Philanthropy is a social act, rather than an economic transaction and forms an important part of people’s identity, according to a paper presented in June by Dr Beth Breeze of the Centre for Charitable Giving and Philanthropy (CGAP).

In her presentation More than Money: The Meaning and Purpose of Contemporary UK Philanthropy, she says: “Philanthropy helps people to prove they are socially significant, not just financially significant.”

Dr Breeze presented findings from a series of studies exploring the practice and purpose of philanthropy among wealthy individuals. Her research identified different characteristics of donors’ involvement and motivation, which she categorised as follows:

Donor Plus: People who want to use their skills, knowledge and contacts to help causes they care about.

Donor Powerful: Those who want to demonstrate leadership through philanthropy.

Donor Paranoid: Donors who want to keep an eye on the recipients.

Donor Pleasure: Philanthropists who see their involvement as a leisure/retirement activity.

Donor Passionate: Donors who want to express their emotional engagement through practical involvement.

Dr Breeze includes various anonymous quotes from philanthropists to illustrate her points, for example, a male entrepreneur told her: “If you leave your money in your will then you have no idea what will be done with it. It’s far better to spend it whilst you’re alive because you can be involved and make sure it is being spent well.”

Another male donor told her: “We have enjoyed a wonderful time travelling extensively in Africa and Asia visiting our first ten projects… Parking the money in the foundation didn’t give me any particular satisfaction – that just involved moving money from one bank account into another.”

Dr Breeze says that philanthropy helps people to achieve distinction and to accumulate social and cultural capital. “Philanthropic acts help some people to achieve their needs for meaning.”