Philanthropy has always played a crucial role in shaping communities and driving positive change. As time rolls on, each generation’s philanthropic priorities and approach to giving evolve. Understanding these differences and bridging the gap between older and younger generations is crucial for nonprofits to grow their supporter base and drive meaningful change.
As digitalisation reshapes the global economy, a trend of so-called crypto philanthropy has emerged. Involving cryptocurrencies such as Bitcoin and Ethereum, this innovative concept provides a borderless and bureaucracy-free alternative to traditional philanthropy and is poised to take on a powerful role in charitable giving.
When it comes to the world of finance, few names carry as much weight as Ken Griffin. As the founder and CEO of Citadel LLC, a renowned hedge fund firm, Griffin has made a name for himself as a financial genius and prominent philanthropist. With a net worth that consistently ranks him among the world's wealthiest individuals, Griffin's success story is one that inspires and captivates.
Among all generational groups, the health category is a top priority in philanthropic donations. Having a sense of personal touch, health care donors are more likely to make a gift in honour or memory of someone.
People sometimes associate philanthropy with simply donating money to worthy causes, yet it is a deeply engrained notion of how to improve people's lives. It extends beyond the traditional definition of charity to embrace a wide range of behaviours motivated by a sincere desire to make the world a better place. This understanding is essential in the corporate sector, where philanthropy may take various forms other than simply donating money.
Geopolitical tensions and uncertainty have emerged as the new norm, and public, private, and philanthropic actors need to better equip themselves to confront emergency situations in the near and intermediate future, as well as collaborate more closely to address the interconnectedness and complexity of such crises.
Philanthropy dates back to Greek society. According to the US financial media website Investopedia, Plato instructed his nephew in his will to use the proceeds of the family farm to fund the academy that he founded in 347 B.C. The money helped students and faculty keep the academy running.
The Lauder Foundation is a prominent philanthropic organization based in New York City. Established in 1987 by Leonard A. Lauder, son of cosmetics entrepreneur Estée Lauder, and his wife, Evelyn, the Foundation has made significant contributions in a variety of areas, including education, arts and culture, Jewish causes, and disease research. With a focus on supporting organizations that align with its founders' personal interests, the Lauder Foundation has played a critical role in fostering positive change in the community.
Private foundations have demonstrated an unwavering commitment to philanthropy despite economic uncertainties and market downturns. The recently released 2023 Report on Private Philanthropy highlights trends within these foundations and provides valuable insights into their impact on charitable causes.
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To boost the efficiency of the Swiss wealth management business and to strengthen Switzerland as a financial and innovation center are two main goals of the OpenWealth Association. The community of banks, wealth, and wealth managers was established in 2021 in Zurich to develop, define, maintain, and operationalize the Open API standard for the wealth management community.
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