The Importance Of Philanthropy In Modern Society

December 22, 2022

Importance Of Philanthropy

Philanthropy is charitable giving towards worthy courses, but, indeed, is more than donations. It is an effort that an organization undertakes on the basis of an altruistic goal of improving the welfare and wealth of other people or systems. For example, non-profits support a wide range of social causes, including human rights, health, educational, and scientific advances. 

In this post, we take a closer look at the main benefits of philanthropy. Check closely and also consider starting philanthropic work because the world is looking to you for support. 

A Brief History of Philanthropy

A Brief History of Philanthropy

Works of philanthropy can be traced back to ancient Greek society. Plato was the first philanthropist, approximately 347 B.C. Around this time, Plato instructed his nephew in his will to use part of the proceeds from their family to support an academy. This money was vital in helping students to keep running. 

About 150 years later, Pliny donated 1/3 of his funds to the Roman school for young boys. The aim was to ensure that people studied locally as opposed to traveling to other nations. This trend continued in modern times, with notable philanthropists such as Norman D. Rockefeller and Mother Teresa making huge contributions to humanity. 

As the globe faces so many challenges today, philanthropists are helping to address them. One of them, as we are going to establish in the next sections, is the New World Development

Benefits of Philanthropy

Benefits of Philanthropy 

There are many benefits that come from charitable giving. Let’s highlight some of them: 

1. Philanthropists Enjoy Better Well-Being 

One of the most notable advantages of Charitable giving is emotional well-being. Studies have shown that philanthropists enjoy impressive physical and mental well-being from the knowledge that they have contributed to the larger good. For example, when you support the fight against hunger, support children whose parents have died in the war, or facilitate access to health services, there is a deep sense of satisfaction knowing that you did your best. This is why they report less depression, lower blood pressure, and enjoy high self-esteem. 

2. Philanthropic Organizations Have a Better Brand 

At the corporate level, companies that are philanthropic enjoy a better image at the local and global levels. This helps to set them apart from the rest, which is crucial in attracting more support, partnership, and customers. One of these companies that are using philanthropy to support humanity is New World Development. Adrian Cheng, the New General Manager of New World Development, and the third scion of real estate billionaire, Cheng Yu-Tung, believe they have a responsibility to give back to the community. 

To help in countering the danger of COVID-19, New World Development launched the initiative to help kids between 3 and 11 years with their mental health. The company provided tailor-made parenting programs, products, systems, and workshops that helped to improve children’s mental health. Today, they have partnered with different non-governmental organizations for further support and research on children’s mental health

3. Staff in Philanthropic Organizations are Happier and More Productive 

Most people who work in philanthropic organizations indicate that they feel very proud because their work helps to facilitate the noble cause. They are happy, more hardworking, and would want to stick around to help make philanthropy work more meaningful. This is one of the reasons why companies affiliated with philanthropic organizations report more productivity, sales, and profits. 

Philanthropy is an important part of our society because it comes to the aid of the less fortunate, helping to make the planet a better home for all. For philanthropists, this is a noble cause that comes with many benefits both individually and to the corporate. Like with the New World Development in Hong Kong, you too can become philanthropic today to help address the challenges facing the planet. 



Sumona is the publisher for Finance Team. In terms of professional commitments, she carries out publishing sentient blogs by maintaining top to toe on-page SEO aspects. Follow more of her contributions at SmartBusinessDaily and FollowtheFashion

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