Philantrophy in Ireland

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Rockefeller: Gates relaunches philanthropy Through his foundation, Microsoft founder is aiming to change charity

There’s a story about Bill Gates that his wife, Melinda, likes to tell. Shortly before the couple established their philanthropic foundation in 1997, Bill carried around in his briefcase for a month an emotional letter from an American family asking him to help a sick child who needed a kidney. “Bill agonized over it,” Melinda recalled at a digital industry conference last month in California. “Do you spend $20,000 on a single transplant or buy vaccines for many children in Africa?”
For the past 10 years, the Gateses have opted for the latter: “How can we do the most good for the greatest number with the resources we have?” Bill asked a sea of Harvard University graduates at their commencement ceremony last year.
The answer? If you’re Bill Gates — with $37.5 billion in your foundation’s coffers and as much as $100 billion to contribute over the course of your lifetime — you do it very, very carefully, say philanthropy leaders. With that kind of wealth comes unprecedented giving power: you have the world’s biggest foundation — the Wal-Mart of the global charity sector — and you’ve got the single most powerful leadership platform in philanthropy today. “One out of every 10 foundation dollars spent is going to have the Gates name on it, and that gives (Gates and his foundation) an influence that is impossible to calculate,” says Rick Cohen, the former executive director of the National Committee for Responsive Philanthropy. Adds Steve Gunderson, president of the 2,000-member Council on Foundations: “Bill Gates is now the face of philanthropy for the country, if not the world” — and like it or not, Gunderson told Contribute Media, “the Gateses will have an obligation to lead and deliver for decades to come.” (By Marcia Stepanek and Cristina Maldonado-www.msnbc.msn.com)

Philanthropy

Philanthropy derives from Ancient Greek, meaning "to love people". Philanthropy is the act of donating money, goods, services, time and/or effort to support a socially beneficial cause, with a defined objective and with no financial or material reward to the donor. In a more general sense, philanthropy may encompass any altruistic activity intended to promote good or improve human quality of life. One who practices philanthropy may be called a philanthropist. Although such individuals are often rich, people may perform philanthropic acts without possessing great wealth.

Philanthropy is a major source of income for fine arts and performing arts, religious, and humanitarian causes, as well as educational institutions.

During the past few years, some high profile examples of philanthropy include Irish rock singer Bono's campaign to cancel Third World debt to developed nations; the Gates Foundation's massive resources and ambitions, such as its campaigns to eradicate malaria and river blindness; and billionaire investor and Berkshire Hathaway Chairman Warren Buffett's donation in 2006 of $31 billion to the Gates Foundation.

Philanthropy is facilitated by development professionals and fundraisers. Donor relations and stewardship professionals support the development profession by recognizing and thanking donors in a fashion that will cultivate future giving to nonprofit organizations. The Association of Donor Relations Professionals (ADRP) is the first community of stewardship and donor relations professionals in the United States and Canada.
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