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Charitable giving is up, year over year, both among the general populace and in business donations, and it’s not hard to see why:
1. Elon Musk models the new wave of business philanthropy through investment in for-profit as well as non-profit initiatives that take into account social and environmental well-being.
2. Mark Zuckerberg and Priscilla Chan also opted to invest in philanthropy through a for-profit corporate structure.
3. The Karen and Charles Phillips Charitable Organization takes the approach of erasing overhead costs to maximize the support they can offer.
4. Elon Musk’s various investments and donations model another successful principle in business philanthropy, an avenue to test new ideas, principles and initiatives that have the potential to benefit both the marketplace and philanthropic goals.
5. Finally, in another Facebook-related case, Dustin Moskovitz and Cari Tuna model the principal of Effective Altruism, which can be described as evidence-based philanthropic investment.
Business leaders have shown great innovation, determination and skill in applying their professional acumen and the weight of organizations to philanthropic causes – with significant benefit to everyone involved. Such involvement and investment, whether it’s a corporate mission oriented toward human well-being, or a dedicated charitable allocation, consistently reflects back positively on both the donor companies, and the leaders behind the initiatives, explaining in part why corporate philanthropy has grown to hundreds of billions of dollars in the United States alone, and continues to grow.