Private philanthropy is a critical part of social development and individuals making donations for a cause should be made to feel associated with the growth process, according to experts.
Personal philanthropy can be leveraged better through partnerships, they said.
Noted cardiac surgeon Ramakanta Panda of the Asian Heart Institute said personal philanthropy is a critical part of social development.
“Most people I know donate to a cause they believe in. They donate however much they can and make a difference locally. Also, donating to a poor child’s surgery has immediate results and immediate satisfaction, so the donor also feels fulfilled,” he said.
Rajiv Mehta, trustee of the Ratna Nidhi Charitable Trust, said the key to further enhancing funding from private individuals is to make every donor feel a part of the process.
“The winds of change have been blowing in the Indian development sector for a while. Bain and Companys 2017 report states that philanthropic funding from private individuals increased six-fold – from Rs 6,000 crore in 2011 to Rs 36,000 crore in 2016.
“The rapid growth of philanthropy from individuals bodes well for the sustained growth of development reaching the grassroots of the country,” Mehta said in a statement.
Mehta said the real winner for philanthropy is that everyone wants to give and feel good about giving.
Karon Shaiva, organiser of the `RISE Summit 2017 organised earlier this week, said personal philanthropy can be leveraged better through partnerships.
The summit, held recently, deliberated on building partnerships among stakeholders to boost social development through CSR activities.
Shaiva said, “There’s a giver and a doer, and both have a role because India’s democracy continues to deliver uneven outcomes. This should make all thinking Indians critically reflect upon the content of our democracy and leverage personal philanthropy.”