Philanthropy is greatly rewarding and can be a lot of fun. But how do you turn good intentions into a lasting change?

Why give? There are many reasons, ranging from wealth and tax planning, to brand building, to much more personal motivations, that people may decide to get involved in philanthropy.

Philanthropy is now in vogue, widely celebrated, and adopted as a worthy lifestyle choice amongst the wealthy. We know that philanthropy is on the rise, too. According to the Coutts Million Dollar Donors Report $56bn donations of more than $1m were made in 2015 — a significant rise from the previous year.

Tips for new philanthropists: 

Understand the change you want to see — try to think strategically.

  • Avoid duplication — there are already 160,000 charities in the UK, so be brutally honest about whether you have something new to offer by setting up a new initiative or charitable foundation.
  • Acknowledge what you don’t know — get informed. Meet people and organisations. Understand the issues in which you are interested. And don’t expect to go it alone.
  • Just make a start! — have a go in one area of interest. Make smaller and simpler contributions initially until you are more comfortable with the process.

One of the best reasons to give is that the world needs it. Philanthropy has often played a hugely important role in the development of just, democratic societies. Now more than ever — with such global and complex challenges as global under-nutrition, gender inequality, climate change and the refugee crisis — philanthropy has a very important role to play.

Read the full article about tips for a philanthropist by Juliet Cockram Agnew at Medium.