Philanthropy means “Love of Mankind,” and it is a term which has been around in word and deed for centuries. Religious groups such as Buddhism, Judaism and Christianity encouraged charitable giving.

In more recent times a variety of legal mechanisms have become available for the gifting of money and other aid. These include Charitable Trusts and Foundations, the Sidney Myer Fund being one of the more well-known ones in Australia.

The history of philanthropy includes the following references to acts of kindness:

• Benjamin Franklin willed $1,000 to the cities of Boston and Philadelphia, with this amount growing to $1million at the end of the trust period. The money was to be used for the benefit of ‘indentured servants’.
• Governor Macquarie assisted the Benevolent Society of New South Wales by paying staff wages (c- 1813).
• John D. Rockefeller donated $540million for educational, health and religious purposes.

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