What Is a Philanthropist?
Philanthropy is the act of using one’s resources – often time, money, or expertise – to help others and improve society. The word itself comes from ancient Greek, meaning “love of humanity.” Historically, philanthropy has been associated with wealthy individuals funding schools, libraries, and hospitals. Today, however, philanthropy has expanded to include any person who donates or contributes meaningfully to causes that promote the common good.
At its heart, philanthropy is about impact. Whether you’re donating $10 or $10,000, volunteering, or championing causes online, every action contributes to a ripple effect of help, hope, and change.
Defining a philanthropist
A philanthropist is someone who intentionally dedicates resources – financial or otherwise – to support the well-being of others. This can be on a large scale, like funding public health programs, or on a local level, like donating to a neighborhood food pantry or a teacher’s classroom needs.
While generosity is a key trait, being a philanthropist goes beyond making one-off donations. It involves:
- Altruism: A genuine desire to help others without expecting anything in return
- Social responsibility: A belief in the importance of contributing to a better society
- Intentionality: Strategic planning and thoughtfulness in giving decisions
And thanks to new tools like GoFundMe Giving Funds, it’s easier than ever for everyday individuals to organize their charitable efforts and become philanthropists themselves.
Types of philanthropists
Philanthropy is deeply personal. People give in different ways, depending on their values, resources, and life experiences. Here are some common types:
Individual philanthropists
Many individuals set aside part of their income for giving. Some leave legacies through wills or set up charitable trusts. With a DAF like GoFundMe Giving Funds, they can now centralize, track, and invest their charitable dollars for greater impact, individually or together as a family.
Corporate philanthropy
Companies large and small increasingly see giving back as part of their mission. Whether through matching employee donations, sponsoring events, or supporting local causes, corporate philanthropy plays a vital role in community development.
Family philanthropy
Families often give together, guided by shared values. Some formalize this through foundations, while others use tools like donor-advised funds to set aside money for future giving – an approach that enables intergenerational impact and teaches children the value of helping others.
Community philanthropy
Local groups pooling resources for a shared goal is one of the oldest forms of philanthropy. Giving circles, community funds, and mutual aid efforts often fill gaps where traditional funding falls short.
Philanthropy and wealth
While wealth can amplify philanthropy, it’s not a prerequisite. Large gifts make headlines, but consistent, thoughtful giving from everyday people is what truly powers change.
Still, wealth does enable unique opportunities, such as:
- Funding large-scale initiatives
- Creating legacy gifts
- Joining initiatives like The Giving Pledge, where billionaires commit to giving away the majority of their wealth
But even without millions, tools like GoFundMe Giving Funds democratize these opportunities. With no minimum contribution and donation capabilities starting at $5, anyone can build a giving legacy – no billionaire status required.
Philanthropy skills and impact
Being a successful philanthropist isn’t just about giving – it’s about giving well. That requires:
- Planning: Budgeting for giving, setting goals, and aligning donations with your values
- Transparency: Keeping track of donations and ensuring accountability
- Strategic thinking: Focusing on high-impact causes and solutions, not just symptoms
GoFundMe Giving Funds support all of this by letting you manage your charitable giving in one place. You can set aside funds, invest them to grow your giving power, and discover timely, verified causes.
How to become a philanthropist
Philanthropists today have more options than ever to make a meaningful impact. Here are some of the most powerful tools available:
Donor-advised funds (DAFs)
DAFs are personal charitable giving accounts where you can contribute funds, receive an immediate tax deduction, and distribute donations over time. GoFundMe Giving Funds enable individuals to create and manage their own donor-advised fund – making strategic giving accessible, even for new or smaller donors.
With GoFundMe Giving Funds, you can:
- Make single or multiple tax-deductible contributions
- Invest your giving balance to potentially grow your impact tax-free
- Support verified nonprofits
- Track your giving history and receive one simple tax receipt
This level of flexibility, visibility, and emotional connection is rarely available through traditional DAF providers.
Charitable organizations and foundations
These are the backbone of philanthropic work, delivering services, advocating for change, and providing infrastructure. GoFundMe Giving Funds partner with thousands of these organizations to help donors find causes that matter to them.
Venture philanthropy and giving circles
These are newer models of philanthropy focused on impact-first funding, often borrowing techniques from the startup world. Giving circles, in particular, empower communities to pool resources and give collectively – something that GoFundMe Giving Funds are uniquely built to support.
Philanthropy and tax benefits
One reason DAFs have grown in popularity is because they offer a way to maximize tax benefits while increasing philanthropic power. Key tax advantages include:
- Immediate tax deduction: Donors receive a deduction in the year they contribute to their fund, even if the money is distributed later
- Tax-free potential growth: Contributions can be invested and potentially grow tax-free
- Simplified tax reporting: Instead of tracking dozens of receipts, you get one consolidated tax receipt.
Philanthropy is for everyone
Being a philanthropist isn’t about how much you give. It’s about how intentionally and impactfully you give.
Whether you’re reacting to a crisis, investing in long-term social change, or looking for a better way to organize your charitable life, GoFundMe Giving Funds provide an easy, powerful, and trusted way to make your generosity go further. You don’t need a financial advisor or a foundation team—you just need the desire to help, and a tool that makes it possible.
With GoFundMe Giving Funds, you can:
- Support verified charitable organizations
- Discover timely, high-impact causes
- Set aside and grow charitable dollars tax-free
- Share giving moments with friends, family, and community
Start your journey to becoming a philanthropist today.