Word: Philanthropy.

Philanthropy involves the donation or granting of money to various worthy charitable causes. It is seen as a way to directly effect change in society without recourse to the bureaucratic mechanisms of government. Someone who practices philanthropy is known as a philanthropist. Philanthropy is a major source of income for artistic, musical, religious, and humanitarian causes.

Example of usage: Bill & Melinda Gates Foundation is the world’s largest philanthropy, with an endowment of $29.1 billion (euro23.05 billion). This in turn makes the couple the world’s kindess philanthropists.

A philanthropist is someone who devotes his or her time, money, or effort towards helping others. The label is most often applied to someone who gives large amounts to charity

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