Philanthropy can fill gaps and flow quickly to less popular or neglected areas, test and innovate new ideas, build evidence and influence policymakers. It can also act swiftly in an emergency and support organisations or ecosystems that need traditional investment or large-scale funding, but which are currently unattractive to other funders.

The benefits of charity are usually immediate – relief for the receiver and tangible for the donor – while the benefits of philanthropy, which include promoting social change, improving the quality of life, and creating a more just and equitable society, are seen as a form of social investment for the long term.

In pursuit of the United Nations’ Global Goals, philanthropy complements government spending and foreign aid to fund the projects that expand access to water, improve food security, ensure girls can go to school, and so much more.

Being philanthropic develops empathy and broadens our perspectives of the world. It can provide a sense of purpose or meaning and often increases a person’s happiness and sense of optimism.