Giving Compass' Take:

· Writing for IOL Business Report, Georgina Crouth discusses the work of The Rothschilds and explains why using a business mindset is key to approaching contemporary philanthropy. 

· How does using business mindset allow for more innovative approaches to philanthropy? How can philanthropists use their experience in other fields to help with their giving? 

· Here's how to develop a contemporary strategy to serve in your timeless philanthropic mission. 

The Rothschilds have done what nobody else could, bankrolling the Suez Canal and helping establish entire countries and newly independent states.

They've financed many sectors for generations; built public libraries, orphanages and hospitals, homes for the elderly, education and social housing.

Besides their long-standing tradition of banking, the Rothschilds are also renowned philanthropists who use their wealth to make an impact the world over and transform their family legacy of charity into one of active philanthropy.

For the Edmond de Rothschild branch of the family, philanthropy is not about the charitable donations of old: it’s about bringing the entrepreneurial spirit to professionalise altruism and equipping partners to help themselves.

“Teaching a man to fish rather than giving him hand-outs has a far greater impact on the future generations,” commented Firoz Ladak, chief executive of the Edmond de Rothschild Foundations.

Read the full article about applying a business mindset to philanthropy by Georgina Crouth at IOL Business Report.