Bookmark What literature tells us about philanthropy — we did the reading for you and busted these myths. BY AMY MULLOWNEY ’19
Philanthropists are all millionaires. Philanthropy is acting
on your humanity, compassion and hope of a better future. In Giving 2.0, Laura Arrillaga-Andreessen defines a philanthropist as anyone who gives any amount of time, money, experience or skills in an act of altruism.
One person can’t make a difference. Every little bit helps.
To put things in perspective, visit givingwhatwecan.org and input your household income into the global wealth calculator to see where you fall. In 2015, an annual income of $11,000, just below the U.S. poverty line, was still richer than 85% of people in the world. Giving something does more good than giving nothing. However, William MacAskill points out in Doing Good Better that it is necessary to research a charity to ensure your donation will make maximum impact.
You never really know what charities do with your money.
To get the best bang for your buck in charitable giving, do your homework. Research is an important step in evaluating an agency’s effectiveness in carrying out its mission. In Successful Philanthropy, Jean Shafiroff shares resources such as charitynavigator.org, a database of organizations that are evaluated on operations and cost-effectiveness.
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A grassroots approach won’t change the world. It’s not just
donors, but also doers that are crucial to any force of change. Volunteering your time, knowledge, skills, contacts and other creative resources can truly make a difference. It’s not about profitability, but impact— exactly the revelation Wes Moore has in his biography, The Work: My Search for a Life that Matters.
Money can’t buy happiness.
The last, and perhaps most controversial, myth. We’ve all heard that money can’t buy happiness, but what if we’re just spending it on the wrong things? In The Most Good You Can Do, moral philosopher Peter Singer discusses the reciprocal relationship between philanthropy and happiness. Studies show altruistic acts correlate with positive emotions and well-being.
