Entrepreneurial Philanthropy: An Exploratory Review

Abstract

The state and the philanthropy sector both serve the public good. The state offers social services, develops social programs, and funds projects; the philanthropy sector contributes by giving time and money. The market, the business community, being the third actor, frequently will not easily see social issues in line with its own interests and in general will not create any solutions. In the late 20th century, however, a market approach of philanthropy, described here as “entrepreneurial philanthropy,” occurred. It performs under different titles, from “venture philanthropy” to “philanthro-capitalism”. This article offers an introduction to the concept of entrepreneurial philanthropy and its features. Where does it come from, what does it stand for, and what are the motives behind it? For non-profit organizations, there will be a challenge in trusting that entrepreneurial philanthropy will serve them well. Therefore possible consequences of this business appearance within the philanthropic domain will be considered.

TOPICS: Wealth management, legal/regulatory/public policy