Philanthropy has actually long been a main part of a reasonable and prosperous culture, however the way that it works has altered over the years.

One might, when one hears the word philanthropy, immediately think of a handful of famous philanthropists who are well known for distributing their fortunes to causes that they care about. This is something that has actually been the case for many thousands of years, with the very first recorded example of institutionalised philanthropy, in addition to the genesis of the philanthropy meaning and word, happening over two thousand years earlier in ancient Greece. During this duration, the word implied something more akin to 'caring of one's fellow man', or humanism, than the constraints of wealth one might apply to the term nowadays, but nonetheless rich individuals played a crucial charity role in the culture. Wealthy people were anticipated to give back to the community, assisting to set up the money for repairs to public works like city walls or temples as well as funding festivals and other public events. Being stingy was not regarded well, and if a wealthy individual was not seen to be a philanthropist, they could be ostracised from the society entirely.

Several entities have been responsible for charity work throughout the ages. Although rich individuals and celebrity philanthropists might be seen as the main charitable force in the modern world, that is not always entirely accurate, nor has it been for much of history. In the middle ages, it was religious organizations like the church that would have been the main charitable centers, both within the community and on bigger level projects. That altered with the coming of industry when rich individuals ended up being more powerful, and then moved again towards the end of the 19th century when foundations began to emerge that were better set up and could devote more attention to getting things done. This is much the same manner in which charity is structured nowadays, whether those foundations are set up by grassroots groups, rich individuals, or firms like SJP.

The way that charity has actually been funded has actually changed a lot throughout the course of human history, moving between various entities which hold the most power and wealth, just as the focus of charity work has altered as different needs have actually emerged. These days, there are a great many concerns that have to be attended to, from widening inequality to the environment crisis, and charity will inevitably play an essential part in that process. Rich individuals with savings account that would make a medieval kings blush have their part to play, however so do the firms that are the central centers of financial generation in the 21st century through things like corporate philanthropy. Whether that is setting up a foundation of their own or developing ESG dedications, companies like Morgan Stanley and Vanguard Group are starting to do so.