The Contributions of a Business Leader and Philanthropist
Whether you are involved in a philanthropy organization or a business that supports nonprofit organizations, it’s essential to understand the contributions that a Business Leader and Philanthropist can make to the community. The grants are not just in money and goods. They are in involvement and sharing.
Entrepreneurs’ Approach to Philanthropy
Almost half of the entrepreneurs consider themselves to be philanthropists. But how do these philanthropists approach giving? Using data gathered from a survey of U.S. adults, the Artemis Strategy Group found that entrepreneurs place a higher priority on charitable giving than other financial priorities.
Entrepreneurs also volunteer more than their peers of similar economic circumstances. Two-thirds of these business owners report volunteering two or more hours a month. A study by Fidelity Charitable found that the median gift made by entrepreneurs is 50 percent higher than that of non-entrepreneurs.
Rather than focusing on charity handouts or government spending, entrepreneurial philanthropists invest in market solutions that address problems of poverty. These philanthropists are part of extra-corporate networks, which span domains from business to politics.
Entrepreneurial philanthropists like Ehsan Bayat said that motivations are rooted in a secular ethical perspective. They see the need to improve living standards for all members of society. They also seek to address social inequality and problems of injustice.
Involvement is a Means of Supporting the Fabric of the Community.
Getting involved with your community is a noble endeavor. This is especially true at a time when government agencies are stretched thin. A bit of civic scheming will go a long way toward building stronger communities and a healthier environment. Besides, giving back can make your employees happier, which will, in turn, boost your bottom line.
Taking the time to engage with your neighbors can be an enlightening experience. This is especially true if you are in a community that is geographically isolated. While you are at it, consider volunteering for a local charity. This is not only a great way to give back to the community but also has the added benefit of increasing your network of contacts. Whether you are a new hire or a lifelong resident, you are bound to meet a few like-minded individuals.
Corporate Philanthropy Sparks Controversy
Having a lot of money doesn’t mean much if it isn’t put to good use. The corporate bigwig in charge of distributing your well-earned dollars can’t help but have something to say. There’s no shortage of socially minded CEOs and CFOs with philanthropy worthy of a magnaphonic. Nevertheless, there’s one name that keeps coming up in conversation: the Koch brothers. They’ve given generously to Florida State University and the University of Notre Dame, but these aren’t the only benefactors.
There’s been plenty of skepticism surrounding Elon Musk’s donation, but it’s clear that he’s in the business of charitable giving. Among the many donors, Tesla and Drew Industries stand out, but the tech titan isn’t the only one with a generous streak. The other contenders include JCDecaux and Accenture, whose CFOs are arguably the most charitable of the lot.
Sharing is a means of encouraging philanthropy.
Among the best activities, a donor can do is to share the reasons behind their philanthropic decisions. There are a number of ways to do this. You can start by putting your family at the center of your decision-making process.
You can share a few details about your philanthropic plans with them, but you should avoid revealing the entire project to your family. This might lead to an awkward discussion, but it’s best not to elicit any criticism from your loved ones. While it’s important to let your loved ones know your motivations, you don’t want to make them feel like you are braggadocio.
When it comes to a philanthropic decision, your values are the most critical factor. You want to avoid overpaying your employees or overdoing the monetary contributions. Instead, it would help if you tried to pay them fairly so that they feel appreciated. When they see you pay them well, they are likely to want to share their hard-earned wealth with others.
Rosenwald’s Views on Anonymous Giving
During the Jim Crow era, Rosenwald’s Foundation helped build over five thousand schools for African Americans in the South. It also contributed to constructing more than 160 teachers’ homes and 163 workshops.
Julius Rosenwald donated millions to public schools, colleges, museums, and relief agencies during his lifetime. He also gave over two million dollars to Black University Centers at Howard and Fisk.
When he died in 1929, his foundation had given away over 63 million dollars through scholarships, fine arts, museums, scientific research, and relief agencies. His fund had built over 5,000 schools for African American students in the Southern states by his death.
Although the Rosenwald Fund closed after his death, his legacy of giving lives on in the thousands of schools he supported. It is a testament to the value of anonymity that so many donors still utilize multiple methods of anonymity in their philanthropic endeavors.