Where Lies the Future of Philanthropy and How Bright is it?

Giving others and finding no interest in it- the basic motto of philanthropy. People for ages have been living as a communal being, and in this process, they have at the time stood by their brothers and saved them out from the crisis situations. And this nature of human beings which stays inherent in them gave birth to philanthropy, whose institutional form is hardly a century old. Right from the very nascent stage, those who have been at the receiving end, and also the public at large keep debating about the fact why individuals should deploy their wealth and assets for the greater good and serve the nation. In fact, this is not where the discussion regarding institutional philanthropy ended, but it went way ahead and even the Government and regulatory bodies of International Relations thought how it can be utilized for enhancing and strengthening the bond between two countries.

Even though a century has already gone by, but the philanthropic institutions have not successfully dealt with these questions and hence there’s still a lot of discussions required. Mark Arabo jots down some of the most crucial areas that these philanthropic institutions need to work upon- the legal framework and the tax regimes, the diversity of the board of members and staff, and also the democracy in the decision making.

A major part of this complexity is because today’s philanthropy owes to the fact that generation of wealth is no more a big deal, and since technological advancements have taken a new shape altogether, it takes no time to earn money. Now since the technology is available only to a few, the accumulated wealth gets restrained to only a few and the rest are completely neglected of it. Hence the disparity starts, and hence philanthropic giving is required.

Mark Arabo finds a new trend which is indeed a sign that better days are on its way. There is a new generation of entrepreneurs who have believed that if knowledge can be democratized and spread across the greater mass, then the accumulation of wealth can be reduced and there will be a generality in the entire scenario. New social media platforms have been created and multiple events are being organized where millions of people are invited to take part of, and hence get a hand on the modern day technology. Rather than changing the world, make sure philanthropy gets to be the game changer and the fate changer.

However, philanthropy was created just to be a mechanism which would keep money off the hands of the wealthy. And till 1969, that is how it has worked with enough steadiness. But then few foundations grew up who identified how justice is not being maintained in the process, and since then it has been the game changer for the entire world. There has been a complete structural change in the entire process it worked, and hence opportunities were increased for those who are least well off politically, economically and even socially. The fundamental problem of philanthropy has been the voluntary attitude in it, and the soon it can be modified, the better it gets for the world.