What if philanthropy was turned on its head along with the rest
of the world in March 2020 as a result of the coronavirus
(COVID-19)? Here, Carey Olsen's Andrew Munro explains how
Guernsey's financial services sector is well-placed to help
those in their quest for effective philanthropy.
The Oxford English Dictionary defines 'philanthropy' in
line with our modern understanding of the term: "The
desire to promote the welfare of others, expressed especially by
the generous donation of money to good causes". No doubt
many of us have always imagined philanthropy to refer to grand
gestures, gifts to purposes and causes which, whilst worthy, might
not be self-funding or sustainable without donations. Perhaps
this leaves us predisposed to thinking of it as noble and effective
but somewhat sterile, a duty, a one-way street, money simply poured
into an ever-hungry hole.
