Here at The Community Foundation Serving Boulder County, we know that terminology around philanthropy and giving can be confusing, and that these terms can be perceived differently by different people, in different contexts. And sometimes, these terms are used interchangeably.
At this time of year, commonly known as the season of giving, we thought we’d share our perspective:
The definition of philanthropy is “the desire to promote the welfare of others, expressed especially by the generous donation of money to good causes.” Explained more fully, philanthropy means voluntary action for the public good through personal acts of kindness or volunteerism, and/or through financial support of a cause.
As such, we think of giving as a subset of philanthropy. It usually implies the gift of an asset – in the form of cash, appreciated stock, real estate, etc. – toward a charitable purpose that aims to mitigate suffering and improve quality of life.
That said, the terms overlap as does the intrinsic value of financial donations and in-kind gifts of service and voluntary activity.
It’s on us as philanthropists, then, do our part to build a culture of giving. In this season, and in every season.
