When it comes to making corporate donations, there are many different philosophies that organizations can follow. Some choose to give based on need, while others focus on giving to organizations that they feel are doing good work. There are also those who prefer to give based on their company values or beliefs.
No matter what your personal beliefs are, there’s no denying that giving back is a good thing. There are countless philosophies of ethical giving. Here are some of the most common ones according to Yitzhak D Stern.
Yitzhak D Stern’s Philosophies for Ethical Giving
Here are some of the philosophies of ethical giving:
1. Compassionate Philanthropy
This philosophy has to do with giving based on the principles of compassion and altruism, with the goal to relieve suffering and promote the well-being of others.
2. Empowerment Giving
It’s the philosophy of giving that focuses on empowering people and communities to improve their own lives. The aim is to help people help themselves and create lasting change. This approach is known to bring about sustainable change for the good.
3. Offering Support Against Injustice
This is the least considered philosophy and focuses on supporting individuals and groups who are facing injustice. The goal is to help those who are disadvantaged or discriminated against to fight for their rights.
4. Giving to Benefit Future Generations
This altruism philosophy relates to benefiting future generations, striving to invest in projects and causes that will have a positive impact on the world long after we are gone. Again, very few philanthropists adopt this approach.
5. Giving in the Form of Reparations
It’s the philosophy of giving that focuses on making amends for past wrongs. It aims to correct historical wrongs and help those who have been affected by them. In most cases, it has to do with human rights.
6. Serving the Neediest
This philosophy emphasizes the need to serve those who are in need, looking to help those who are struggling to meet their basic needs.
7. Effective Altruism
It’s the philosophy of giving that focuses on doing the best with one’s resources. The goal is to make the biggest positive impact possible.
8. Mission-Driven Philanthropy
This philosophy is based on the belief that philanthropy should be used to further a social or moral mission, with the aim of making a positive impact on society.
9. Values-Based Philanthropy
It’s a philosophy based on personal or organizational values. The goal is to support causes and organizations that align with the donor’s values.
We hope you’ve enjoyed Yitzhak D Stern’s philosophies on ethical giving – there are so many ways to make a difference in the world, and it doesn’t have to be expensive or time-consuming. Just take a little time to think about what matters to you and how you can use your resources to support those causes.
There is no one perfect way to do this – just find what works for you and go for it! What philanthropic philosophy resonates with you the most?