What Does It Mean to Be a Philanthropist?

Being a philanthropist is often of the fantasy of most would-be billionaires. It conjures up images of dedication ceremonies and schools built in your honor with plaques memorializing your generosity. Some philanthropists are in fact known for giving away substantial amounts of money for majestic causes that aid society. Some notable examples include John D. Rockefeller and Warren Buffett. There are also philanthropists who have dedicated their very lives to causes they are passionate about, such as Mother Teresa and Paul Farmer, both recipients of numerous humanitarian awards.

That being said, there are countless philanthropists who aren’t even remotely famous, and it suits them just fine. The origin of the word was coined by the Greek playwright Aeschylus to describe a love of humanity. Today it has evolved to mean generosity in all forms, not just monetary or even grandiose, and it is practiced by over 36 million Americans. The gift of philanthropy means a choice of time, talent, or treasure. In addition, most active philanthropists today seek to solve major problems at their root causes, not just to promote one-time projects. There is a deep desire to make the world literally a better place, whether it be through climate change, animal rights, or social issues. The U.S. government endorses the idea of charitable giving by offering tax incentives such as deductions against capital gains, income, and estate taxes. 

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