Today more than ever, philanthropy is playing a powerful role when it comes to improving the health and well-being of millions of people. Everywhere humanity faces problems — from various chronic health conditions, terminal illnesses, to environmental and basic survival issues — philanthropy is there at some capacity, showing up as one of our greatest weapons in terms of fueling research and providing solutions.
As it turns out, government resources can only go so far, which is why individuals and companies in the private sector are stepping up. The truth is, the resources and commitment level available from individuals and businesses are ultimately longer lasting and more substantial when it comes to stomping out various challenges.
Why Philanthropy is Taking Over from Government-Funded Efforts
Although government-funded research and assistance efforts are noble and will (and should) continue, the problem with such support is that it tends to be erratic and even misguided at times. This is because politics is driven by shifting tides; in the political world, the emphasis can quickly shift to more perceivably immediate threats or “causes of the week,” creating an environment in which steady, quiet, and often unfashionable work does not necessarily thrive.
Meanwhile, government is bureaucratic by nature, which can lead to red tape and other forms of inefficiency. Foundations, on the other hand, can have the luxury of being streamlined and direct in tackling their pursuits. Let’s look at some foundation benefits one by one:
Focus: Because foundations are built with the goal of addressing a specific need, the entire effort is dedicated to the solution. However, Government-driven efforts are often subject to budget concerns and an ever-shifting policy landscape.
Agenda: A foundation does more than just collect money for a cause; it sets an agenda which unites its workers and allies, raising awareness and ensuring that funds go where they need to. When everyone in the foundation is unified by a clear agenda, far fewer distractions can emerge.
Accountability: Because the focus of the foundation’s efforts is on the cause itself, accountability becomes a natural offshoot of the foundation’s core efforts. The reputation of the foundation rests on how it spends the money it receives. In general, the foundation functions with the knowledge that a high percentage of all donated funds should go directly to the cause itself, while a small portion should be used to hire adequate administration to oversee the collection and distribution process.
Over the past several years, the growth of established foundations along with the appearance of new ones dedicated to important causes have made a real difference. In the medical sector, for one, such foundations’ efficiency, dedication, and considerable focus is paying dividends when it comes to research and treatment advancement.
In the art of clinching better and longer-lasting results for humanity, foundations are presently hard at work making no end of effective gains and paving the road to the future.