If you believe that philanthropists in the UK just throw money at any organisation that makes them look good, you would be wrong. Many of the top philanthropists in the UK are incredibly organised and do a lot of research before they even think about spending a penny. Sure, they might have teams of people doing this research for them, but they won’t give without careful consideration.
Organising giving might sound a bit odd, but it is something that is done. In this article, we are going to look at this a bit more closely. Read on to find out more.
Choosing Passions
Philanthropy isn’t just about giving to the cause that is talked about the most. Sure, many philanthropists give to big causes but usually, they will organise their giving to include something that they are passionate about. So, they will think of a few causes close to them or some that stand out. Then, they will weigh these against what is most important and what they can do to help to make the right decision.
Setting Goals
Philanthropy is slightly different to charity in a sense as it involves sustainable giving, rather than just offering a large sum of money at a time of need. So, many philanthropists take time to set goals in order to determine what their giving will achieve. Tej Kohli is amongst many great UK philanthropists such as George Weston and Peter Cruddas who set goals and are achieving them. Some of his goals include ending holiday hunger and curing corneal blindness.
Setting Up Foundations
Often, in order to achieve the goals, they have set out, UK philanthropists set up foundations. This allows them to allocate the funds that they give and raise in whatever way they want. Some charities and foundations use funds in ways that the public isn’t always comfortable with but with a charitable foundation, philanthropists can make their own calls. This is becoming increasingly common and works to organise the giving.
Annual Reviews
Finally, you’ll find that philanthropists in the UK organise their giving by holding annual reviews to look at what their giving has achieved. If they find that the funds are not going to the right places and that they are not being used correctly, they might change their strategy in the next year. This is something that business owners do all the time so it comes as no surprise that they would approach philanthropy in the same way. Without the annual reviews, the giving might not be as effective in the coming years.
Conclusion
As you can see, there is a lot of organisation that goes into becoming a philanthropist and making sure that the funds are going to the right places. For those in the UK who are giving to great causes and helping out communities, careful consideration needs to be made. Make sure to check out some of the leading UK philanthropists and learn more about their causes close to their hearts.
