Success to Significance: Financial Times on Philanthropic Travel?
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Success to Significance: Financial Times on Philanthropic Travel?
Friday, December 14, 2007
"It's becoming clear that part of the way you manifest your identity is by your giving," he says. "Giving is the new buying - and part of how you express who you are is what you donate to." -Wally Olins
"Surplus wealth is a sacred trust, to be administered during life by its possessor for the best good of his fellow-men," he told the audience assembled at the Carnegie Library in November 1895. The celebrated philanthropist went on to predict the dawn of a day when 'the man who dies possessed of available millions which were free and in his hands to distribute, will die disgraced'. The often-quoted words of Andrew Carnegie are gaining renewed relevance for today's high net wealth individuals, as lifetime giving becomes more popular.
Carnegie's philosophy is being taken to heart by a growing number of donors, as a generation of self-made wealthy individuals seeks to engage in philanthropic activities, rather than simply leave their money to a charity or to their family in a will.
Philanthropy UK, an independent resource for donors, has noticed the trend. One of the key findings of a report the organization published in September was that more people are giving during their lifetimes, as opposed to making legacy bequests. "They want to see the impact of their contribution and to experience the joy and rewards of giving," the report's authors wrote.
Philanthropy: Self-made want to be hands-on donors by Sarah Murray FinancialTimes.com
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