Define and explain charity and philanthropy What are the primary motivators for giving by corporations, foundations, and individuals Charity and philanthropy

Although the words “charity” and “philanthropy” are sometimes used interchangeably, the two words are really different. The Greek word philanthropy, meaning “kindness,” is where the word philanthropy first appears. “A private effort for the common good, combining original humanistic traditions with elements of the social sciences,” reads a recent description. Philanthropy is a concept or practice aimed at the betterment of humanity, usually involving some sacrifice rather than being done for financial gain. The word charity means “helping the needy, being merciful, and giving,” and is derived from the Old French word christe. Giving money, products or time to those in need, directly or through a charitable foundation or other worthy cause, is the practice of philanthropy (da Silva et al., 2020). Unlike philanthropy, which is more programmatic and focused on rebuilding, philanthropy is more of an emotional, quick response, with a primary focus on rescue and assistance. The main difference between the two is that philanthropy aims to alleviate the suffering caused by a specific social problem, whereas philanthropy aims to address the root causes of the problem (Salido-Andres et al., 2021). To illustrate this, consider the difference between philanthropy and charities: the former involves educating local people about issues, while the latter funds teams of medical researchers working to develop malaria treatments. continue…

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