A look at philanthropists donating habits reveals an interesting trend. Almost all philanthropists agree that education is one of their top priorities, and schools and scholarships receive the largest amounts of charitable donations. Why is education such a big draw for philanthropists? There are a few key reasons.
Education Provides Direct Results
Philanthropists like to feel like their money is being put to good use, and donating to education provides clear and positive results. People enjoy being able to see how students can better themselves with scholarships and better supplies. Unlike donations to vague projects like medical research, education donations provide immediate and tangible improvements. This helps philanthropists feel like their donations truly matter.
Universities Can Easily Handle Massive Donations
A big reason that education gets larger donations than other fields is simply because it has the capacity to accept these donations. A small charity that only handles a few cases each month may be unable to scale up quickly enough to use a million dollar donation. Meanwhile, university’s expenses easily run into the millions each year, so they have plenty of uses for the massive donations some philanthropists wish to give.
Education Lets Philanthropists Build a Long-Lasting Legacy
For philanthropists who want to build a legacy, education is a very attractive cause. With many schools having centuries of history behind them, donors get the feeling that they are contributing to something that will last long after they are gone. The idea of future generations of students seeing their name over a library can be extremely heartwarming. Unlike many other charitable donations, a donation to a school can still be benefiting people decades later.
Philanthropists Have a Personal Connection to Education
Often, philanthropists donate specifically to schools or educational fields related to their own past. Just about every philanthropist has spent time in the educational system before, and people often prefer donating to causes that have a personal effect on them. Therefore, it is no surprise that so many people want to donate to education. They think back to their younger years, remember how just a little help could have benefited them so much, and then they want to provide that feeling of relief to younger generations.