Building better cities

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It is commonly perceived that there is a wide gap between the rich and poor and that they do not share the same aspirations. But this notion is a far cry from what philanthropists do for the less fortunate. For the few who are blessed, their wealth provides the best avenue to create difference in society and help others who were born unlucky. Blessed as they are, the likes of the Rockefellers and the von Furstenbergs are reaching out their hands to those who need help.

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For the fortunate few, most funnel their wealth and money on improving education, health, communities, and the arts. The Rockefellers, the oil magnates, have been in the field of philanthropy since the 18th century. While oil magnate John Davison Rockefeller, who revolutionized modern philanthropy, has already passed away, his family’s efforts are continually felt through the Rockefeller Brothers Fund.

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The von Furstenbergs are also noted for their philanthropy. Alex von Furstenberg, the director and secretary of The Diller-von Furstenberg Family Foundation, is one of the fortunate few who share their blessings with others. While he is of royal blood, he has made a name for himself in the field of finance and continues to support various organizations, including Friends of the Highline, City-meals on Wheels, and The Fortune Society.  

Know more about philanthropy here.

Curing the illiteracy syndrome ... One. Word. At. A. Time.

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As of this writing, millions of people in America can’t even read this sentence to save their lives.

Such is the demon of literacy that it deprives so much for so little. Without the minimum required literacy skills, fluid navigation through society and upward social movement are close to impossible. The statistics, however, is staggering. There are approximately 93 million American adults with basic or below-basic literacy. Of these, 30 million are functionally illiterate and about 63 million below the 5th grade literacy level cannot even understand a basic newspaper. As if these aren’t enough drawbacks, it is also worth noting that the low literacy level is costing the government about $200 billion each year—a cumbersome price to pay for a completely remediable situation.

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Amidst these depressing realities, one fact raises hopes:

Every dollar spent on adult illiteracy yields $7.14 in societal returns — whether through increased revenues or decreased expenditures.

With these premise, many philanthropists have opted to invest on building the country’s literacy. Many individuals, such as John Wood and Alex von Furstenberg, and corporations, like JP Morgan Chase and Bloomberg, have tried contributing to the pitch in efforts to finally put an end to illiteracy.

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The fight against illiteracy is not just a case of being able to rise past the “no read, no write” status, but of breaking free from the bondage of ignorance and being able to live life to the fullest.

Business maven Alex von Furstenberg is a philanthropist who backs over 60 charitable institutions. Learn more about his philanthropic endeavors by logging on to AlexVonFurstenberg.com.

Corporate philanthropy: The benefits of giving back

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There are many companies that sponsor charitable causes, but what drives them to do so? Does sponsoring charitable causes really benefit companies as well?

Investing in philanthropic efforts may sound like a waste of company budget, but many businessmen, such as Alex von Furstenberg, believe that it is a worthwhile cause and that getting involved in charity work does not only make employees feel better, but also allows the company to build personal connections with them.

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These personal connections are important in building employee loyalty and productivity. By being involved in philanthropy, the company shows that it cares about other people. This is especially important in larger companies, where most employees are more likely to feel that they are just looked upon as workers instead of as actual human beings—these are the people who earn a lot and like their job but dislike the way their company treats them.

Business philanthropy can also be beneficial to a company’s bottom line. Customers are more likely to buy from a company that supports a charitable organization, increasing brand loyalty. Helping out a cause also enhances a company’s credibility and image, and promotes and educates the public about its products and services, creating product awareness and visibility, therefore increasing sales.

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Visit the Diller-von Furstenberg Family Foundation website for more details.