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People wonder about the definition of philanthropy. Originating from the words “love of humanity,” the concept means generosity in all forms. A philanthropist is spoken as someone who gives their time, talent, or treasure in the hopes of creating a better world. Contrary to popular belief, it doesn’t matter who you are or how much is in your bank account. Anybody who wants to be a philanthropist can become one. 

What Is Philanthropy?

Philanthropy is a love of humanity. It entails generosity. It is the practice of giving one’s time and talents to make things better. A philanthropist donates something they believe will help improve lives, but it isn’t always money. 

Who Are Some Famous Philanthropists?

Most philanthropists aren’t rich or famous, but we hear about them in the news because of their wealth or achievements in life. John D. Rockefeller was a renowned philanthropist. He donated massive amounts of cash to help underprivileged people. Mother Theresa wasn’t a millionaire, but she was notable for the good things she did. Many people make financial contributions or volunteer their services. Many volunteer both services and monetary donations to help others. 

What Are The Benefits Of Being A Philanthropist?

Many philanthropists want to solve the problems of society and thus help people. Philanthropy is a benefit for both the donor and the recipient. The Federal Tax Code encourages people to be generous with their income because they can deduct charitable donations from their taxes. Some other positive effects of charitable giving include lower stress levels, increased dopamine levels from doing a good deed, and a better connection with fellow humans through a united cause. The people who donate to causes also tend to have a higher degree of empathy.

What Does Someone Have To Do If They Want To Become a Good Philanthropist?

You don’t need a boatload of cash. All you need is a willingness to donate your time and talents. It doesn’t hurt if you want to donate your disposable income as well. It is essential to think strategically, though. There are online resources that can help with that. “Boost Your Giving IQ” is one. Such resources give someone tools that allow one to come up with a good plan. Websites like Charity Navigator will also provide insight into the legitimacy of the non-profits you’re interested in. They use a well-researched rating system.