Giving is an investment

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Many people believe that money is the root of all evil because it tests the limits of humanity. However, money is just a tool, and in the right hands, it can be a source of hope—an investment to a better future.

This thought might be what runs in the minds of those who have given away a significant portion of their hard-earned money to different causes, from saving rainforests to fighting drug abuse. These people view money as more than just a means for them to enjoy the good life. To them, it is a tool for making a difference by investing on relevant causes and leaving a legacy of hope for the betterment of their fellow men.

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Many people believe that the rich only give so that people will remember them. And while it is true that some give to charities or do volunteer work so they could be noticed, many have shunned the spotlight, preferring to remain unnoticed. Chuck Feeney, an Italian-American billionaire, is one such person. He spent the last 30 years giving away over $7 billion that he amassed from selling liquor, perfumes, and cigarettes in his empire of duty-free shops. His donations are aimed to support different causes in education, science, health care, aging, and civil rights in many countries around the world.

Mr. Feeney is a shining example than many young philanthropists should aspire to become. Giving should not only be seen as charity but also as an investment toward a bright future for all of humanity.

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Alex von Furstenberg is a member of the board of directors of the Diller-von Furstenberg Family Foundation, an organization that aims to positively impact the world by improving people’s lives and strengthening communities. You can visit this website to learn more.

Philanthropy: It's not all about the money

People who view philanthropy as a financial baggage or a last option for a wealth strategy could see this as a strain on their pockets. But for those inclined to charitable giving, philanthropy could mean more than an optional responsibility reserved for excess wealth and unwanted assets. However, by developing a systematic strategy that is integrated with personal and wealth transfer goals, giving could lead to a purposeful endeavor that is not focused on the idea of giving money.

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This is what philanthropy means for The Naples Trust Company. It is committed to using philanthropy not just as a means of donating money but as a way to solve problems in the society. For the past decade, the company has dedicated over $1 million to nonprofit organizations to make a difference in its community.

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Similarly, The Diller – von Furstenberg Family Foundation, headed by Alex von Furstenberg, addresses generosity as a gratifying feat. The organization is guided by the shared values, concerns, and passions of its members. Its main vision is to improve people’s lives and strengthen communities. Community building, education, human rights, arts, health, and the environment are the primary sectors that receive the foundation’s support.

In philanthropic acts, money can never be ignored when measuring its depth, but the effect always comes in boundless possibilities.

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Businessman Alex von Furstenberg is actively involved in a variety of philanthropic work. Among the organizations he supports are the Alliance for Young Artists & Writers, Literacy Partners, and Big Brothers/Big Sisters of America. This Twitter page provides more updates about him and his contributions to help others in need.

Self-fulfillment: Why the rich really give

In a time filled with news about an unstable economy, unemployment, and terrorism, it is refreshing to see the following headlines: “Alex von Furstenberg supports American Tall Ship Institute,” “Warren Buffett and Bill Gates' ‘giving pledge’ gets 11 more billionaires to pledge half of wealth,” and “Former NFL team owner champions controversial causes.” Such good news reminds people that there is still something good happening amidst the chaos, and this includes the wealthy helping the less fortunate.

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But why do the rich support charity? The Wall Street Journal states that the rich may have an altogether different reason behind why they give.

A philanthropy study conducted by the Center on Philanthropy and Bank of America found that 46 percent of respondents said that giving to charitable institutions had a “greater impact on their own personal fulfillment” than on those who received the donations; only 20 percent believe that their contributions make a major impact on organizations they support, and only 6 percent believe that their contributions are going to help improve society.

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To make things simple, these people actually do not believe that their contributions will make a significant impact to the world; however, they still continue with their philanthropic efforts because it makes them feel good. The article notes that philanthropists are aware that “changing the world through charity can often be an illusion since the problems they’re trying to solve are so vast and complex” but they “feel better for trying, and charity makes them better people.”

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The Diller-von Furstenberg Family Foundation (DVFF) serves as the headquarters for Alex von Furstenberg’s philanthropic efforts. Visit this website for a list of the organizations DVFF supports.