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78-419: A philanthropist is a person who actively promotes human welfare; a person who practices philanthropy. Philanthropist may also refer to: Philanthropy The word philanthropy comes from Ancient Greek φιλανθρωπία (philanthrōpía)  'love of humanity ', from philo- 'to love, be fond of' and anthrōpos 'humankind, mankind'. In the second century  CE , Plutarch used

156-884: A compromise between the Christian Democrats and the Socialists to help promote uniform treatment and equal outcomes. The success in Italy became a model for Ford programs and many other nations. The Ford Foundation in the 1950s wanted to modernize the legal systems in India and Africa , by promoting the American model. The plan failed, because of India's unique legal history, traditions, and profession , as well as its economic and political conditions. Ford, therefore, turned to agricultural reform. The success rate in Africa

234-520: A local currency that is pegged to the U.S. dollar or the New Zealand dollar . The Sovereign Base Areas of Akrotiri and Dhekelia (in Cyprus ) use the euro. Since decimalisation on Decimal Day in 1971, the pound has been divided into 100 pence (denoted on coinage, until 1981, as "new pence"). The symbol for the penny is "p"; hence an amount such as 50p (£0.50) properly pronounced "fifty pence"

312-448: A means to alleviate human suffering and advance the quality of life. There are many forms of philanthropy, allowing for different impacts by different groups in different settings. Celebrity philanthropy refers to celebrity -affiliated charitable and philanthropic activities. It is a scholarship topic in studies of "the popular" vis-à-vis the modern and post-modern world. Structured and systematised charitable giving by celebrities

390-404: A model for others, especially regarding the welfare state . The princes and the various imperial states continued traditional efforts, funding monumental buildings, parks, and art collections. Starting in the early 19th century, the rapidly emerging middle classes made local philanthropy a way to establish their legitimate role in shaping society, pursuing ends different from the aristocracy and

468-592: A monopoly of specialized microbiological knowledge, allowing it to raise money for serum production from private and public sources, walking the line between a commercial pharmaceutical venture and a philanthropic enterprise. By 1933, at the depth of the Great Depression , the French wanted a welfare state to relieve distress but did not want new taxes. War veterans devised a solution: the new national lottery proved highly popular to gamblers while generating

546-399: A penny", "two and a penny", etc. 5 shillings, for example, was written as "5 s ." or, more commonly, "5/–" (five shillings, no pence). Various coin denominations had, and in some cases continue to have, special names, such as florin (2/–), crown (5/–), half crown (2/6 d ), farthing ( 1 ⁄ 4 d ), sovereign (£1) and guinea (21s, 21/–, £1–1–0 or £1.05 in decimal notation). By

624-538: A royal charter to establish the Foundling Hospital to look after these unwanted orphans in Lamb's Conduit Fields, Bloomsbury . This was "the first children's charity in the country, and one that 'set the pattern for incorporated associational charities' in general." The hospital "marked the first great milestone in the creation of these new-style charities." Jonas Hanway , another notable philanthropist of

702-567: A tool to sustain economic and firm growth, based on human capital theory . Through education, specific skills are taught that enhance people's capacity to learn and their productivity at work. Intel invests in science, technology, engineering, and mathematics (STEM) curricular standards in the US and provides learning resources and materials for schools, for its innovation and revenue. The New Employment Opportunities initiative in Latin America

780-501: A wide range of religious and secular goals, with the American import, YMCA , as one of the largest, and many small ones, such as the Metropolitan Drinking Fountain Association. In addition to making annual donations, increasingly wealthy industrialists and financiers left generous sums in their wills. A sample of 466 wills in the 1890s revealed a total wealth of £76 million, of which £20 million

858-459: Is a regional collaboration to train one million youth by 2022 to raise employment standards and ultimately provide a talented pool of labour for companies. Philanthropy has the potential to foster equity and inclusivity in various fields, such as scientific research, development, and healthcare. Addressing systemic inequalities in these sectors can lead to more diverse perspectives, innovations, and better overall outcomes. Scholars have examined

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936-537: Is a relatively new phenomenon. Although charity and fame are associated historically, it was only in the 1990s that entertainment and sports celebrities from affluent western societies became involved with a particular type of philanthropy. Celebrity philanthropy in contemporary western societies is not isolated to large one-off monetary donations. It involves celebrities using their publicity, brand credibility, and personal wealth to promote not-for-profit organisations , which are increasingly business-like in form. This

1014-732: Is now mandated, with 2% of net profits to be directed towards charity. Asia is home to most of the world's billionaires, surpassing the United States and Europe in 2017. Misplaced Pages's list of countries by number of billionaires shows four Asian economies in the top ten: 495 in China, 169 in India, 66 in Hong Kong, and 52 in Taiwan (as of April 2023 ). While the region's philanthropy practices are relatively under-researched compared to those of

1092-417: Is often pronounced "fifty pee" /fɪfti piː/. The old sign d was not reused for the new penny in order to avoid confusion between the two units. A decimal halfpenny ( ⁠ 1 / 2 ⁠ p, worth 1.2 old pennies) was issued until 1984 but was withdrawn due to inflation . Before decimalisation in 1971 , the pound was divided into 20 shillings , and each shilling into 12 pence , making 240 pence to

1170-652: Is sometimes termed as "celanthropy"—the fusion of celebrity and cause as a representation of what the organisation advocates. Pound sterling King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee Sterling ( ISO code : GBP )

1248-615: Is the central bank for sterling, issuing its own banknotes and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issued by other jurisdictions are not regulated by the Bank of England; their governments guarantee convertibility at par . Historically, sterling was also used to varying degrees by the colonies and territories of the British Empire . There are various theories regarding

1326-578: Is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £ ) is the main unit of sterling, and the word pound is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling . Sterling is the world's oldest currency in continuous use since its inception. In 2022, it

1404-521: Is usually short-term, where organizations obtain resources for causes through fund-raising and one-off donations. The Rockefeller Foundation and the Ford Foundation are examples of such; they focus more on financial contributions to social causes and less on actions and processes of benevolence. Impact investment, on the other hand, focuses on the interaction between individual wellbeing and broader society by promoting sustainability . Stressing

1482-539: The Aristotelian conception of virtue as consciously instilled habits of good behaviour. Samuel Johnson simply defined philanthropy as "love of mankind; good nature". This definition still survives today and is often cited more gender-neutrally as the "love of humanity." In London, prior to the 18th century, parochial and civic charities were typically established by bequests and operated by local church parishes (such as St Dionis Backchurch ) or guilds (such as

1560-650: The Carpenters' Company) . During the 18th century, however, "a more activist and explicitly Protestant tradition of direct charitable engagement during life" took hold, exemplified by the creation of the Society for the Promotion of Christian Knowledge and Societies for the Reformation of Manners . In 1739, Thomas Coram , appalled by the number of abandoned children living on the streets of London, received

1638-732: The Davis Center for Russian and Eurasian Studies ), the Brookings Institution and the Sesame Workshop . In all, Andrew Carnegie gave away 90% of his fortune. Other prominent American philanthropists of the early 20th century included John D. Rockefeller (1839–1937), Julius Rosenwald (1862–1932) and Margaret Olivia Slocum Sage (1828–1918). Rockefeller retired from business in the 1890s; he and his son John D. Rockefeller Jr. (1874–1960) made large-scale national philanthropy systematic, especially with regard to

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1716-681: The Green Revolution , whereby poor nations dramatically increased their output of rice, wheat, and other foods. Both Ford and Rockefeller were heavily involved. Ford also gave heavily to build up research universities in Europe and worldwide. For example, in Italy in 1950, sent a team to help the Italian ministry of education reform the nation's school system, based on meritocracy (rather than political or family patronage) and democratisation (with universal access to secondary schools). It reached

1794-809: The Guinness Trust . The principle of philanthropic intention with capitalist return was given the label "five per cent philanthropy." In 1863, the Swiss businessman Henry Dunant used his fortune to fund the Geneva Society for Public Welfare, which became the International Committee of the Red Cross . During the Franco-Prussian War of 1870, Dunant personally led Red Cross delegations that treated soldiers. He shared

1872-609: The Nazi regime and other devastation by 1945, seriously undermined and weakened the opportunities for widespread philanthropy in Germany. The civil society so elaborately built up in the 19th century was dead by 1945. However, by the 1950s, as the " economic miracle " was restoring German prosperity, the old aristocracy was defunct, and middle-class philanthropy started to return to importance. The Commission for Relief in Belgium (CRB)

1950-620: The Rockefeller Foundation was opening offices in Europe. It launched medical and scientific projects in Britain, France, Germany, Spain, and elsewhere. It supported the health projects of the League of Nations . By the 1950s, it was investing heavily in the Green Revolution , especially the work by Norman Borlaug that enabled India, Mexico, and many poor countries to upgrade their agricultural productivity dramatically. With

2028-583: The UN Relief and Rehabilitation Administration (UNRRA) as the primary humanitarian agency after 1945. The French Red Cross played a minor role in the war with Germany (1870–71). After that, it became a major factor in shaping French civil society as a non-religious humanitarian organization. It was closely tied to the army's Service de Santé . By 1914 it operated one thousand local committees with 164,000 members, 21,500 trained nurses, and over 27 million French francs in assets. The Pasteur Institute had

2106-633: The University of Pennsylvania – as well as the American Philosophical Society (1743), to enable scientific researchers from all 13 colonies to communicate. By the 1820s, newly rich American businessmen were initiating philanthropic work, especially with respect to private colleges and hospitals. George Peabody (1795–1869) is the acknowledged father of modern philanthropy. A financier based in Baltimore and London , in

2184-574: The original idealism had eroded, so he advocated philanthropic benefaction as a way of life. Though his context was Christian, his idea was also characteristically American and explicitly Classical , on the threshold of the Enlightenment . Benjamin Franklin (1706–1790) was an activist and theorist of American philanthropy. He was much influenced by Daniel Defoe 's An Essay upon Projects (1697) and Cotton Mather 's Bonifacius: an essay upon

2262-615: The 1860s, he began to endow libraries and museums in the United States and also funded housing for poor people in London. His activities became a model for Andrew Carnegie and many others. Andrew Carnegie (1835–1919) was the most influential leader of philanthropy on a national (rather than local) scale. After selling his steel company in 1901 he devoted himself to establishing philanthropic organizations and to making direct contributions to many educational, cultural, and research institutions. He financed over 2,500 public libraries built across

2340-657: The 1950s, coins of Kings George III , George IV and William IV had disappeared from circulation, but coins (at least the penny) bearing the head of every British monarch from Queen Victoria onwards could be found in circulation. Silver coins were replaced by those in cupro-nickel in 1947, and by the 1960s the silver coins were rarely seen. Silver/cupro-nickel sixpences, shillings (from any period after 1816) and florins (2 shillings) remained legal tender after decimalisation (as 2½p, 5p and 10p respectively) until 1980, 1990 and 1993 respectively, but are now officially demonetised. The pound sterling emerged after

2418-469: The Bank of England has exclusively used the single bar variant since 1975. Historically, a simple capital L (in the historic black-letter typeface, L {\displaystyle {\mathfrak {L}}} ) placed before the numerals, or an italic l. after them, was used in newspapers, books and letters. The Royal Mint was still using this style of notation as late as 1939. The glyphs Ł and Ⱡ may occasionally be encountered. Use of

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2496-688: The Greek concept of philanthrôpía to describe superior human beings. During the Middle Ages , philanthrôpía was superseded in Europe by the Christian virtue of charity ( Latin : caritas ) in the sense of selfless love, valued for salvation and escape from purgatory . Thomas Aquinas held that "the habit of charity extends not only to the love of God, but also to the love of our neighbor". Sir Francis Bacon considered philanthrôpía to be synonymous with "goodness", correlated with

2574-457: The League's money was not frequently debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", which was contracted to "'sterling". The OED dismisses this theory as unlikely, since the stressed first syllable would not have been elided. Encyclopædia Britannica states that the (pre-Norman) Anglo-Saxon kingdoms had silver coins called sterlings and that

2652-505: The Roman libra , solidus , and denarius . Notable style guides recommend that the pound sign be used without any abbreviation or qualification to indicate sterling (e.g., £12,000). The ISO 4217 code "GBP" (e.g., GBP 12,000) may also be seen should disambiguation become necessary. The ISO 4217 currency code for sterling is "GBP", formed from the ISO 3166-1 alpha-2 code for

2730-437: The US and Europe, and do not have a public fundraising requirement. Public Ancillary Funds include community foundations, some corporate foundations, and foundations that solely support single organisations such as hospitals, schools, museums, and art galleries. They must raise funds from the general public. Traditional philanthropy and impact investment can be distinguished by how they serve society. Traditional philanthropy

2808-659: The United Kingdom ("GB") and the first letter of "pound". In historical sources and some specialist banking uses, the abbreviation stg (in various styles) has been used to indicate sterling. Many stocks on the London Stock Exchange are quoted in penny sterling, using the unofficial code "GBX". The exchange rate of sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets . The origins of this term are attributed to

2886-463: The United States and Europe, the Centre for Asian Philanthropy and Society (CAPS) produces a study of the sector every two years. In 2020, its research found that if Asia were to donate the equivalent of two percent of its GDP, the same as the United States, it would unleash US$ 507 billion ( HK$ 3.9 trillion) annually, more than 11 times the foreign aid flowing into the region every year and one-third of

2964-768: The United States and abroad. He also funded Carnegie Hall in New York City and the Peace Palace in the Netherlands. His final and largest project was the Carnegie Corporation of New York , founded in 1911 with a US$ 25 million endowment, later enlarged to US$ 135 million. Carnegie Corporation has endowed or otherwise helped to establish institutions that include the Russian Research Center at Harvard University (now known as

3042-503: The acquisition of most of the stock of the Ford Motor Company in the late 1940s, the Ford Foundation became the largest American philanthropy, splitting its activities between the United States and the rest of the world. Outside the United States, it established a network of human rights organizations, promoted democracy, gave large numbers of fellowships for young leaders to study in the United States, and invested heavily in

3120-601: The adoption of the Carolingian monetary system in England c.  800 . Here is a summary of changes to its value in terms of silver or gold until 1816. The pound was a unit of account in Anglo-Saxon England . By the ninth century it was equal to 240 silver pence . The accounting system of dividing one pound into twenty shillings , a shilling into twelve pence, and a penny into four farthings

3198-588: The annual amount needed globally to meet the sustainable development goals by 2030. Structured giving in Australia through foundations is slowly growing, although public data on the philanthropic sector is sparse. There is no public registry of philanthropic foundations as distinct from charities more generally. Two foundation types for which some data is available are Private Ancillary Funds (PAFs) and Public Ancillary Funds (PubAFs). Private Ancillary Funds have some similarities to private family foundations in

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3276-731: The campaign that succeeded in ending the slave trade throughout the Empire starting in 1807. Although there were no slaves allowed in Britain itself, many rich men owned sugar plantations in the West Indies, and resisted the movement to buy them out until it finally succeeded in 1833. Financial donations to organized charities became fashionable among the middle class in the 19th century. By 1869 there were over 200 London charities with an annual income, all together, of about £ 2 million. By 1885, rapid growth had produced over 1000 London charities, with an income of about £4.5 million. They included

3354-590: The cash needed without raising taxes. American money proved invaluable. The Rockefeller Foundation opened an office in Paris and helped design and fund France's modern public health system under the National Institute of Hygiene. It also set up schools to train physicians and nurses. The history of modern philanthropy on the European continent is especially important in the case of Germany, which became

3432-426: The common phrase "quids in"). Its origin is unknown: possible derivations include scudo , the name for a number of currency units used in Italy until the 19th century, introduced by Italian immigrants; or from Latin quid via the common phrase quid pro quo , literally, "what for what", or, figuratively, "An equal exchange or substitution". The term "nicker" (also both singular and plural) may also refer to

3510-468: The compound noun pound sterling was derived from a pound (weight) of these sterlings. The English word pound derives from the Latin expression lībra pondō , in which lībra is a noun meaning 'pound' and pondō is a noun, in the ablative case , meaning 'by weight'. The currency sign for the pound unit of sterling is £ , which (depending on typeface) may be drawn with one or two bars :

3588-500: The emerging popular press and were generally held in high social regard—some charities received state recognition in the form of the Royal Charter . Philanthropists, such as anti-slavery campaigner William Wilberforce , began to adopt active campaigning roles, where they would champion a cause and lobby the government for legislative change. This included organized campaigns against the ill-treatment of animals and children and

3666-425: The environment. As a result, development agencies have seen increased demands for accountability as they face greater pressure to fit with current developmental agendas. Philanthrocapitalism differs from traditional philanthropy in how it operates. Traditional philanthropy is about charity, mercy, and selfless devotion improving recipients' wellbeing. Philanthrocapitalism, is philanthropy transformed by business and

3744-527: The era, established The Marine Society in 1756 as the first seafarer's charity, in a bid to aid the recruitment of men to the navy . By 1763, the society had recruited over 10,000 men and it was incorporated in 1772. Hanway was also instrumental in establishing the Magdalen Hospital to rehabilitate prostitutes. These organizations were funded by subscriptions and run as voluntary associations. They raised public awareness of their activities through

3822-430: The fact that from the mid-19th century, the sterling/dollar exchange rate was transmitted via transatlantic cable. Historically almost every British coin had a widely recognised nickname, such as "tanner" for the sixpence and "bob" for the shilling . Since decimalisation these have mostly fallen out of use except as parts of proverbs. A common slang term for the pound unit is " quid " (singular and plural, except in

3900-647: The first Nobel Peace Prize for this work in 1901. The International Committee of the Red Cross (ICRC) played a major role in working with POWs on all sides in World War II . It was in a cash-starved position when the war began in 1939, but quickly mobilized its national offices to set up a Central Prisoner of War Agency. For example, it provided food, mail and assistance to 365,000 British and Commonwealth soldiers and civilians held captive. Suspicions, especially by London, of ICRC as too tolerant or even complicit with Nazi Germany led to its side-lining in favour of

3978-533: The food to Belgium and controlling it there. For example, the CRB shipped 697,116,000 pounds of flour to Belgium. Biographer George Nash finds that by the end of 1916, Hoover "stood preeminent in the greatest humanitarian undertaking the world had ever seen." Biographer William Leuchtenburg adds, "He had raised and spent millions of dollars, with trifling overhead and not a penny lost to fraud. At its peak, his organization fed nine million Belgians and French daily. When

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4056-556: The good (1710). Franklin attempted to motivate his fellow Philadelphians into projects for the betterment of the city: examples included the Library Company of Philadelphia (the first American subscription library), the fire department, the police force, street lighting, and a hospital. A world-class physicist himself, he promoted scientific organizations including the Philadelphia Academy (1751) – which became

4134-461: The housing conditions of the working classes by building new homes for them, while at the same time receiving a competitive rate of return on any investment. This was one of the first housing associations , a philanthropic endeavor that flourished in the second half of the nineteenth century, brought about by the growth of the middle class . Later associations included the Peabody Trust , and

4212-470: The impact of charitable giving to the poor. Many of the charities were designed to alleviate the harsh living conditions in the slums. such as the Labourer's Friend Society founded in 1830. This included the promotion of allotment of land to labourers for "cottage husbandry" that later became the allotment movement. In 1844 it became the first Model Dwellings Company —an organization that sought to improve

4290-593: The importance of impact and change, they invest in different sectors of society, including housing, infrastructure, healthcare and energy. A suggested explanation for the preference for impact investment philanthropy to traditional philanthropy is the gaining prominence of the Sustainable Development Goals (SDGs) since 2015. Almost every SDG is linked to environmental protection and sustainability because of rising concerns about how globalisation , consumerism , and population growth may affect

4368-425: The importance of philanthropic support in promoting equity in different areas. For example, Christopherson et al. highlight the need to prioritize underrepresented groups, promote equitable partnerships, and advocate for diverse leadership within the scientific community . In the healthcare sector, Thompson et al. emphasize the role of philanthropy in empowering communities to reduce health disparities and address

4446-491: The letter ⟨L⟩ for pound derives from medieval Latin documents: "L" was the abbreviation for libra , the Roman pound (weight), which in time became an English unit of weight defined as the tower pound . A "pound sterling" was literally a tower pound (weight) of sterling silver . In the British pre-decimal ( duodecimal ) currency system, the term £sd (or Lsd) for pounds, shillings and pence referred to

4524-467: The market, where profit-oriented business models are designed that work for the good of humanity. Share value companies are an example. They help develop and deliver curricula in education, strengthen their own businesses and improve the job prospects of people. Firms improve social outcomes, but while they do so, they also benefit themselves. The rise of philanthrocapitalism can be attributed to global capitalism . Therefore, philanthropy has been seen as

4602-481: The military. They concentrated on support for social welfare , higher education , and cultural institutions, as well as working to alleviate the hardships brought on by rapid industrialization . The bourgeoisie (upper-middle class) was defeated in its effort to gain political control in 1848 , but it still had enough money and organizational skills that could be employed through philanthropic agencies to provide an alternative power base for its worldview. Religion

4680-597: The origin of the word "sterling". The Oxford English Dictionary states that the "most plausible" etymology is a derivation from the Old English steorra for "star" with the added diminutive suffix -ling , to yield "little star". The reference is to the silver penny used in Norman England in the twelfth century, which bore a small star. Another theory holds that the Hanseatic League

4758-399: The political threat posed by the socialistic labor unions . The middle classes, however, made the most use of the new welfare state, in terms of heavy use of museums, gymnasiums (high schools), universities, scholarships, and hospitals. For example, state funding for universities and gymnasiums covered only a fraction of the cost; private philanthropy became essential. 19th-century Germany

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4836-554: The pound. The currency of all the Crown Dependencies ( Guernsey , Jersey , Isle of Man ) and a third of British Overseas Territories ( British Antarctic Territory ; Falkland Islands and South Georgia and the South Sandwich Islands ; Gibraltar ; and Saint Helena, Ascension and Tristan da Cunha ) is either sterling or pegged to sterling at par. The other British Overseas Territories have

4914-549: The pound. The symbol for the shilling was " s ." – not from the first letter of "shilling", but from the Latin solidus . The symbol for the penny was " d .", from the French denier , from the Latin denarius (the solidus and denarius were Roman coins). A mixed sum of shillings and pence, such as 3 shillings and 6 pence, was written as "3/6" or "3 s . 6 d ." and spoken as "three and six" or "three and sixpence" except for "1/1", "2/1" etc., which were spoken as "one and

4992-513: The reign of King Offa of Mercia (757–796), who introduced a "sterling" coin made by physically dividing a Tower pound (5,400 grains, 349.9 grams) of silver into 240 parts. In practice, the weights of the coins were not consistent, 240 of them seldom added up to a full pound; there were no shilling or pound coins and these units were used only as an accounting convenience . Halfpennies and farthings worth 1 ⁄ 2 and 1 ⁄ 4 penny respectively were also minted, but small change

5070-426: The religious groups used financial endowments, which multiplied in number and wealth as Germany grew richer. Each was devoted to a specific benefit to that religious community, and each had a board of trustees; laymen donated their time to public service. Chancellor Otto von Bismarck , an upper class Junker , used his state-sponsored philanthropy, in the form of his invention of the modern welfare state, to neutralize

5148-465: The root causes of these disparities. Research by Chandra et al. demonstrates the potential of strategic philanthropy to tackle health inequalities through initiatives that focus on prevention, early intervention, and building community capacity. Similarly, a report by the Bridgespan Group suggests that philanthropy can create systemic change by investing in long-term solutions that address

5226-434: The study and application of modern medicine, higher education, and scientific research. Of the US$ 530 million the elder Rockefeller gave away, US$ 450 million went to medicine. Their leading advisor Frederick Taylor Gates launched several large philanthropic projects staffed by experts who sought to address problems systematically at the roots rather than let the recipients deal only with their immediate concerns. By 1920,

5304-452: The underlying causes of social issues, including those related to science and health disparities. To advance equity in science and healthcare, philanthropists can adopt several key strategies: Through these approaches, philanthropy can significantly promote equity within scientific and health communities, leading to more inclusive and effective advancements. Philanthropy is defined differently by different groups of people; many define it as

5382-499: The war ended in late 1918, Hoover took control of the American Relief Administration (ARA), with the mission of food to Central and Eastern Europe. The ARA fed millions. U.S. government funding for the ARA expired in the summer of 1919, and Hoover transformed the ARA into a private organization, raising millions of dollars from private donors. Under the auspices of the ARA, the European Children's Fund fed millions of starving children. When attacked for distributing food to Russia, which

5460-406: Was adopted from the livre carolingienne system introduced by Charlemagne to the Frankish Empire . The penny was abbreviated to "d", from denarius , the Roman equivalent of the penny; the shilling to "s" from solidus (written with a long s , ſ , later evolving into a simple slash , / ); and the pound to "L" (subsequently £ ) from Libra or Livre . The origins of sterling lie in

5538-400: Was an international (predominantly American) organization that arranged for the supply of food to German-occupied Belgium and northern France during the First World War. It was led by Herbert Hoover . Between 1914 and 1919, the CRB operated entirely with voluntary efforts and was able to feed eleven million Belgians by raising money, obtaining voluntary contributions of money and food, shipping

5616-501: Was bequeathed to charities. By 1900 London charities enjoyed an annual income of about £8.5 million. Led by the energetic Lord Shaftesbury (1801–1885), philanthropists organized themselves. In 1869 they set up the Charity Organisation Society . It was a federation of district committees, one in each of the 42 Poor Law divisions. Its central office had experts in coordination and guidance, thereby maximizing

5694-633: Was divisive in Germany, as Protestants, Catholics, and Jews used alternative philanthropic strategies. The Catholics, for example, continued their medieval practice of using financial donations in their wills to lighten their punishment in purgatory after death. The Protestants did not believe in purgatory, but made a strong commitment to improving their communities there and then. Conservative Protestants raised concerns about deviant sexuality, alcoholism, and socialism, as well as illegitimate births. They used philanthropy to try to eradicate what they considered as "social evils" that were seen as utterly sinful. All

5772-530: Was even more oriented toward civic improvement than Britain or the United States, when measured in voluntary private funding for public purposes. Indeed, such German institutions as the kindergarten , the research university , and the welfare state became models copied by the Anglo-Saxons. The heavy human and economic losses of the First World War , the financial crises of the 1920s, as well as

5850-832: Was no better, and that program closed in 1977. While charity has a long history in Asia, as of 2018 philanthropy or a systematic approach to doing good remains nascent. Chinese philosopher Mozi ( c.  470  – c.  391 BCE ) developed the concept of "universal love" ( jiān'ài , 兼愛 ), a reaction against perceived over-attachment to family and clan structures within Confucianism . Other interpretations of Confucianism see concern for others as an extension of benevolence. Muslims in countries such as Indonesia are bound zakat (almsgiving), while Buddhists and Christians throughout Asia may participate in philanthropic activities. In India, corporate social responsibility (CSR)

5928-533: Was the fourth-most-traded currency in the foreign exchange market , after the United States dollar , the euro , and the Japanese yen . Together with those three currencies and the renminbi , it forms the basket of currencies that calculate the value of IMF special drawing rights . As of late 2022, sterling is also the fourth most-held reserve currency in global reserves . The Bank of England

6006-576: Was the origin of its definition, manufacture, and name: the German name for the Baltic is Ostsee ( ' East Sea ' ) and from this the Baltic merchants were called Osterlings ( ' Easterlings ' ). In 1260, Henry III granted them a charter of protection and land for their kontor , the Steelyard of London , which by the 1340s was also called Esterlingeshalle ( ' Easterlings Hall ' ). Because

6084-572: Was under Bolshevik control, Hoover snapped, "Twenty million people are starving. Whatever their politics, they shall be fed!" The first corporation founded in the Thirteen Colonies was Harvard College (1636), designed primarily to train young men for the clergy. A leading theorist was the Puritan theologian Cotton Mather (1662–1728), who in 1710 published a widely read essay, "Bonifacius, or an Essay to Do Good". Mather worried that

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