.  and Microsoft founder Bill Gates Gates, Bill (William Henry Gates 3d), 1955–, American business executive, b. Seattle, Wash. At the age of 19, Gates founded (1974) the Microsoft Corp., a computer software firm, with Paul Allen.
..... Click the link for more information. . Due in part to economic prosperity, foundation giving doubled between 1990 and 1998 to $19.5 billion. In 1997, the largest recipients of grant dollars were education, health, and human services

foundation

Part of a structural system that supports and anchors the superstructure of a building and transmits its loads directly to the earth. To prevent damage from repeated freeze-thaw cycles, the bottom of the foundation must be below the frost line. The foundations of low-rise residential buildings are nearly all supported on spread footings, wide bases (usually of concrete) that support walls or piers and distribute the load over a greater area. A concrete grade beam supported by isolated footings, piers, or piles may be placed at ground level, especially in a building without a basement, to support the exterior wall. Spread footings are also used—in greatly enlarged form—for high-rise buildings. Other systems for supporting heavy loads include piles, concrete caisson columns, and building directly on exposed rock. In yielding soil, a floating foundation—consisting of rigid, boxlike structures set at such a depth that the weight of the soil removed to place it equals the weight of the construction supported—may be used.

foundation

Nongovernmental, nonprofit organization with assets provided by donors and managed by its own officials and with income expended for socially useful purposes. Foundations can be traced back to ancient Greece. The late 19th century first saw the establishment of large foundations with broad purposes and great freedom of action, usually originating in the fortunes of wealthy industrialists. Today foundations are classified as community (having support from many donors and located in a specific community), corporation-sponsored, and independent. Notable examples include the Smithsonian Institution (1846), the Carnegie Corp. of New York (1911), the Rockefeller Foundation (1913), and the Ford Foundation (1936), one of the largest in the world. Nongovernmental organizations are known colloquially as “NGOs.”

foundation
1. the charter incorporating or establishing a society or institution and the statutes or rules governing its affairs
2. Cards a card on which a sequence may be built)
foundation, 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 Chests, (community 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. The fund is administered by the community chest or united fund itself, or as a joint endeavor with a community welfare council; to represent the idea of administering, as well as collecting, the funds, the national association in 1927 took the name Community Chests and Councils. Today the organization's official name is the United Way of America. In 1974, it formed United Way International to provide assistance to the international United Way community and similar fundraising organizations outside the United States. The idea of cooperative collecting for charitable purposes originated in Liverpool, England (1873), and, in the United States, in Denver (1887). In 1900 the Cleveland chamber of commerce went a step further and assumed responsibility for endorsing the agencies seeking funds; 13 years later Cleveland brought almost all its welfare organizations together in the Cleveland Welfare Council. The name community chest was coined in Rochester, N.Y., in 1913.)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

Voluntary, organized efforts intended for socially useful purposes. Philanthropic groups existed in the ancient civilizations of the Middle East, Greece, and Rome: an endowment supported Plato's Academy (c. 387 BC) for some 900 years; the Islamic waqf (religious endowment) dates to the 7th century AD; and the medieval Christian church administered trusts for benevolent purposes. Merchants in 17th- and 18th-century western Europe founded organizations for worthy causes. Starting in the late 19th century, large personal fortunes led to the creation of private foundations that bequeathed gifts totaling millions and then billions in support of the arts, education, medical research, public policy, social services, environmental causes, and other special interests. See Andrew Carnegie; B'nai B'rith; Bill Gates; George Peabody; Rockefeller Foundation; Straus family.