The definition offered by the Oxford dictionary refers to philanthropy as “the impetus to humanitarian action”, as opposed to egoism.
The modern definition of organized philanthropy involves active individuals and groups in organized and stimulating circumstances in different ways to promote and improve community service. Organized philanthropy is manifested through the donation of money and other assets to charity, but also by investing in the community in a thoughtful and organized manner through foundations and other forms of non-profit organizations and institutions.
In addition to material support or investment, more and more present is the concept of donations or investment of personal time, knowledge and skills through various forms of voluntary service.
The primary prerequisites for the development of philanthropy in a society are accumulated financial wealth, favorable legal and tax environment, and the existence of a need.
Secondary conditions refer to a market economy, a critical level of trust in the society and tradition of philanthropy.